Schwab Charles Investment Management Inc. Has $12.97 Million Stake in Insulet Corporation (PODD)
Schwab Charles Investment Management Inc. lifted its stake in Insulet Corporation (NASDAQ:PODD) by 3.4% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 252,670 shares of the medical instruments supplier’s stock after buying an additional 8,399 shares during the period. Schwab Charles Investment Management Inc. owned approximately 0.44% of Insulet Corporation worth $12,965,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Lebenthal Lisanti Capital Growth LLC purchased a new position in shares of Insulet Corporation in the second quarter worth about $799,000. Kornitzer Capital Management Inc. KS increased its holdings in shares of Insulet Corporation by 1.2% in the second quarter. Kornitzer Capital Management Inc. KS now owns 280,760 shares of the medical instruments supplier’s stock worth $14,406,000 after buying an additional 3,260 shares during the period. Strs Ohio increased its holdings in shares of Insulet Corporation by 35.0% in the second quarter. Strs Ohio now owns 5,400 shares of the medical instruments supplier’s stock worth $277,000 after buying an additional 1,400 shares during the period. Russell Investments Group Ltd. increased its holdings in shares of Insulet Corporation by 19.9% in the second quarter. Russell Investments Group Ltd. now owns 29,054 shares of the medical instruments supplier’s stock worth $1,491,000 after buying an additional 4,824 shares during the period. Finally, Diversified Trust Co purchased a new position in shares of Insulet Corporation in the second quarter worth about $205,000.
In other news, EVP Charles Alpuche acquired 2,500 shares of Insulet Corporation stock in a transaction that occurred on Wednesday, September 6th. The shares were bought at an average cost of $58.08 per share, with a total value of $145,200.00. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 1.90% of the company’s stock.
Several research firms have recently commented on PODD. Barclays PLC began coverage on Insulet Corporation in a report on Friday, September 15th. They issued an “overweight” rating and a $65.00 price objective on the stock. BidaskClub upgraded Insulet Corporation from a “buy” rating to a “strong-buy” rating in a report on Friday, August 25th. Canaccord Genuity reiterated a “hold” rating and issued a $50.00 price objective on shares of Insulet Corporation in a report on Wednesday. Jefferies Group LLC reiterated a “buy” rating and issued a $58.00 price objective (up previously from $48.00) on shares of Insulet Corporation in a report on Wednesday, August 9th. Finally, Oppenheimer Holdings, Inc. reiterated a “hold” rating on shares of Insulet Corporation in a report on Saturday, July 22nd. Eight equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average price target of $51.50.
Insulet Corporation (NASDAQ:PODD) opened at 57.74 on Thursday. The company’s 50-day moving average price is $56.08 and its 200-day moving average price is $47.79. Insulet Corporation has a one year low of $30.69 and a one year high of $59.99. The stock’s market cap is $3.35 billion.
Insulet Corporation (NASDAQ:PODD) last posted its quarterly earnings data on Thursday, August 3rd. The medical instruments supplier reported ($0.13) earnings per share for the quarter, hitting the Zacks’ consensus estimate of ($0.13). Insulet Corporation had a negative net margin of 7.30% and a negative return on equity of 46.74%. The company had revenue of $110.00 million for the quarter, compared to analyst estimates of $106.23 million. During the same period in the prior year, the company posted ($0.08) EPS. The firm’s revenue for the quarter was up 26.0% on a year-over-year basis. Analysts forecast that Insulet Corporation will post ($0.51) EPS for the current fiscal year.
Insulet Corporation Company Profile
Insulet Corporation is engaged in the development, manufacturing and sale of the OmniPod Insulin Management System (the OmniPod System), an insulin delivery system for people with insulin-dependent diabetes. The Omnipod System features a self-adhesive disposable tubeless Omnipod device, which is worn on the body for approximately three days at a time and its wireless companion, the handheld Personal Diabetes Manager (PDM).
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