Insulet Co. (NASDAQ:PODD) Holdings Lowered by SG Americas Securities LLC

SG Americas Securities LLC trimmed its stake in shares of Insulet Co. (NASDAQ:PODD – Get Rating) by 64.6% in the 1st quarter, HoldingsChannel reports. The firm owned 6,516 shares of the medical instruments supplier’s stock after selling 11,871 shares during the quarter. SG Americas Securities LLC’s holdings in Insulet were worth $1,736,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Park Avenue Securities LLC purchased a new stake in Insulet in the 1st quarter worth about $211,000. FourThought Financial LLC purchased a new stake in Insulet in the 1st quarter worth about $101,000. Daiwa Securities Group Inc. lifted its stake in Insulet by 4.1% in the 1st quarter. Daiwa Securities Group Inc. now owns 5,305 shares of the medical instruments supplier’s stock worth $1,413,000 after acquiring an additional 210 shares in the last quarter. Krilogy Financial LLC purchased a new stake in Insulet in the 1st quarter worth about $693,000. Finally, TownSquare Capital LLC lifted its stake in Insulet by 132.9% in the 1st quarter. TownSquare Capital LLC now owns 2,068 shares of the medical instruments supplier’s stock worth $551,000 after acquiring an additional 1,180 shares in the last quarter.

Insider Buying and Selling at Insulet

In other Insulet news, Director Shacey Petrovic sold 15,000 shares of the firm’s stock in a transaction that occurred on Friday, July 1st. The stock was sold at an average price of $222.90, for a total value of $3,343,500.00. Following the sale, the director now owns 13,695 shares of the company’s stock, valued at approximately $3,052,615.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other news, COO Charles Alpuche sold 6,000 shares of Insulet stock in a transaction that occurred on Monday, June 6th. The stock was sold at an average price of $215.32, for a total transaction of $1,291,920.00. Following the sale, the chief operating officer now owns 43,899 shares of the company’s stock, valued at approximately $9,452,332.68. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Shacey Petrovic sold 15,000 shares of Insulet stock in a transaction that occurred on Friday, July 1st. The stock was sold at an average price of $222.90, for a total value of $3,343,500.00. Following the sale, the director now directly owns 13,695 shares in the company, valued at approximately $3,052,615.50. The disclosure for this sale can be found here. Insiders own 0.90% of the company’s stock.

Analysts Set New Price Targets

PODD has been the subject of several research analyst reports. BTIG Research reduced their price objective on Insulet from $310.00 to $250.00 and set a “buy” rating for the company in a research note on Friday, June 24th. StockNews.com assumed coverage on Insulet in a research note on Thursday, March 31st. They set a “hold” rating for the company. Morgan Stanley cut their price target on Insulet from $268.00 to $244.00 and set an “equal weight” rating for the company in a research note on Tuesday, June 7th. Wells Fargo & Company cut their price target on Insulet from $357.00 to $345.00 in a research note on Friday, May 6th. Finally, Citigroup downgraded Insulet from a “buy” rating to a “neutral” rating and cut their price target for the stock from $310.00 to $250.00 in a research note on Monday, July 11th. Four equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $286.73.

Insulet Stock Performance

Shares of NASDAQ PODD opened at $239.50 on Wednesday. The company has a debt-to-equity ratio of 3.11, a quick ratio of 4.51 and a current ratio of 5.98. The firm has a market cap of $16.61 billion, a price-to-earnings ratio of 380.16 and a beta of 0.70. The business’s 50-day simple moving average is $220.35 and its 200-day simple moving average is $235.09. Insulet Co. has a 52 week low of $181.00 and a 52 week high of $324.81.

Insulet (NASDAQ:PODD – Get Rating) last released its earnings results on Thursday, May 5th. The medical instruments supplier reported $0.40 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.23 by $0.17. The firm had revenue of $295.40 million for the quarter, compared to analyst estimates of $287.99 million. Insulet had a return on equity of 15.81% and a net margin of 3.91%. The business’s revenue for the quarter was up 17.1% compared to the same quarter last year. As a group, equities research analysts expect that Insulet Co. will post 1.3 earnings per share for the current fiscal year.

Insulet Company Profile

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Insulet Corporation develops, manufactures, and sells insulin delivery systems for people with insulin-dependent diabetes. It offers Omnipod System, a self-adhesive disposable tubeless Omnipod device that is worn on the body for up to three days at a time, as well as its wireless companion, the handheld personal diabetes manager.