Kopp Investment Advisors LLC cut its stake in Insulet Co. (NASDAQ:PODD) by 4.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 42,614 shares of the medical instruments supplier’s stock after selling 2,219 shares during the period. Insulet comprises about 2.9% of Kopp Investment Advisors LLC’s investment portfolio, making the stock its 12th largest position. Kopp Investment Advisors LLC owned 0.07% of Insulet worth $2,940,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Cerebellum GP LLC bought a new position in shares of Insulet in the fourth quarter worth about $122,000. Equitec Specialists LLC bought a new position in shares of Insulet in the fourth quarter worth about $145,000. James Hambro & Partners bought a new position in shares of Insulet in the fourth quarter worth about $165,000. C M Bidwell & Associates Ltd. bought a new position in shares of Insulet in the fourth quarter worth about $188,000. Finally, Diversified Trust Co bought a new position in shares of Insulet in the fourth quarter worth about $218,000.
A number of research analysts have recently commented on the stock. BidaskClub upgraded shares of Insulet from a “hold” rating to a “buy” rating in a report on Friday. Cowen reaffirmed an “outperform” rating and issued a $90.00 price objective (up from $80.00) on shares of Insulet in a research note on Thursday, February 22nd. Canaccord Genuity upped their price objective on shares of Insulet from $78.00 to $88.00 and gave the stock a “neutral” rating in a research note on Friday, February 23rd. Barclays reaffirmed an “overweight” rating and issued a $90.00 price objective (up from $85.00) on shares of Insulet in a research note on Thursday, February 22nd. Finally, Morgan Stanley reaffirmed an “equal weight” rating and issued a $87.00 price objective (up from $76.00) on shares of Insulet in a research note on Thursday, February 22nd. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and thirteen have given a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average target price of $73.24.
Shares of Insulet Co. (NASDAQ:PODD) opened at $80.33 on Monday. Insulet Co. has a 1 year low of $38.43 and a 1 year high of $83.56. The company has a debt-to-equity ratio of 3.57, a quick ratio of 5.85 and a current ratio of 6.24.
Insulet (NASDAQ:PODD) last released its quarterly earnings results on Wednesday, February 21st. The medical instruments supplier reported ($0.12) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.08) by ($0.04). The firm had revenue of $130.50 million for the quarter, compared to analysts’ expectations of $125.16 million. Insulet had a negative net margin of 5.79% and a negative return on equity of 29.73%. The business’s quarterly revenue was up 26.0% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.16) earnings per share. research analysts forecast that Insulet Co. will post -0.3 earnings per share for the current fiscal year.
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 features a self-adhesive disposable tubeless Omnipod device, which is worn on the body for approximately three days at a time and its wireless companion, the handheld Personal Diabetes Manager (PDM).
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