The Virginia Retirement Systems ET AL Acquires New Stake in Insulet Corp. (PODD)

The Virginia Retirement Systems ET AL Acquires New Stake in Insulet Corp. (PODD)

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).

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