Insulet Co. (NASDAQ:PODD) EVP Bradley A. Thomas sold 7,250 shares of the company’s stock in a transaction that occurred on Wednesday, March 14th. The stock was sold at an average price of $83.81, for a total transaction of $607,622.50. The sale was disclosed in a document filed with the SEC, which is available at the SEC website.
Insulet Co. (PODD) traded up $0.62 on Friday, reaching $85.23. 511,279 shares of the company’s stock traded hands, compared to its average volume of 474,056. The company has a current ratio of 6.24, a quick ratio of 5.85 and a debt-to-equity ratio of 3.57. The firm has a market capitalization of $4,940.47, a price-to-earnings ratio of -185.28 and a beta of 1.56. Insulet Co. has a 12 month low of $38.43 and a 12 month high of $85.71.
Insulet (NASDAQ:PODD) last posted its earnings results on Wednesday, February 21st. The medical instruments supplier reported ($0.12) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.08) by ($0.04). The firm had revenue of $130.50 million during the quarter, compared to analyst estimates of $125.16 million. Insulet had a negative return on equity of 29.73% and a negative net margin of 5.79%. The company’s revenue for the quarter was up 26.0% on a year-over-year basis. During the same quarter last year, the business posted ($0.16) earnings per share. research analysts forecast that Insulet Co. will post -0.3 earnings per share for the current fiscal year.
Several hedge funds have recently modified their holdings of the company. Frontier Capital Management Co. LLC increased its position in shares of Insulet by 42.4% during the fourth quarter. Frontier Capital Management Co. LLC now owns 2,096,131 shares of the medical instruments supplier’s stock worth $144,633,000 after acquiring an additional 624,465 shares in the last quarter. Fred Alger Management Inc. increased its position in shares of Insulet by 32.5% during the fourth quarter. Fred Alger Management Inc. now owns 1,808,616 shares of the medical instruments supplier’s stock worth $124,795,000 after acquiring an additional 443,970 shares in the last quarter. Millennium Management LLC increased its position in shares of Insulet by 154.1% during the fourth quarter. Millennium Management LLC now owns 941,567 shares of the medical instruments supplier’s stock worth $64,968,000 after acquiring an additional 571,082 shares in the last quarter. Renaissance Technologies LLC increased its position in shares of Insulet by 328.2% during the fourth quarter. Renaissance Technologies LLC now owns 661,200 shares of the medical instruments supplier’s stock worth $45,623,000 after acquiring an additional 506,800 shares in the last quarter. Finally, JPMorgan Chase & Co. increased its position in shares of Insulet by 104.9% during the third quarter. JPMorgan Chase & Co. now owns 611,595 shares of the medical instruments supplier’s stock worth $34,035,000 after acquiring an additional 313,093 shares in the last quarter.
PODD has been the topic of a number of research reports. Barclays reiterated a “buy” rating and set a $78.00 target price on shares of Insulet in a research report on Wednesday, December 13th. Jefferies Group restated a “buy” rating and issued a $90.00 price objective on shares of Insulet in a report on Friday, February 23rd. BidaskClub upgraded shares of Insulet from a “hold” rating to a “buy” rating in a report on Friday, March 9th. Morgan Stanley restated an “equal weight” rating and issued a $87.00 price objective (up from $76.00) on shares of Insulet in a report on Thursday, February 22nd. Finally, Stephens restated an “equal weight” rating and issued a $81.00 price objective (up from $60.00) on shares of Insulet in a report on Thursday, February 22nd. Eight equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of $73.24.
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Insulet Corporation is engaged in the development, manufacturing and sale of the OmniPod Insulin Management System (the OmniPod System), an insulin delivery system for people with insulin-dependent diabetes. The Omnipod System features a self-adhesive disposable tubeless Omnipod device, which is worn on the body for approximately three days at a time and its wireless companion, the handheld Personal Diabetes Manager (PDM).
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