Insulet Co. (NASDAQ:PODD) Shares Sold by Eastern Bank

Eastern Bank decreased its position in shares of Insulet Co. (NASDAQ:PODD) by 26.2% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,510 shares of the medical instruments supplier’s stock after selling 1,603 shares during the quarter. Eastern Bank’s holdings in Insulet were worth $1,050,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Diversified Trust Co boosted its position in Insulet by 90.9% during the second quarter. Diversified Trust Co now owns 9,130 shares of the medical instruments supplier’s stock worth $1,842,000 after purchasing an additional 4,348 shares in the last quarter. SG Americas Securities LLC grew its stake in Insulet by 349.3% in the 1st quarter. SG Americas Securities LLC now owns 29,575 shares of the medical instruments supplier’s stock valued at $5,069,000 after acquiring an additional 22,993 shares during the last quarter. Duality Advisers LP increased its holdings in Insulet by 89.4% during the 1st quarter. Duality Advisers LP now owns 19,131 shares of the medical instruments supplier’s stock valued at $3,279,000 after acquiring an additional 9,029 shares in the last quarter. Diversify Advisory Services LLC purchased a new stake in shares of Insulet in the first quarter valued at about $1,043,000. Finally, Intech Investment Management LLC grew its position in shares of Insulet by 113.8% in the first quarter. Intech Investment Management LLC now owns 6,649 shares of the medical instruments supplier’s stock valued at $1,140,000 after purchasing an additional 3,539 shares during the last quarter.

Insulet Stock Performance

Shares of NASDAQ:PODD opened at $236.60 on Wednesday. The business has a 50-day moving average of $219.16 and a two-hundred day moving average of $197.79. The firm has a market capitalization of $16.59 billion, a PE ratio of 43.02, a P/E/G ratio of 4.42 and a beta of 1.21. The company has a debt-to-equity ratio of 1.36, a current ratio of 3.60 and a quick ratio of 2.71. Insulet Co. has a 12 month low of $128.68 and a 12 month high of $243.98.

Insulet (NASDAQ:PODD) last posted its earnings results on Thursday, August 8th. The medical instruments supplier reported $0.55 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.56 by ($0.01). The business had revenue of $488.50 million for the quarter, compared to analyst estimates of $488.00 million. Insulet had a return on equity of 30.73% and a net margin of 21.11%. The firm’s revenue for the quarter was up 23.2% compared to the same quarter last year. During the same period last year, the company posted $0.38 EPS. As a group, research analysts forecast that Insulet Co. will post 3.04 earnings per share for the current year.

Analyst Ratings Changes

A number of research firms recently issued reports on PODD. Barclays upped their target price on Insulet from $200.00 to $220.00 and gave the company an “equal weight” rating in a research note on Monday, August 12th. BTIG Research increased their price objective on Insulet from $250.00 to $260.00 and gave the company a “buy” rating in a research note on Monday, October 14th. Canaccord Genuity Group upped their target price on shares of Insulet from $236.00 to $269.00 and gave the company a “buy” rating in a report on Wednesday, September 25th. Piper Sandler boosted their price objective on shares of Insulet from $230.00 to $285.00 and gave the company an “overweight” rating in a research report on Tuesday, September 17th. Finally, UBS Group raised their target price on shares of Insulet from $211.00 to $223.00 and gave the stock a “neutral” rating in a research report on Friday, August 9th. Three equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat, Insulet has an average rating of “Moderate Buy” and an average target price of $242.29.

About Insulet

Insulet Corporation develops, manufactures, and sells insulin delivery systems for people with insulin-dependent diabetes. The company's Omnipod platform includes the Omnipod 5 Automated Insulin Delivery System (Omnipod 5) which includes a proprietary AID algorithm embedded in the Pod that integrates with a third-party continuous glucose monitor to obtain glucose values through wireless bluetooth communication; Omnipod DASH that features a bluetooth enabled Pod that is controlled by a smartphone-like Personal Diabetes Manager with a color touch screen user interface; and Omnipod GO, a standalone, wearable, insulin delivery system that provides a fixed rate of continuous rapid-acting insulin for 72 hours.