FDx Advisors Inc. purchased a new stake in Insulet Co. (NASDAQ:PODD – Get Rating) in the first quarter, HoldingsChannel reports. The firm purchased 774 shares of the medical instruments supplier’s stock, valued at approximately $206,000.
A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Granite Investment Partners LLC increased its holdings in shares of Insulet by 30.2% in the first quarter. Granite Investment Partners LLC now owns 53,453 shares of the medical instruments supplier’s stock valued at $14,239,000 after purchasing an additional 12,401 shares in the last quarter. Atria Investments LLC acquired a new stake in shares of Insulet in the first quarter valued at approximately $1,103,000. Signaturefd LLC increased its holdings in shares of Insulet by 41.0% in the first quarter. Signaturefd LLC now owns 378 shares of the medical instruments supplier’s stock valued at $101,000 after purchasing an additional 110 shares in the last quarter. Arkadios Wealth Advisors grew its holdings in Insulet by 36.8% during the 1st quarter. Arkadios Wealth Advisors now owns 1,108 shares of the medical instruments supplier’s stock worth $295,000 after acquiring an additional 298 shares during the period. Finally, Mckinley Capital Management LLC Delaware acquired a new stake in Insulet during the 1st quarter worth $2,773,000.
Analysts Set New Price Targets
A number of analysts have commented on the stock. Citigroup lowered shares of Insulet from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $310.00 to $250.00 in a report on Monday, July 11th. Wells Fargo & Company lowered their target price on shares of Insulet from $357.00 to $345.00 in a report on Friday, May 6th. Morgan Stanley lowered their target price on shares of Insulet from $268.00 to $244.00 and set an “equal weight” rating for the company in a report on Tuesday, June 7th. Finally, BTIG Research reduced their price target on shares of Insulet from $310.00 to $250.00 and set a “buy” rating on the stock in a research report on Friday, June 24th. Four analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, Insulet has an average rating of “Moderate Buy” and a consensus price target of $286.73.
Insiders Place Their Bets
Insulet Trading Up 0.1 %
PODD opened at $247.80 on Friday. The stock has a market capitalization of $17.18 billion, a P/E ratio of 393.34 and a beta of 0.70. Insulet Co. has a 12 month low of $181.00 and a 12 month high of $324.81. The firm’s fifty day simple moving average is $223.46 and its 200 day simple moving average is $235.21. The company has a current ratio of 5.98, a quick ratio of 4.51 and a debt-to-equity ratio of 3.11.
Insulet (NASDAQ:PODD – Get Rating) last issued its quarterly earnings results on Thursday, May 5th. The medical instruments supplier reported $0.40 EPS for the quarter, topping the consensus estimate of $0.23 by $0.17. Insulet had a net margin of 3.91% and a return on equity of 15.81%. The firm had revenue of $295.40 million for the quarter, compared to analysts’ expectations of $287.99 million. Insulet’s revenue for the quarter was up 17.1% compared to the same quarter last year. As a group, research analysts anticipate that Insulet Co. will post 1.3 EPS for the current fiscal year.
Insulet Company Profile
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.
- Get a free copy of the StockNews.com research report on Insulet (PODD)
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