JPMorgan Chase & Co. decreased its position in Insulet Corp. (NASDAQ:PODD) by 86.6% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 417,718 shares of the company’s stock after selling 2,698,622 shares during the period. JPMorgan Chase & Co. owned 0.73% of Insulet Corp. worth $12,632,000 at the end of the most recent reporting period.
Other institutional investors have also added to or reduced their stakes in the company. BNP Paribas Arbitrage SA increased its stake in shares of Insulet Corp. by 113.5% in the second quarter. BNP Paribas Arbitrage SA now owns 3,691 shares of the company’s stock worth $112,000 after buying an additional 1,962 shares during the last quarter. Parametrica Management Ltd purchased a new stake in shares of Insulet Corp. during the second quarter worth about $222,000. Menta Capital LLC purchased a new stake in shares of Insulet Corp. during the first quarter worth about $269,000. HAP Trading LLC purchased a new stake in shares of Insulet Corp. during the second quarter worth about $367,000. Finally, Jennison Associates LLC purchased a new stake in shares of Insulet Corp. during the second quarter worth about $457,000.
Insulet Corp. (NASDAQ:PODD) traded up 3.57% on Friday, reaching $40.94. 797,877 shares of the company’s stock traded hands. The firm’s market cap is $2.34 billion. The firm’s 50-day moving average is $42.87 and its 200 day moving average is $35.01. Insulet Corp. has a 12 month low of $23.94 and a 12 month high of $45.60.
Insulet Corp. (NASDAQ:PODD) last posted its quarterly earnings data on Wednesday, August 3rd. The company reported ($0.08) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.17) by $0.09. The company had revenue of $87.30 million for the quarter, compared to analysts’ expectations of $81.10 million. Insulet Corp. had a negative net margin of 17.68% and a negative return on equity of 137.88%. Insulet Corp.’s revenue for the quarter was up 44.2% compared to the same quarter last year. During the same period in the prior year, the business earned ($0.30) earnings per share. Equities analysts predict that Insulet Corp. will post ($0.44) EPS for the current year.
A number of equities research analysts have issued reports on the stock. B. Riley assumed coverage on shares of Insulet Corp. in a research note on Monday, September 26th. They set a “neutral” rating and a $46.00 price objective on the stock. Jefferies Group increased their price objective on shares of Insulet Corp. from $41.00 to $45.00 and gave the stock a “buy” rating in a research note on Thursday, August 4th. Piper Jaffray Cos. reiterated an “overweight” rating and set a $46.00 price objective (up from $41.00) on shares of Insulet Corp. in a research note on Thursday, August 4th. Wedbush restated an “outperform” rating and issued a $44.00 price target on shares of Insulet Corp. in a research note on Wednesday, June 15th. Finally, Zacks Investment Research upgraded shares of Insulet Corp. from a “hold” rating to a “buy” rating and set a $35.00 price target on the stock in a research note on Tuesday, July 5th. Eight investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus target price of $41.50.
About Insulet Corp.
Insulet Corporation is engaged in the development, manufacturing and sale of the OmniPod Insulin Management System (the OmniPod System), an insulin delivery system for people with insulin-dependent diabetes. The OmniPod System consists of the OmniPod, a small, self-adhesive disposable tubeless OmniPod device, which is worn on the body for approximately three days at a time and its wireless handheld Personal Diabetes Manager (PDM).
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