Citigroup Inc. Lowers Stake in Insulet Corporation $PODD

Citigroup Inc. lessened its holdings in Insulet Corporation (NASDAQ:PODD) by 99.0% during the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 89,882 shares of the medical instruments supplier’s stock after selling 8,648,138 shares during the quarter. Citigroup Inc. owned about 0.13% of Insulet worth $27,749,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in PODD. Winnow Wealth LLC bought a new stake in shares of Insulet in the 3rd quarter worth $862,000. Illinois Municipal Retirement Fund boosted its position in shares of Insulet by 41.3% during the second quarter. Illinois Municipal Retirement Fund now owns 12,030 shares of the medical instruments supplier’s stock valued at $3,780,000 after buying an additional 3,514 shares during the last quarter. Machina Capital S.A.S. bought a new stake in Insulet in the 3rd quarter worth about $2,778,000. Jump Financial LLC raised its position in Insulet by 12.0% in the 2nd quarter. Jump Financial LLC now owns 66,170 shares of the medical instruments supplier’s stock worth $20,789,000 after buying an additional 7,070 shares during the last quarter. Finally, Campbell & CO Investment Adviser LLC purchased a new position in Insulet in the 2nd quarter worth about $1,081,000.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the stock. Leerink Partners dropped their price target on shares of Insulet from $386.00 to $360.00 and set an “outperform” rating on the stock in a report on Thursday, February 19th. Royal Bank Of Canada raised their target price on shares of Insulet from $370.00 to $380.00 and gave the stock an “outperform” rating in a report on Friday, November 21st. The Goldman Sachs Group decreased their target price on shares of Insulet from $363.00 to $326.00 and set a “buy” rating for the company in a research note on Thursday, February 19th. Jefferies Financial Group increased their price target on Insulet from $375.00 to $400.00 and gave the company a “buy” rating in a report on Thursday, November 6th. Finally, Raymond James Financial cut their price objective on Insulet from $385.00 to $355.00 and set an “outperform” rating for the company in a report on Thursday, February 19th. Twenty analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $354.57.

Insulet Trading Up 1.2%

Shares of PODD stock opened at $248.12 on Thursday. The company has a debt-to-equity ratio of 0.61, a current ratio of 2.81 and a quick ratio of 2.15. The company has a market cap of $17.47 billion, a price-to-earnings ratio of 70.89, a PEG ratio of 1.46 and a beta of 1.41. Insulet Corporation has a 1 year low of $230.05 and a 1 year high of $354.88. The firm has a fifty day moving average price of $269.90 and a 200-day moving average price of $303.94.

Insulet (NASDAQ:PODD) last released its earnings results on Wednesday, February 18th. The medical instruments supplier reported $1.55 earnings per share for the quarter, beating the consensus estimate of $1.48 by $0.07. The company had revenue of $783.80 million for the quarter, compared to the consensus estimate of $768.31 million. Insulet had a return on equity of 24.90% and a net margin of 9.12%.Insulet’s quarterly revenue was up 31.2% compared to the same quarter last year. During the same period in the previous year, the business earned $1.15 earnings per share. As a group, equities analysts predict that Insulet Corporation will post 3.92 earnings per share for the current year.

Insulet Profile

Insulet Corporation is a medical device company headquartered in Acton, Massachusetts, that develops, manufactures and sells insulin-delivery systems for people with diabetes. The company’s core business is the design and commercialization of its Omnipod family of tubeless, wearable insulin pumps and the consumable Pods that deliver insulin. Insulet’s products aim to simplify insulin delivery for people with type 1 diabetes and insulin-requiring type 2 diabetes by offering an alternative to traditional insulin pens and tethered pump systems.

The company’s product portfolio includes the Omnipod System line—disposable, waterproof Pods that adhere to the skin and deliver insulin—and the associated controllers and mobile applications used to program and monitor insulin delivery.