Frontier Capital Management Co. LLC reduced its stake in shares of Insulet Co. (NASDAQ:PODD) by 5.4% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,953,234 shares of the medical instruments supplier’s stock after selling 111,715 shares during the quarter. Insulet accounts for 1.3% of Frontier Capital Management Co. LLC’s portfolio, making the stock its 5th largest position. Frontier Capital Management Co. LLC owned about 3.31% of Insulet worth $206,945,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other institutional investors also recently added to or reduced their stakes in PODD. Dimensional Fund Advisors LP raised its stake in Insulet by 17.7% during the first quarter. Dimensional Fund Advisors LP now owns 103,768 shares of the medical instruments supplier’s stock worth $8,995,000 after acquiring an additional 15,610 shares in the last quarter. Principal Financial Group Inc. increased its stake in shares of Insulet by 5.8% in the first quarter. Principal Financial Group Inc. now owns 37,618 shares of the medical instruments supplier’s stock valued at $3,261,000 after buying an additional 2,076 shares in the last quarter. UBS Group AG increased its stake in shares of Insulet by 194.9% in the first quarter. UBS Group AG now owns 10,687 shares of the medical instruments supplier’s stock valued at $926,000 after buying an additional 7,063 shares in the last quarter. LPL Financial LLC acquired a new stake in shares of Insulet in the first quarter valued at $276,000. Finally, Xact Kapitalforvaltning AB increased its stake in shares of Insulet by 50.8% in the first quarter. Xact Kapitalforvaltning AB now owns 8,316 shares of the medical instruments supplier’s stock valued at $721,000 after buying an additional 2,800 shares in the last quarter.
PODD has been the subject of a number of research reports. Leerink Swann restated an “outperform” rating and issued a $130.00 target price on shares of Insulet in a research note on Tuesday, September 11th. Zacks Investment Research upgraded Insulet from a “hold” rating to a “buy” rating and set a $119.00 target price for the company in a research note on Monday, October 1st. BidaskClub upgraded Insulet from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, September 11th. Morgan Stanley raised their target price on Insulet from $96.00 to $105.00 and gave the company an “equal weight” rating in a research note on Thursday, October 11th. Finally, Oppenheimer set a $96.00 target price on Insulet and gave the company a “hold” rating in a research note on Friday, August 3rd. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, twelve have assigned a buy rating and two have given a strong buy rating to the stock. The company currently has an average rating of “Buy” and an average target price of $99.13.
Insulet stock traded up $0.96 during mid-day trading on Tuesday, hitting $84.14. The stock had a trading volume of 39,871 shares, compared to its average volume of 671,023. The stock has a market cap of $4.96 billion, a price-to-earnings ratio of -182.91 and a beta of 1.56. Insulet Co. has a 12 month low of $56.62 and a 12 month high of $108.90. The company has a quick ratio of 5.01, a current ratio of 5.54 and a debt-to-equity ratio of 3.22.
Insulet (NASDAQ:PODD) last posted its quarterly earnings results on Thursday, August 2nd. The medical instruments supplier reported ($0.03) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.13) by $0.10. The business had revenue of $124.26 million for the quarter, compared to analysts’ expectations of $132.89 million. Insulet had a negative return on equity of 11.91% and a negative net margin of 3.47%. The firm’s quarterly revenue was up 13.2% compared to the same quarter last year. During the same quarter last year, the business earned ($0.13) earnings per share. As a group, sell-side analysts expect that Insulet Co. will post -0.09 EPS for the current year.
Insulet Corporation develops, manufactures, and sells insulin delivery systems for people with insulin-dependent diabetes in the United States and internationally. The company offers Omnipod Insulin Management System (Omnipod System), which consists of an easy-to-use continuous insulin delivery system; and Personal Diabetes Manager, a handheld wireless device.
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