Metropolitan Life Insurance Co. NY lowered its holdings in shares of Insulet Co. (NASDAQ:PODD) by 75.2% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 4,599 shares of the medical instruments supplierâ€™s stock after selling 13,919 shares during the period. Metropolitan Life Insurance Co. NYâ€™s holdings in Insulet were worth $394,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. FMR LLC boosted its position in shares of Insulet by 0.6% during the second quarter. FMR LLC now owns 8,740,881 shares of the medical instruments supplierâ€™s stock valued at $749,093,000 after buying an additional 52,946 shares during the last quarter. Lord Abbett & CO. LLC boosted its position in shares of Insulet by 2.9% during the first quarter. Lord Abbett & CO. LLC now owns 1,208,861 shares of the medical instruments supplierâ€™s stock valued at $104,784,000 after buying an additional 34,025 shares during the last quarter. OppenheimerFunds Inc. boosted its position in shares of Insulet by 26.6% during the second quarter. OppenheimerFunds Inc. now owns 791,702 shares of the medical instruments supplierâ€™s stock valued at $67,848,000 after buying an additional 166,585 shares during the last quarter. Victory Capital Management Inc. lifted its holdings in Insulet by 4.8% during the second quarter. Victory Capital Management Inc. now owns 459,740 shares of the medical instruments supplierâ€™s stock worth $39,400,000 after acquiring an additional 21,170 shares during the period. Finally, Carillon Tower Advisers Inc. lifted its holdings in Insulet by 2.4% during the second quarter. Carillon Tower Advisers Inc. now owns 404,355 shares of the medical instruments supplierâ€™s stock worth $34,653,000 after acquiring an additional 9,372 shares during the period.
In related news, EVP Aiman Abdel-Malek sold 602 shares of the businessâ€™s stock in a transaction dated Friday, September 14th. The stock was sold at an average price of $107.99, for a total transaction of $65,009.98. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Michael P. Spears sold 5,043 shares of the companyâ€™s stock in a transaction dated Tuesday, August 14th. The stock was sold at an average price of $86.08, for a total value of $434,101.44. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 7,207 shares of company stock valued at $651,334. 3.60% of the stock is owned by company insiders.
Shares of NASDAQ:PODD traded down $0.79 during midday trading on Friday, reaching $95.50. 733,077 shares of the company traded hands, compared to its average volume of 575,379. Insulet Co. has a 12 month low of $56.62 and a 12 month high of $108.90. The company has a debt-to-equity ratio of 3.22, a quick ratio of 5.01 and a current ratio of 5.54. The firm has a market cap of $6.25 billion, a price-to-earnings ratio of -207.61 and a beta of 1.56.
Insulet (NASDAQ:PODD) last posted its earnings results on Thursday, August 2nd. The medical instruments supplier reported ($0.03) EPS for the quarter, topping the Thomson Reutersâ€™ consensus estimate of ($0.13) by $0.10. Insulet had a negative return on equity of 11.91% and a negative net margin of 3.47%. The business had revenue of $124.26 million during the quarter, compared to analystsâ€™ expectations of $132.89 million. During the same period in the previous year, the business earned ($0.13) earnings per share. The firmâ€™s revenue was up 13.2% on a year-over-year basis. Equities analysts predict that Insulet Co. will post -0.09 EPS for the current fiscal year.
A number of brokerages recently commented on PODD. BidaskClub upgraded Insulet from a â€śbuyâ€ť rating to a â€śstrong-buyâ€ť rating in a report on Tuesday, September 11th. Leerink Swann reiterated an â€śoutperformâ€ť rating and set a $130.00 price target on shares of Insulet in a report on Tuesday, September 11th. Zacks Investment Research upgraded Insulet from a â€śholdâ€ť rating to a â€śbuyâ€ť rating and set a $119.00 price target on the stock in a report on Monday, October 1st. Finally, BMO Capital Markets lifted their price target on Insulet to $115.00 and gave the stock a â€śtop pickâ€ť rating in a report on Tuesday, July 10th. Four investment analysts have rated the stock with a hold rating, fourteen have issued a buy rating and two have issued a strong buy rating to the companyâ€™s stock. Insulet presently has an average rating of â€śBuyâ€ť and a consensus price target of $96.59.
Insulet Company Profile
Insulet Corporation develops, manufactures, and sells insulin delivery systems for people with insulin-dependent diabetes in the United States and internationally. The company offers Omnipod Insulin Management System (Omnipod System), which consists of an easy-to-use continuous insulin delivery system; and Personal Diabetes Manager, a handheld wireless device.
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