Insulet Co. (NASDAQ:PODD) Holdings Trimmed by Commonwealth Equity Services LLC

Commonwealth Equity Services LLC cut its holdings in Insulet Co. (NASDAQ:PODDFree Report) by 3.5% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 13,141 shares of the medical instruments supplier’s stock after selling 471 shares during the quarter. Commonwealth Equity Services LLC’s holdings in Insulet were worth $4,191,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in the business. Icon Wealth Partners LLC purchased a new position in shares of Insulet in the first quarter worth approximately $259,000. Wealth Alliance acquired a new stake in shares of Insulet during the 1st quarter valued at $210,000. Harvest Fund Management Co. Ltd acquired a new position in shares of Insulet in the first quarter worth $102,000. Guggenheim Capital LLC raised its holdings in shares of Insulet by 136.3% during the first quarter. Guggenheim Capital LLC now owns 6,928 shares of the medical instruments supplier’s stock worth $2,210,000 after acquiring an additional 3,996 shares in the last quarter. Finally, Gateway Advisory LLC acquired a new stake in Insulet during the first quarter valued at $550,000.

Insider Activity

In other news, CEO James Hollingshead bought 5,550 shares of Insulet stock in a transaction that occurred on Monday, August 28th. The stock was purchased at an average cost of $181.41 per share, with a total value of $1,006,825.50. Following the completion of the transaction, the chief executive officer now directly owns 34,177 shares in the company, valued at $6,200,049.57. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CFO Wayde D. Mcmillan sold 1,388 shares of the stock in a transaction that occurred on Monday, July 3rd. The stock was sold at an average price of $282.94, for a total value of $392,720.72. Following the completion of the transaction, the chief financial officer now directly owns 21,477 shares of the company’s stock, valued at approximately $6,076,702.38. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO James Hollingshead purchased 5,550 shares of the firm’s stock in a transaction that occurred on Monday, August 28th. The stock was bought at an average cost of $181.41 per share, for a total transaction of $1,006,825.50. Following the purchase, the chief executive officer now owns 34,177 shares in the company, valued at $6,200,049.57. The disclosure for this purchase can be found here. Over the last ninety days, insiders have sold 2,063 shares of company stock worth $585,161. Company insiders own 0.80% of the company’s stock.

Insulet Price Performance

Shares of Insulet stock opened at $192.18 on Friday. The company has a debt-to-equity ratio of 2.47, a current ratio of 3.34 and a quick ratio of 2.38. The company has a market cap of $13.42 billion, a PE ratio of 215.93, a price-to-earnings-growth ratio of 3.10 and a beta of 0.79. The firm has a fifty day moving average price of $252.68 and a two-hundred day moving average price of $285.20. Insulet Co. has a fifty-two week low of $178.55 and a fifty-two week high of $335.91.

Insulet (NASDAQ:PODDGet Free Report) last released its earnings results on Tuesday, August 8th. The medical instruments supplier reported $0.38 earnings per share for the quarter, beating the consensus estimate of $0.24 by $0.14. Insulet had a net margin of 4.29% and a return on equity of 22.42%. The business had revenue of $396.50 million during the quarter, compared to analysts’ expectations of $383.97 million. Analysts expect that Insulet Co. will post 1.64 EPS for the current year.

Analysts Set New Price Targets

Several brokerages have recently issued reports on PODD. JPMorgan Chase & Co. reduced their price target on Insulet from $365.00 to $325.00 and set an “overweight” rating for the company in a report on Wednesday, August 9th. Bank of America decreased their target price on shares of Insulet from $365.00 to $295.00 and set a “buy” rating for the company in a research report on Thursday, August 24th. Citigroup upgraded shares of Insulet from a “neutral” rating to a “buy” rating and cut their price target for the company from $273.00 to $265.00 in a report on Monday, August 21st. Wells Fargo & Company decreased their price objective on shares of Insulet from $375.00 to $330.00 and set an “overweight” rating for the company in a report on Wednesday, August 9th. Finally, Morgan Stanley reduced their price target on Insulet from $343.00 to $208.00 and set an “equal weight” rating for the company in a research report on Thursday, August 24th. Eight investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $296.33.

Read Our Latest Stock Analysis on Insulet

Insulet Profile

(Free Report)

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.

See Also

Institutional Ownership by Quarter for Insulet (NASDAQ:PODD)

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