Metropolitan Life Insurance Co. NY cut its stake 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 institutional investor owned 4,599 shares of the medical instruments supplierâs stock after selling 13,919 shares during the quarter. Metropolitan Life Insurance Co. NYâs holdings in Insulet were worth $394,000 as of its most recent SEC filing.
Other large investors also recently modified their holdings of the company. Chicago Equity Partners LLC purchased a new stake in shares of Insulet during the second quarter valued at $375,000. Paloma Partners Management Co boosted its position in shares of Insulet by 2,104.4% during the second quarter. Paloma Partners Management Co now owns 168,699 shares of the medical instruments supplierâs stock valued at $14,458,000 after buying an additional 161,046 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 supplierâs stock valued at $67,848,000 after buying an additional 166,585 shares during the last quarter. State of Wisconsin Investment Board boosted its position in shares of Insulet by 78.7% during the second quarter. State of Wisconsin Investment Board now owns 71,482 shares of the medical instruments supplierâs stock valued at $6,126,000 after buying an additional 31,482 shares during the last quarter. Finally, Oppenheimer Asset Management Inc. purchased a new stake in shares of Insulet during the second quarter valued at $300,000.
Shares of NASDAQ:PODD opened at $105.95 on Friday. The stock has a market capitalization of $6.28 billion, a price-to-earnings ratio of -230.33 and a beta of 1.58. The company has a debt-to-equity ratio of 3.22, a quick ratio of 5.01 and a current ratio of 5.54. Insulet Co. has a 52-week low of $54.55 and a 52-week high of $108.90.
Insulet (NASDAQ:PODD) last announced its earnings results on Thursday, August 2nd. The medical instruments supplier reported ($0.03) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.13) by $0.10. The business had revenue of $124.26 million for the quarter, compared to analystsâ expectations of $132.89 million. Insulet had a negative return on equity of 11.91% and a negative net margin of 3.47%. The businessâs revenue for the quarter was up 13.2% on a year-over-year basis. During the same period last year, the firm posted ($0.13) earnings per share. equities analysts anticipate that Insulet Co. will post -0.09 EPS for the current year.
In other news, EVP Aiman Abdel-Malek sold 602 shares of the firmâs stock in a transaction dated Tuesday, August 14th. The stock was sold at an average price of $86.60, for a total value of $52,133.20. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP Michael P. Spears sold 5,043 shares of the firmâs 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. Insiders sold 7,207 shares of company stock worth $651,334 over the last three months. Insiders own 3.60% of the companyâs stock.
Several equities research analysts recently commented on the company. Zacks Investment Research cut Insulet from a âbuyâ rating to a âholdâ rating in a research report on Friday, August 17th. Oppenheimer set a $96.00 price objective on Insulet and gave the company a âholdâ rating in a research report on Friday, August 3rd. BidaskClub cut Insulet from a âstrong-buyâ rating to a âbuyâ rating in a research report on Tuesday. BMO Capital Markets increased their price objective on Insulet to $115.00 and gave the company a âtop pickâ rating in a research report on Tuesday, July 10th. Finally, Piper Jaffray Companies increased their price objective on Insulet to $106.00 and gave the company an âoverweightâ rating in a research report on Monday, June 4th. Four analysts have rated the stock with a hold rating, fourteen have given a buy rating and two have assigned a strong buy rating to the companyâs stock. The stock has a consensus rating of âBuyâ and an average price target of $95.24.
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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