Citigroup Inc. Trims Stake in Insulet Co. (NASDAQ:PODD)

Citigroup Inc. decreased its position in shares of Insulet Co. (NASDAQ:PODDGet Rating) by 25.1% during the first quarter, according to its most recent filing with the SEC. The firm owned 44,726 shares of the medical instruments supplier’s stock after selling 14,985 shares during the period. Citigroup Inc.’s holdings in Insulet were worth $11,915,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Pinebridge Investments L.P. purchased a new position in shares of Insulet during the 4th quarter worth approximately $27,000. Confluence Wealth Services Inc. purchased a new position in shares of Insulet during the 4th quarter worth approximately $28,000. Institutional & Family Asset Management LLC grew its holdings in shares of Insulet by 261.3% during the 1st quarter. Institutional & Family Asset Management LLC now owns 112 shares of the medical instruments supplier’s stock worth $30,000 after acquiring an additional 81 shares during the period. Wolff Wiese Magana LLC grew its holdings in shares of Insulet by 153.6% during the 1st quarter. Wolff Wiese Magana LLC now owns 142 shares of the medical instruments supplier’s stock worth $38,000 after acquiring an additional 86 shares during the period. Finally, Washington Trust Advisors Inc. grew its holdings in shares of Insulet by 153.7% during the 1st quarter. Washington Trust Advisors Inc. now owns 208 shares of the medical instruments supplier’s stock worth $55,000 after acquiring an additional 126 shares during the period.

Insider Activity

In other news, EVP Bret Christensen sold 2,900 shares of the stock in a transaction on Wednesday, August 24th. The stock was sold at an average price of $264.24, for a total transaction of $766,296.00. Following the transaction, the executive vice president now directly owns 19,551 shares of the company’s stock, valued at approximately $5,166,156.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, EVP Bret Christensen sold 2,900 shares of the firm’s stock in a transaction on Wednesday, August 24th. The stock was sold at an average price of $264.24, for a total value of $766,296.00. Following the transaction, the executive vice president now directly owns 19,551 shares of the company’s stock, valued at approximately $5,166,156.24. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Shacey Petrovic sold 15,000 shares of the firm’s stock in a transaction 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 completion of the transaction, the director now directly owns 13,695 shares in the company, valued at $3,052,615.50. The disclosure for this sale can be found here. Insiders own 0.90% of the company’s stock.

Analyst Ratings Changes

Several analysts recently weighed in on the company. Canaccord Genuity Group upped their price target on Insulet from $250.00 to $290.00 and gave the stock a “buy” rating in a research note on Monday, August 8th. Robert W. Baird upped their price target on Insulet from $245.00 to $300.00 and gave the stock an “outperform” rating in a research note on Friday, August 5th. Canaccord Genuity Group upped their price target on Insulet from $250.00 to $290.00 and gave the stock a “buy” rating in a research note on Friday, August 5th. Morgan Stanley upped their price target on Insulet from $244.00 to $273.00 and gave the stock an “equal weight” rating in a research note on Monday, August 8th. Finally, Piper Sandler upped their price target on Insulet from $230.00 to $235.00 and gave the stock a “neutral” rating in a research note on Friday, August 5th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and ten have assigned a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $295.23.

Insulet Stock Performance

PODD stock opened at $254.35 on Monday. The stock’s 50 day simple moving average is $247.59 and its 200 day simple moving average is $239.72. The stock has a market capitalization of $17.65 billion, a PE ratio of 508.70 and a beta of 0.73. The company has a current ratio of 4.69, a quick ratio of 3.54 and a debt-to-equity ratio of 3.28. Insulet Co. has a 12-month low of $181.00 and a 12-month high of $324.81.

Insulet (NASDAQ:PODDGet Rating) last released its quarterly earnings results on Thursday, August 4th. The medical instruments supplier reported ($0.50) earnings per share for the quarter, missing the consensus estimate of $0.22 by ($0.72). The firm had revenue of $299.40 million for the quarter, compared to the consensus estimate of $290.87 million. Insulet had a net margin of 2.94% and a return on equity of 13.83%. Insulet’s quarterly revenue was up 13.8% compared to the same quarter last year. During the same period in the previous year, the company earned $0.10 earnings per share. As a group, research analysts forecast that Insulet Co. will post 0.83 earnings per share for the current fiscal year.

Insulet 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.

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Institutional Ownership by Quarter for Insulet (NASDAQ:PODD)

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