Flagship Harbor Advisors LLC Purchases 125 Shares of Insulet Co. (NASDAQ:PODD)

Flagship Harbor Advisors LLC raised its stake in shares of Insulet Co. (NASDAQ:PODD) by 8.6% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 1,577 shares of the medical instruments supplier’s stock after acquiring an additional 125 shares during the period. Flagship Harbor Advisors LLC’s holdings in Insulet were worth $188,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of PODD. Cortina Asset Management LLC raised its stake in shares of Insulet by 5.4% during the 2nd quarter. Cortina Asset Management LLC now owns 2,447 shares of the medical instruments supplier’s stock worth $292,000 after buying an additional 126 shares in the last quarter. CIBC Private Wealth Group LLC increased its stake in Insulet by 0.8% in the 1st quarter. CIBC Private Wealth Group LLC now owns 16,404 shares of the medical instruments supplier’s stock valued at $1,560,000 after purchasing an additional 129 shares in the last quarter. OLD National Bancorp IN increased its stake in Insulet by 8.2% in the 1st quarter. OLD National Bancorp IN now owns 2,839 shares of the medical instruments supplier’s stock valued at $270,000 after purchasing an additional 216 shares in the last quarter. Manchester Capital Management LLC purchased a new position in Insulet in the 1st quarter valued at approximately $31,000. Finally, Stephens Inc. AR increased its stake in Insulet by 14.3% in the 1st quarter. Stephens Inc. AR now owns 2,630 shares of the medical instruments supplier’s stock valued at $250,000 after purchasing an additional 329 shares in the last quarter.

NASDAQ:PODD traded down $1.10 during trading hours on Friday, reaching $154.09. 414,150 shares of the company traded hands, compared to its average volume of 672,745. Insulet Co. has a 1-year low of $70.80 and a 1-year high of $158.18. The firm’s 50-day moving average is $132.04 and its 200-day moving average is $107.18. The company has a debt-to-equity ratio of 2.43, a current ratio of 4.72 and a quick ratio of 3.91. The stock has a market cap of $9.35 billion, a P/E ratio of 3,081.80 and a beta of 1.08.

Insulet (NASDAQ:PODD) last posted its quarterly earnings data on Monday, August 5th. The medical instruments supplier reported $0.02 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.03 by ($0.01). Insulet had a return on equity of 7.85% and a net margin of 2.66%. The business had revenue of $177.10 million for the quarter, compared to analyst estimates of $163.63 million. During the same quarter last year, the business earned ($0.03) EPS. Insulet’s revenue for the quarter was up 42.5% compared to the same quarter last year. As a group, research analysts predict that Insulet Co. will post 0.26 earnings per share for the current year.

In related news, insider Shacey Petrovic sold 895 shares of the stock in a transaction on Wednesday, June 5th. The stock was sold at an average price of $113.00, for a total value of $101,135.00. Following the transaction, the insider now directly owns 95,559 shares of the company’s stock, valued at approximately $10,798,167. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Sally Crawford sold 28,347 shares of the stock in a transaction on Friday, May 31st. The stock was sold at an average price of $108.60, for a total value of $3,078,484.20. Following the completion of the transaction, the director now directly owns 28,469 shares in the company, valued at $3,091,733.40. The disclosure for this sale can be found here. 3.50% of the stock is owned by company insiders.

Several equities analysts recently weighed in on the company. Guggenheim raised their price objective on Insulet from $100.00 to $145.00 and gave the company a “positive” rating in a research note on Tuesday, August 6th. Raymond James raised their price objective on Insulet from $125.00 to $135.00 and gave the company an “outperform” rating in a research note on Tuesday, August 6th. Piper Jaffray Companies raised their price objective on Insulet from $130.00 to $160.00 and gave the company an “overweight” rating in a research note on Tuesday, August 6th. Canaccord Genuity raised their price objective on Insulet from $110.00 to $135.00 and gave the company a “buy” rating in a research note on Tuesday, August 6th. Finally, Jefferies Financial Group raised their price objective on Insulet from $105.00 to $140.00 and gave the company a “buy” rating in a research note on Tuesday, August 6th. Four equities research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the stock. Insulet presently has an average rating of “Buy” and an average price target of $131.71.

About Insulet

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.

See Also: Quick Ratio

Institutional Ownership by Quarter for Insulet (NASDAQ:PODD)

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