Edgestream Partners L.P. Sells 1,110 Shares of Insulet Co. (NASDAQ:PODD)

Edgestream Partners L.P. decreased its stake in Insulet Co. (NASDAQ:PODD) by 19.0% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,721 shares of the medical instruments supplier’s stock after selling 1,110 shares during the period. Edgestream Partners L.P.’s holdings in Insulet were worth $953,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Sunbelt Securities Inc. acquired a new position in shares of Insulet during the 1st quarter worth approximately $29,000. International Assets Investment Management LLC acquired a new position in Insulet during the second quarter worth $32,000. UMB Bank n.a. raised its position in Insulet by 81.0% during the second quarter. UMB Bank n.a. now owns 181 shares of the medical instruments supplier’s stock worth $37,000 after acquiring an additional 81 shares in the last quarter. Jones Financial Companies Lllp acquired a new stake in Insulet in the fourth quarter valued at $40,000. Finally, CVA Family Office LLC grew its position in shares of Insulet by 138.1% in the 2nd quarter. CVA Family Office LLC now owns 250 shares of the medical instruments supplier’s stock valued at $50,000 after acquiring an additional 145 shares during the period.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the stock. Canaccord Genuity Group reiterated a “buy” rating and issued a $234.00 target price on shares of Insulet in a research note on Tuesday, July 23rd. Redburn Atlantic started coverage on Insulet in a research note on Thursday, May 30th. They set a “buy” rating and a $235.00 target price for the company. UBS Group boosted their target price on Insulet from $211.00 to $223.00 and gave the stock a “neutral” rating in a report on Friday, August 9th. Barclays raised their price target on Insulet from $200.00 to $220.00 and gave the company an “equal weight” rating in a report on Monday, August 12th. Finally, OTR Global reiterated a “mixed” rating on shares of Insulet in a report on Monday, June 10th. Four equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat, Insulet currently has a consensus rating of “Moderate Buy” and a consensus price target of $229.21.

Insulet Stock Down 0.5 %

NASDAQ PODD opened at $236.58 on Friday. The business has a fifty day moving average price of $202.88 and a two-hundred day moving average price of $188.32. The stock has a market capitalization of $16.59 billion, a PE ratio of 71.69, a PEG ratio of 4.38 and a beta of 1.21. Insulet Co. has a fifty-two week low of $125.82 and a fifty-two week high of $243.98. 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 (NASDAQ:PODD) last announced its quarterly earnings data on Thursday, August 8th. The medical instruments supplier reported $0.55 earnings per share for the quarter, missing the consensus estimate of $0.56 by ($0.01). Insulet had a return on equity of 30.73% and a net margin of 21.11%. The business had revenue of $488.50 million for the quarter, compared to the consensus estimate of $488.00 million. During the same quarter in the prior year, the company earned $0.38 earnings per share. Insulet’s quarterly revenue was up 23.2% compared to the same quarter last year. Equities analysts expect that Insulet Co. will post 3.04 earnings per share for the current fiscal year.

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.