Columbus Circle Investors Has $19.80 Million Position in Insulet Co. (NASDAQ:PODD)

Columbus Circle Investors raised its holdings in Insulet Co. (NASDAQ:PODD) by 74.6% during the 2nd quarter, Holdings Channel reports. The institutional investor owned 165,863 shares of the medical instruments supplier’s stock after acquiring an additional 70,860 shares during the quarter. Columbus Circle Investors’ holdings in Insulet were worth $19,801,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Stephens Investment Management Group LLC increased its stake in Insulet by 19.6% in the 1st quarter. Stephens Investment Management Group LLC now owns 129,239 shares of the medical instruments supplier’s stock valued at $12,289,000 after buying an additional 21,206 shares during the last quarter. C WorldWide Group Holding A S increased its stake in shares of Insulet by 102.6% during the 1st quarter. C WorldWide Group Holding A S now owns 52,672 shares of the medical instruments supplier’s stock worth $5,009,000 after purchasing an additional 26,678 shares during the last quarter. Oak Ridge Investments LLC increased its stake in shares of Insulet by 4.0% during the 1st quarter. Oak Ridge Investments LLC now owns 119,497 shares of the medical instruments supplier’s stock worth $11,363,000 after purchasing an additional 4,648 shares during the last quarter. First Hawaiian Bank increased its stake in shares of Insulet by 2,758.3% during the 2nd quarter. First Hawaiian Bank now owns 1,715 shares of the medical instruments supplier’s stock worth $205,000 after purchasing an additional 1,655 shares during the last quarter. Finally, Pier Capital LLC increased its stake in shares of Insulet by 10.5% during the 1st quarter. Pier Capital LLC now owns 86,848 shares of the medical instruments supplier’s stock worth $8,258,000 after purchasing an additional 8,230 shares during the last quarter.

Several research firms have recently weighed in on PODD. ValuEngine lowered shares of Insulet from a “strong-buy” rating to a “buy” rating in a research note on Thursday, August 1st. BidaskClub upgraded shares of Insulet from a “buy” rating to a “strong-buy” rating in a research note on Saturday, July 13th. Northland Securities lowered shares of Insulet from an “outperform” rating to a “market perform” rating and set a $100.00 price objective on the stock. in a research note on Monday, June 10th. Canaccord Genuity boosted their price objective on shares of Insulet from $110.00 to $135.00 and gave the stock a “buy” rating in a research note on Tuesday, August 6th. Finally, JPMorgan Chase & Co. upgraded shares of Insulet from a “neutral” rating to an “overweight” rating and boosted their price objective for the stock from $120.00 to $155.00 in a research note on Tuesday, August 6th. Four research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company. Insulet presently has an average rating of “Buy” and an average price target of $131.71.

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

Shares of PODD stock opened at $151.41 on Friday. The company has a market capitalization of $9.21 billion, a price-to-earnings ratio of 3,028.20 and a beta of 1.08. The company has a debt-to-equity ratio of 2.43, a quick ratio of 3.91 and a current ratio of 4.72. The company has a 50-day simple moving average of $126.60 and a 200 day simple moving average of $104.81. Insulet Co. has a 52 week low of $70.80 and a 52 week high of $155.52.

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 Zacks’ consensus estimate of $0.03 by ($0.01). The business had revenue of $177.10 million during the quarter, compared to the consensus estimate of $163.63 million. Insulet had a net margin of 2.66% and a return on equity of 7.85%. The business’s revenue for the quarter was up 42.5% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.03) EPS. Sell-side analysts forecast that Insulet Co. will post 0.26 EPS for the current year.

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.

Read More: Hold Rating

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Institutional Ownership by Quarter for Insulet (NASDAQ:PODD)

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