Virginia Retirement Systems ET AL bought a new position in shares of Insulet Corp. (NASDAQ:PODD) during the second quarter, Holdings Channel reports. The firm bought 13,200 shares of the company’s stock, valued at approximately $399,000.
Several other large investors also recently bought and sold shares of the stock. Banbury Partners LLC raised its stake in Insulet Corp. by 140.4% in the first quarter. Banbury Partners LLC now owns 444,668 shares of the company’s stock worth $14,745,000 after buying an additional 259,700 shares during the period. Arrowgrass Capital Partners US LP bought a new stake in Insulet Corp. during the first quarter worth about $5,565,000. Daruma Capital Management LLC raised its stake in Insulet Corp. by 12.7% in the first quarter. Daruma Capital Management LLC now owns 1,483,179 shares of the company’s stock worth $49,182,000 after buying an additional 166,639 shares during the period. Vanguard Group Inc. raised its stake in Insulet Corp. by 3.1% in the second quarter. Vanguard Group Inc. now owns 4,184,980 shares of the company’s stock worth $126,553,000 after buying an additional 124,551 shares during the period. Finally, Canada Pension Plan Investment Board bought a new stake in Insulet Corp. during the first quarter worth about $3,973,000.
Shares of Insulet Corp. (NASDAQ:PODD) opened at 39.865 on Friday. The company’s market cap is $2.28 billion. The company has a 50 day moving average price of $42.32 and a 200 day moving average price of $35.32. Insulet Corp. has a one year low of $23.94 and a one year high of $45.60.
Insulet Corp. (NASDAQ:PODD) last posted its quarterly earnings data on Wednesday, August 3rd. The company reported ($0.08) EPS for the quarter, topping analysts’ consensus estimates of ($0.17) by $0.09. The business had revenue of $87.30 million for the quarter, compared to analyst estimates of $81.10 million. Insulet Corp. had a negative return on equity of 137.88% and a negative net margin of 17.68%. The firm’s revenue for the quarter was up 44.2% on a year-over-year basis. During the same period in the previous year, the company posted ($0.30) earnings per share. Equities research analysts expect that Insulet Corp. will post ($0.44) earnings per share for the current year.
A number of brokerages have weighed in on PODD. Leerink Swann restated an “outperform” rating and set a $50.00 price objective (up previously from $40.00) on shares of Insulet Corp. in a research note on Thursday, August 4th. JPMorgan Chase & Co. restated a “hold” rating and set a $38.00 price objective on shares of Insulet Corp. in a research note on Wednesday, August 17th. BTIG Research began coverage on Insulet Corp. in a research note on Tuesday, July 12th. They set a “neutral” rating for the company. Zacks Investment Research upgraded Insulet Corp. from a “hold” rating to a “buy” rating and set a $49.00 price objective for the company in a research note on Tuesday, August 9th. Finally, Wedbush restated an “outperform” rating and set a $44.00 price objective on shares of Insulet Corp. in a research note on Wednesday, July 20th. Eight analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Insulet Corp. presently has a consensus rating of “Buy” and an average price target of $41.50.
About Insulet Corp.
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 consists of the OmniPod, a small, self-adhesive disposable tubeless OmniPod device, which is worn on the body for approximately three days at a time and its wireless handheld Personal Diabetes Manager (PDM).