Lord Abbett & CO. LLC Has $43.01 Million Stake in Insulet Corporation (PODD)
Lord Abbett & CO. LLC grew its position in Insulet Corporation (NASDAQ:PODD) by 29.6% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 838,302 shares of the medical instruments supplier’s stock after acquiring an additional 191,217 shares during the period. Lord Abbett & CO. LLC owned about 1.44% of Insulet Corporation worth $43,013,000 at the end of the most recent quarter.
Other large investors have also recently modified their holdings of the company. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of Insulet Corporation by 11.4% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,302 shares of the medical instruments supplier’s stock valued at $118,000 after acquiring an additional 235 shares in the last quarter. SG Americas Securities LLC purchased a new stake in shares of Insulet Corporation in the second quarter valued at about $180,000. Diversified Trust Co purchased a new stake in shares of Insulet Corporation in the second quarter valued at about $205,000. Wrapmanager Inc. purchased a new stake in shares of Insulet Corporation in the second quarter valued at about $217,000. Finally, RNC Capital Management LLC purchased a new stake in shares of Insulet Corporation in the second quarter valued at about $225,000.
A number of analysts recently commented on the stock. BidaskClub raised shares of Insulet Corporation from a “buy” rating to a “strong-buy” rating in a report on Tuesday, June 27th. Canaccord Genuity reissued a “hold” rating and set a $50.00 price objective (up previously from $42.00) on shares of Insulet Corporation in a report on Tuesday, July 11th. Jefferies Group LLC reissued a “buy” rating and set a $48.00 price objective on shares of Insulet Corporation in a report on Friday, July 14th. Cowen and Company reissued a “buy” rating and set a $52.00 price objective on shares of Insulet Corporation in a report on Friday, July 14th. Finally, BTIG Research downgraded shares of Insulet Corporation from a “buy” rating to a “neutral” rating in a report on Monday, July 17th. Eight analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company has an average rating of “Buy” and an average price target of $56.36.
In other Insulet Corporation news, EVP Charles Alpuche acquired 2,500 shares of Insulet Corporation stock in a transaction dated Wednesday, September 6th. The stock was bought at an average price of $58.08 per share, for a total transaction of $145,200.00. The acquisition was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 1.90% of the company’s stock.
Insulet Corporation (NASDAQ PODD) traded down 0.32% during mid-day trading on Friday, reaching $61.77. 41,482 shares of the company were exchanged. The company’s 50 day moving average price is $58.52 and its 200-day moving average price is $50.06. The stock’s market capitalization is $3.59 billion. Insulet Corporation has a 12 month low of $30.69 and a 12 month high of $62.82.
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, meeting the Thomson Reuters’ 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 during the quarter, compared to analyst estimates of $106.23 million. During the same quarter last year, the firm posted ($0.08) EPS. The business’s revenue for the quarter was up 26.0% on a year-over-year basis. On average, equities analysts expect that Insulet Corporation will post ($0.51) earnings per share for the current fiscal year.
Insulet Corporation 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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