Coatue Management LLC grew its holdings in shares of Insulet Co. (NASDAQ:PODD) by 1.2% in the second quarter, according to its most recent filing with the SEC. The firm owned 1,454,347 shares of the medical instruments supplier’s stock after acquiring an additional 17,713 shares during the quarter. Insulet comprises approximately 2.5% of Coatue Management LLC’s holdings, making the stock its 15th largest position. Coatue Management LLC’s holdings in Insulet were worth $282,521,000 as of its most recent SEC filing.
A number of other hedge funds have also made changes to their positions in the business. Private Capital Group LLC grew its holdings in Insulet by 49.6% in the 1st quarter. Private Capital Group LLC now owns 169 shares of the medical instruments supplier’s stock worth $28,000 after acquiring an additional 56 shares during the last quarter. FinTrust Capital Advisors LLC raised its stake in Insulet by 869.6% during the 1st quarter. FinTrust Capital Advisors LLC now owns 223 shares of the medical instruments supplier’s stock worth $37,000 after buying an additional 200 shares during the period. Cullen Frost Bankers Inc. acquired a new stake in shares of Insulet in the 2nd quarter valued at about $68,000. Shine Investment Advisory Services Inc. raised its stake in shares of Insulet by 168.6% in the 2nd quarter. Shine Investment Advisory Services Inc. now owns 454 shares of the medical instruments supplier’s stock valued at $88,000 after purchasing an additional 285 shares during the period. Finally, First Quadrant L P CA acquired a new stake in shares of Insulet in the 2nd quarter valued at about $91,000.
Shares of NASDAQ:PODD traded down $4.18 during trading on Friday, reaching $204.83. 323,526 shares of the stock were exchanged, compared to its average volume of 380,672. Insulet Co. has a 12 month low of $121.00 and a 12 month high of $233.99. The firm has a market cap of $13.45 billion, a PE ratio of 731.56 and a beta of 0.82. The stock has a 50-day moving average price of $206.69 and a 200-day moving average price of $193.10. The company has a current ratio of 8.08, a quick ratio of 7.31 and a debt-to-equity ratio of 1.62.
Insulet (NASDAQ:PODD) last issued its quarterly earnings data on Thursday, August 6th. The medical instruments supplier reported $0.22 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.01) by $0.23. Insulet had a return on equity of 10.96% and a net margin of 2.20%. The company had revenue of $226.30 million during the quarter, compared to analysts’ expectations of $212.41 million. During the same quarter in the previous year, the company posted $0.02 earnings per share. The business’s revenue was up 27.8% on a year-over-year basis. On average, sell-side analysts expect that Insulet Co. will post 0.28 earnings per share for the current fiscal year.
In other news, SVP Eric Benjamin sold 14,912 shares of Insulet stock in a transaction that occurred on Thursday, July 23rd. The shares were sold at an average price of $210.00, for a total value of $3,131,520.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Charles Alpuche sold 3,415 shares of Insulet stock in a transaction that occurred on Tuesday, September 1st. The shares were sold at an average price of $220.11, for a total transaction of $751,675.65. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 23,327 shares of company stock valued at $4,890,896. Corporate insiders own 1.10% of the company’s stock.
Several research firms have issued reports on PODD. Wells Fargo & Co began coverage on Insulet in a research note on Tuesday, July 28th. They issued an “overweight” rating and a $231.00 price target on the stock. Stephens lifted their price target on Insulet from $165.00 to $230.00 and gave the company an “equal weight” rating in a research note on Friday, August 7th. They noted that the move was a valuation call. Raymond James lifted their price target on Insulet from $200.00 to $249.00 and gave the company an “outperform” rating in a research note on Friday, August 7th. Piper Sandler reissued an “overweight” rating and issued a $260.00 price target (up previously from $235.00) on shares of Insulet in a research note on Thursday, August 6th. Finally, Oppenheimer restated a “hold” rating and issued a $235.00 price objective on shares of Insulet in a report on Friday, August 7th. Two research analysts have rated the stock with a sell rating, thirteen have given a hold rating and eight have issued a buy rating to the company. Insulet has a consensus rating of “Hold” and a consensus price target of $221.44.
Insulet Corporation develops, manufactures, and sells insulin delivery systems for people with insulin-dependent diabetes. The company offers Omnipod System, which consists of self-adhesive disposable tubeless Omnipod device (the pod) that delivers insulin into the body; and Personal Diabetes Manager, a handheld wireless device, which programs the Pod.
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