JPMorgan Chase & Co. Trims Stock Position in Insulet Corporation $PODD

JPMorgan Chase & Co. lessened its stake in Insulet Corporation (NASDAQ:PODD) by 94.8% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 278,265 shares of the medical instruments supplier’s stock after selling 5,064,519 shares during the period. JPMorgan Chase & Co.’s holdings in Insulet were worth $85,909,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently modified their holdings of the company. Winnow Wealth LLC purchased a new stake in Insulet in the 3rd quarter worth approximately $862,000. Machina Capital S.A.S. purchased a new position in shares of Insulet during the 3rd quarter valued at approximately $2,778,000. Jain Global LLC increased its holdings in shares of Insulet by 148.2% during the 3rd quarter. Jain Global LLC now owns 106,710 shares of the medical instruments supplier’s stock valued at $32,945,000 after purchasing an additional 63,719 shares in the last quarter. ING Groep NV lifted its stake in shares of Insulet by 88.5% in the 3rd quarter. ING Groep NV now owns 17,300 shares of the medical instruments supplier’s stock valued at $5,341,000 after purchasing an additional 8,123 shares during the period. Finally, Fisher Asset Management LLC lifted its stake in shares of Insulet by 38.1% in the 3rd quarter. Fisher Asset Management LLC now owns 46,273 shares of the medical instruments supplier’s stock valued at $14,286,000 after purchasing an additional 12,754 shares during the period.

Insiders Place Their Bets

In related news, Director Michael R. Minogue purchased 2,030 shares of the firm’s stock in a transaction that occurred on Wednesday, February 25th. The shares were purchased at an average cost of $246.23 per share, with a total value of $499,846.90. Following the purchase, the director owned 17,483 shares of the company’s stock, valued at $4,304,839.09. This represents a 13.14% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.39% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently commented on the stock. Evercore set a $340.00 price target on shares of Insulet in a research report on Thursday, February 19th. Barclays reiterated an “underweight” rating and issued a $286.00 price objective on shares of Insulet in a research report on Thursday, February 19th. Canaccord Genuity Group dropped their target price on Insulet from $450.00 to $435.00 and set a “buy” rating on the stock in a research report on Wednesday, February 18th. The Goldman Sachs Group cut their price target on Insulet from $363.00 to $326.00 and set a “buy” rating for the company in a research note on Thursday, February 19th. Finally, Oppenheimer reduced their price target on Insulet from $365.00 to $300.00 and set an “outperform” rating for the company in a report on Thursday, February 19th. Twenty investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Insulet has a consensus rating of “Moderate Buy” and an average price target of $354.24.

Insulet Price Performance

Shares of NASDAQ PODD opened at $230.28 on Thursday. The company has a debt-to-equity ratio of 0.61, a quick ratio of 2.15 and a current ratio of 2.81. The firm has a fifty day moving average of $254.64 and a 200 day moving average of $294.78. The firm has a market cap of $16.21 billion, a PE ratio of 65.79, a PEG ratio of 1.38 and a beta of 1.42. Insulet Corporation has a one year low of $216.49 and a one year high of $354.88.

Insulet (NASDAQ:PODD) last posted its quarterly earnings data on Wednesday, February 18th. The medical instruments supplier reported $1.55 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.48 by $0.07. The business had revenue of $783.80 million for the quarter, compared to the consensus estimate of $768.31 million. Insulet had a net margin of 9.12% and a return on equity of 24.90%. The company’s revenue was up 31.2% compared to the same quarter last year. During the same period last year, the firm posted $1.15 earnings per share. As a group, research analysts predict that Insulet Corporation will post 3.92 EPS for the current fiscal year.

About Insulet

Insulet Corporation is a medical device company headquartered in Acton, Massachusetts, that develops, manufactures and sells insulin-delivery systems for people with diabetes. The company’s core business is the design and commercialization of its Omnipod family of tubeless, wearable insulin pumps and the consumable Pods that deliver insulin. Insulet’s products aim to simplify insulin delivery for people with type 1 diabetes and insulin-requiring type 2 diabetes by offering an alternative to traditional insulin pens and tethered pump systems.

The company’s product portfolio includes the Omnipod System line—disposable, waterproof Pods that adhere to the skin and deliver insulin—and the associated controllers and mobile applications used to program and monitor insulin delivery.