Asset Management One Co. Ltd. Sells 25,680 Shares of Insulet Corporation $PODD

Key Points

• Asset Management One cut its Insulet stake by 89.3% in the third quarter, selling 25,680 shares and retaining 3,084 shares worth about $402,000.
• Analyst views are mixed, but the consensus rating is Hold, with an average price target of $186.68; 13 analysts rate the stock Buy, 12 Hold and one Sell.
• Insulet beat quarterly earnings and revenue estimates, reporting EPS of $1.66 and revenue of $801.7 million, up 23.5% year over year.

Asset Management One Co. Ltd. lessened its stake in Insulet Corporation (NASDAQ:PODD - Free Report) by 89.3% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,084 shares of the medical instruments supplier's stock after selling 25,680 shares during the period. Asset Management One Co. Ltd.'s holdings in Insulet were worth $402,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. State of Wyoming grew its position in Insulet by 34.6% in the first quarter. State of Wyoming now owns 284 shares of the medical instruments supplier's stock worth $60,000 after acquiring an additional 73 shares in the last quarter. American Trust raised its position in Insulet by 8.6% during the first quarter. American Trust now owns 1,180 shares of the medical instruments supplier's stock valued at $248,000 after purchasing an additional 93 shares in the last quarter. Basecamp Wealth Advisors LLC lifted its stake in Insulet by 48.3% during the first quarter. Basecamp Wealth Advisors LLC now owns 313 shares of the medical instruments supplier's stock worth $66,000 after purchasing an additional 102 shares during the last quarter. Elevation Wealth Partners LLC lifted its stake in Insulet by 115.6% during the third quarter. Elevation Wealth Partners LLC now owns 194 shares of the medical instruments supplier's stock worth $25,000 after purchasing an additional 104 shares during the last quarter. Finally, Pinnacle Associates Ltd. increased its position in shares of Insulet by 6.1% during the 3rd quarter. Pinnacle Associates Ltd. now owns 1,855 shares of the medical instruments supplier's stock valued at $242,000 after purchasing an additional 107 shares during the last quarter.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the company. Barclays raised Insulet to a "hold" rating in a report on Wednesday, October 7th. Royal Bank Of Canada reduced their price target on shares of Insulet from $245.00 to $160.00 and set an "outperform" rating on the stock in a research report on Thursday, August 6th. JPMorgan Chase & Co. downgraded shares of Insulet from an "overweight" rating to a "neutral" rating and decreased their price target for the stock from $275.00 to $152.00 in a research note on Thursday, August 6th. BTIG Research lowered shares of Insulet from a "buy" rating to a "neutral" rating in a report on Thursday, August 6th. Finally, Wall Street Zen cut shares of Insulet from a "buy" rating to a "hold" rating in a research note on Saturday, October 24th. Thirteen research analysts have rated the stock with a Buy rating, twelve have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Insulet presently has a consensus rating of "Hold" and a consensus target price of $186.68.

Insulet Stock Performance

Shares of PODD stock opened at $154.86 on Wednesday. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.83 and a current ratio of 2.48. Insulet Corporation has a fifty-two week low of $126.40 and a fifty-two week high of $354.88. The stock has a 50 day moving average price of $141.21 and a two-hundred day moving average price of $178.61. The company has a market capitalization of $10.74 billion, a P/E ratio of 28.95, a PEG ratio of 1.21 and a beta of 1.06.

Insulet (NASDAQ:PODD - Get Free Report) last issued its earnings results on Wednesday, August 5th. The medical instruments supplier reported $1.66 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.47 by $0.19. Insulet had a net margin of 12.29% and a return on equity of 29.29%. The firm had revenue of $801.70 million for the quarter, compared to analysts' expectations of $787.39 million. During the same quarter last year, the business earned $1.17 earnings per share. The business's revenue was up 23.5% on a year-over-year basis. Analysts expect that Insulet Corporation will post 6.51 earnings per share for the current year.

Insulet Company Profile

Insulet Corporation is a medical device company that develops, manufactures and sells wearable, tubeless insulin delivery systems for people with insulin-dependent diabetes. Its products are designed to provide an alternative to traditional insulin injections and conventional tubed insulin pumps.

The company's primary product platform is Omnipod, which includes the disposable, wearable Pod and a handheld controller or compatible smartphone-based application. Omnipod products include the Omnipod DASH system and the Omnipod 5 Automated Insulin Delivery System, which is designed to integrate with compatible continuous glucose monitoring technology to help automate insulin delivery.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.