EAM Investors LLC Has $2.87 Million Position in Insulet Co. (PODD)
EAM Investors LLC lessened its position in Insulet Co. (NASDAQ:PODD) by 9.1% during the second quarter, HoldingsChannel.com reports. The fund owned 33,504 shares of the medical instruments supplier’s stock after selling 3,371 shares during the quarter. EAM Investors LLC’s holdings in Insulet were worth $2,871,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds have also recently added to or reduced their stakes in PODD. Eagle Asset Management Inc. acquired a new stake in shares of Insulet in the 1st quarter worth about $47,002,000. Rockefeller Capital Management L.P. acquired a new stake in shares of Insulet in the 1st quarter worth about $38,007,000. Wasatch Advisors Inc. acquired a new stake in shares of Insulet in the 1st quarter worth about $34,841,000. Carillon Tower Advisers Inc. acquired a new stake in shares of Insulet in the 1st quarter worth about $33,573,000. Finally, OppenheimerFunds Inc. increased its holdings in shares of Insulet by 160.1% in the 1st quarter. OppenheimerFunds Inc. now owns 625,117 shares of the medical instruments supplier’s stock worth $54,185,000 after acquiring an additional 384,790 shares during the period.
A number of analysts recently weighed in on PODD shares. BidaskClub cut shares of Insulet from a “buy” rating to a “hold” rating in a report on Wednesday, July 18th. Morgan Stanley raised their target price on shares of Insulet from $87.00 to $96.00 and gave the company an “equal weight” rating in a research note on Friday, June 1st. Zacks Investment Research cut shares of Insulet from a “hold” rating to a “strong sell” rating in a research note on Thursday, April 26th. Piper Jaffray Companies raised their target price on shares of Insulet to $106.00 and gave the company an “overweight” rating in a research note on Monday, June 4th. Finally, Oppenheimer set a $90.00 target price on shares of Insulet and gave the company a “hold” rating in a research note on Friday, May 4th. Four analysts have rated the stock with a hold rating, fourteen have given a buy rating and two have assigned a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average target price of $91.94.
Insulet (NASDAQ:PODD) last released its earnings results on Thursday, August 2nd. The medical instruments supplier reported ($0.03) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.13) by $0.10. The firm had revenue of $124.26 million for the quarter, compared to analysts’ expectations of $132.89 million. Insulet had a negative net margin of 3.47% and a negative return on equity of 11.91%. Insulet’s quarterly revenue was up 13.2% on a year-over-year basis. During the same quarter last year, the company earned ($0.13) EPS. sell-side analysts forecast that Insulet Co. will post -0.1 earnings per share for the current fiscal year.
In other news, insider Shacey Petrovic sold 1,067 shares of Insulet stock in a transaction that occurred on Friday, June 1st. The shares were sold at an average price of $94.72, for a total value of $101,066.24. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP Michael P. Spears sold 7,496 shares of Insulet stock in a transaction that occurred on Wednesday, June 13th. The stock was sold at an average price of $100.00, for a total transaction of $749,600.00. The disclosure for this sale can be found here. Insiders sold a total of 41,193 shares of company stock worth $3,783,122 in the last ninety days. 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.
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