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 supplierâ€™s stock after selling 13,919 shares during the quarter. Metropolitan Life Insurance Co. NYâ€™s 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 supplierâ€™s 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 supplierâ€™s 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 supplierâ€™s 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 businessâ€™s 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 firmâ€™s 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 firmâ€™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. Insiders sold 7,207 shares of company stock worth $651,334 over the last three months. Insiders own 3.60% of the companyâ€™s stock.
Several equities research analysts recently commented on the company. Zacks Investment Research cut Insulet from a â€śbuyâ€ť rating to a â€śholdâ€ť rating in a research report on Friday, August 17th. Oppenheimer set a $96.00 price objective on Insulet and gave the company a â€śholdâ€ť rating in a research report on Friday, August 3rd. BidaskClub cut Insulet from a â€śstrong-buyâ€ť rating to a â€śbuyâ€ť rating in a research report on Tuesday. BMO Capital Markets increased their price objective on Insulet to $115.00 and gave the company a â€śtop pickâ€ť 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 â€śoverweightâ€ť 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 companyâ€™s stock. The stock has a consensus rating of â€śBuyâ€ť 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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