KAMES CAPITAL plc Reduces Holdings in Insulet Co. (NASDAQ:PODD)

KAMES CAPITAL plc decreased its position in shares of Insulet Co. (NASDAQ:PODD) by 28.4% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 376,156 shares of the medical instruments supplier’s stock after selling 148,946 shares during the period. Insulet comprises approximately 1.6% of KAMES CAPITAL plc’s holdings, making the stock its 22nd biggest holding. KAMES CAPITAL plc owned about 0.62% of Insulet worth $62,013,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in PODD. Vanguard Group Inc. grew its holdings in Insulet by 0.5% during the 2nd quarter. Vanguard Group Inc. now owns 5,284,289 shares of the medical instruments supplier’s stock worth $630,838,000 after acquiring an additional 24,197 shares in the last quarter. William Blair Investment Management LLC boosted its holdings in shares of Insulet by 8.8% in the 2nd quarter. William Blair Investment Management LLC now owns 2,334,135 shares of the medical instruments supplier’s stock valued at $278,649,000 after buying an additional 189,147 shares during the period. JPMorgan Chase & Co. boosted its holdings in shares of Insulet by 5.8% in the 2nd quarter. JPMorgan Chase & Co. now owns 1,619,136 shares of the medical instruments supplier’s stock valued at $188,808,000 after buying an additional 88,440 shares during the period. Marshall Wace North America L.P. acquired a new position in shares of Insulet in the 2nd quarter valued at about $87,481,000. Finally, Price T Rowe Associates Inc. MD boosted its holdings in shares of Insulet by 9.7% in the 2nd quarter. Price T Rowe Associates Inc. MD now owns 498,596 shares of the medical instruments supplier’s stock valued at $59,522,000 after buying an additional 44,227 shares during the period.

Shares of PODD stock traded up $0.11 during midday trading on Monday, reaching $153.85. 30,374 shares of the company were exchanged, compared to its average volume of 1,072,952. Insulet Co. has a 12 month low of $70.80 and a 12 month high of $168.98. The company has a market cap of $9.43 billion, a P/E ratio of 3,086.40 and a beta of 1.02. The company’s 50 day moving average price is $154.99 and its two-hundred day moving average price is $124.63. The company has a debt-to-equity ratio of 2.43, a quick ratio of 3.91 and a current ratio of 4.72.

Insulet (NASDAQ:PODD) last released its quarterly earnings results on Monday, August 5th. The medical instruments supplier reported $0.02 EPS for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.01). Insulet had a return on equity of 7.85% and a net margin of 2.66%. The company had revenue of $177.10 million for the quarter, compared to the consensus estimate of $163.63 million. During the same quarter last year, the firm posted ($0.03) earnings per share. The firm’s quarterly revenue was up 42.5% compared to the same quarter last year. As a group, sell-side analysts predict that Insulet Co. will post 0.23 earnings per share for the current year.

In related news, CEO Shacey Petrovic sold 649 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $152.40, for a total value of $98,907.60. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, SVP Michael P. Spears sold 4,153 shares of the business’s stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $146.12, for a total transaction of $606,836.36. Following the completion of the sale, the senior vice president now owns 22,626 shares in the company, valued at $3,306,111.12. The disclosure for this sale can be found here. 3.50% of the stock is currently owned by insiders.

Several research firms have recently commented on PODD. Jefferies Financial Group lifted their price target on shares of Insulet from $105.00 to $140.00 and gave the company a “buy” rating in a report on Tuesday, August 6th. Svb Leerink lifted their price target on shares of Insulet from $160.00 to $185.00 and gave the company an “outperform” rating in a report on Tuesday, September 24th. Leerink Swann reaffirmed an “outperform” rating and issued a $185.00 price target (up from $160.00) on shares of Insulet in a report on Tuesday, September 24th. Raymond James lifted their price target on shares of Insulet from $125.00 to $135.00 and gave the company an “outperform” rating in a report on Tuesday, August 6th. Finally, BMO Capital Markets lifted their price target on shares of Insulet from $130.00 to $150.00 and gave the company an “outperform” rating in a report on Tuesday, August 6th. Eight investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company’s stock. Insulet presently has an average rating of “Buy” and a consensus price target of $145.36.

Insulet Profile

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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Institutional Ownership by Quarter for Insulet (NASDAQ:PODD)

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