Campbell & CO Investment Adviser LLC acquired a new position in Insulet Co. (NASDAQ:PODD) in the 3rd quarter, HoldingsChannel.com reports. The fund acquired 6,890 shares of the medical instruments supplier’s stock, valued at approximately $730,000. Insulet comprises about 0.5% of Campbell & CO Investment Adviser LLC’s investment portfolio, making the stock its 27th largest holding.
A number of other institutional investors and hedge funds have also recently made changes to their positions in the stock. FMR LLC increased its holdings in Insulet by 0.6% in the 2nd quarter. FMR LLC now owns 8,740,881 shares of the medical instruments supplier’s stock worth $749,093,000 after acquiring an additional 52,946 shares during the last quarter. OppenheimerFunds Inc. grew its holdings in Insulet by 26.6% during the 2nd quarter. OppenheimerFunds Inc. now owns 791,702 shares of the medical instruments supplier’s stock valued at $67,848,000 after buying an additional 166,585 shares in the last quarter. American Century Companies Inc. grew its holdings in Insulet by 737.9% during the 3rd quarter. American Century Companies Inc. now owns 700,892 shares of the medical instruments supplier’s stock valued at $74,260,000 after buying an additional 617,241 shares in the last quarter. Wasatch Advisors Inc. grew its holdings in Insulet by 37.4% during the 3rd quarter. Wasatch Advisors Inc. now owns 554,604 shares of the medical instruments supplier’s stock valued at $58,760,000 after buying an additional 150,948 shares in the last quarter. Finally, Millennium Management LLC grew its holdings in Insulet by 87.4% during the 2nd quarter. Millennium Management LLC now owns 532,109 shares of the medical instruments supplier’s stock valued at $45,602,000 after buying an additional 248,108 shares in the last quarter.
A number of research analysts have weighed in on the company. BidaskClub lowered Insulet from a “hold” rating to a “sell” rating in a report on Friday, October 12th. Zacks Investment Research lowered Insulet from a “buy” rating to a “hold” rating in a report on Thursday, October 4th. Jefferies Financial Group reaffirmed a “buy” rating and set a $97.00 target price on shares of Insulet in a report on Friday, August 3rd. Oppenheimer set a $96.00 target price on Insulet and gave the company a “hold” rating in a report on Friday, August 3rd. Finally, Morgan Stanley lifted their target price on Insulet from $96.00 to $105.00 and gave the company an “equal weight” rating in a report on Thursday, October 11th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, eleven have assigned a buy rating and two have assigned a strong buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $101.20.
Insulet (NASDAQ:PODD) last issued its quarterly earnings results on Thursday, November 1st. The medical instruments supplier reported $0.03 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.02 by $0.01. The firm had revenue of $151.10 million during the quarter, compared to the consensus estimate of $148.82 million. Insulet had a negative return on equity of 7.63% and a negative net margin of 2.54%. The company’s revenue for the quarter was up 24.1% on a year-over-year basis. During the same quarter last year, the company posted ($0.04) EPS. On average, equities analysts forecast that Insulet Co. will post -0.05 earnings per share for the current year.
In other news, insider Shacey Petrovic sold 1,134 shares of Insulet stock in a transaction dated Thursday, November 1st. The stock was sold at an average price of $86.91, for a total transaction of $98,555.94. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Aiman Abdel-Malek sold 602 shares of Insulet stock in a transaction dated Friday, September 14th. The shares were sold at an average price of $107.99, for a total value of $65,009.98. The disclosure for this sale can be found here. In the last quarter, insiders have sold 10,013 shares of company stock valued at $856,934. Corporate insiders own 3.60% of the company’s stock.
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.
Further Reading: How to calculate the intrinsic value of a stock
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