Central Pacific Bank Trust Division Reduces Stock Holdings in Insulet Corporation $PODD

Central Pacific Bank Trust Division lowered its stake in shares of Insulet Corporation (NASDAQ:PODD) by 99.8% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 480 shares of the medical instruments supplier’s stock after selling 291,000 shares during the quarter. Central Pacific Bank Trust Division’s holdings in Insulet were worth $148,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of PODD. Kozak & Associates Inc. bought a new stake in shares of Insulet in the 2nd quarter worth about $32,000. Golden State Wealth Management LLC lifted its stake in Insulet by 202.9% in the second quarter. Golden State Wealth Management LLC now owns 103 shares of the medical instruments supplier’s stock worth $32,000 after purchasing an additional 69 shares during the last quarter. Trust Co. of Toledo NA OH purchased a new position in shares of Insulet during the second quarter valued at approximately $35,000. Osterweis Capital Management Inc. bought a new position in shares of Insulet during the second quarter valued at approximately $51,000. Finally, NewEdge Advisors LLC raised its holdings in shares of Insulet by 44.8% in the first quarter. NewEdge Advisors LLC now owns 207 shares of the medical instruments supplier’s stock worth $54,000 after buying an additional 64 shares during the period.

Insulet Stock Up 0.3%

Shares of Insulet stock opened at $289.57 on Thursday. The company has a debt-to-equity ratio of 0.68, a current ratio of 2.87 and a quick ratio of 2.18. The stock has a market cap of $20.37 billion, a price-to-earnings ratio of 83.93, a PEG ratio of 2.03 and a beta of 1.37. The firm’s 50-day moving average is $317.47 and its two-hundred day moving average is $314.16. Insulet Corporation has a 1 year low of $230.05 and a 1 year high of $354.88.

Insulet (NASDAQ:PODD) last posted its quarterly earnings results on Thursday, November 6th. The medical instruments supplier reported $1.24 EPS for the quarter, beating the consensus estimate of $1.13 by $0.11. Insulet had a net margin of 9.76% and a return on equity of 24.36%. The business had revenue of $521.70 million during the quarter, compared to analyst estimates of $678.70 million. During the same quarter in the previous year, the business posted $1.08 EPS. The company’s quarterly revenue was up 29.9% compared to the same quarter last year. As a group, research analysts expect that Insulet Corporation will post 3.92 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts have commented on PODD shares. BTIG Research upped their price objective on Insulet from $370.00 to $380.00 and gave the company a “buy” rating in a research report on Friday, November 21st. Jefferies Financial Group upped their price target on shares of Insulet from $375.00 to $400.00 and gave the stock a “buy” rating in a report on Thursday, November 6th. Evercore ISI started coverage on shares of Insulet in a research note on Tuesday. They issued an “outperform” rating and a $370.00 price target on the stock. Oppenheimer boosted their price objective on shares of Insulet from $324.00 to $365.00 and gave the company an “outperform” rating in a research report on Monday, September 8th. Finally, Rothschild & Co Redburn raised their target price on shares of Insulet from $350.00 to $370.00 and gave the stock a “buy” rating in a research report on Friday, October 3rd. One equities research analyst has rated the stock with a Strong Buy rating, twenty-two have given a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $380.05.

Insulet Profile

Insulet Corporation develops, manufactures, and sells insulin delivery systems for people with insulin-dependent diabetes. The company's Omnipod platform includes the Omnipod 5 Automated Insulin Delivery System (Omnipod 5) which includes a proprietary AID algorithm embedded in the Pod that integrates with a third-party continuous glucose monitor to obtain glucose values through wireless bluetooth communication; Omnipod DASH that features a bluetooth enabled Pod that is controlled by a smartphone-like Personal Diabetes Manager with a color touch screen user interface; and Omnipod GO, a standalone, wearable, insulin delivery system that provides a fixed rate of continuous rapid-acting insulin for 72 hours.