Coatue Management LLC Sells 378,319 Shares of Insulet Co. (NASDAQ:PODD)

Coatue Management LLC reduced its stake in Insulet Co. (NASDAQ:PODD) by 39.1% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 589,020 shares of the medical instruments supplier’s stock after selling 378,319 shares during the period. Coatue Management LLC owned approximately 0.86% of Insulet worth $161,692,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of PODD. Friess Associates LLC bought a new stake in shares of Insulet in the first quarter valued at approximately $26,000. Quadrant Capital Group LLC boosted its stake in shares of Insulet by 17.5% in the first quarter. Quadrant Capital Group LLC now owns 302 shares of the medical instruments supplier’s stock valued at $79,000 after buying an additional 45 shares during the period. Berman Capital Advisors LLC boosted its stake in shares of Insulet by 204.8% in the second quarter. Berman Capital Advisors LLC now owns 384 shares of the medical instruments supplier’s stock valued at $105,000 after buying an additional 258 shares during the period. KB Financial Partners LLC bought a new stake in shares of Insulet in the first quarter valued at approximately $126,000. Finally, Zions Bancorporation N.A. boosted its stake in shares of Insulet by 221.3% in the first quarter. Zions Bancorporation N.A. now owns 665 shares of the medical instruments supplier’s stock valued at $174,000 after buying an additional 458 shares during the period. Institutional investors and hedge funds own 99.99% of the company’s stock.

Shares of NASDAQ:PODD traded up $4.37 during trading on Thursday, hitting $304.62. 5,804 shares of the company were exchanged, compared to its average volume of 445,072. The business’s 50 day moving average is $291.93 and its 200-day moving average is $279.01. The company has a market capitalization of $20.98 billion, a P/E ratio of -652.72 and a beta of 0.67. The company has a quick ratio of 4.95, a current ratio of 5.87 and a debt-to-equity ratio of 2.69. Insulet Co. has a 1-year low of $214.93 and a 1-year high of $309.99.

Insulet (NASDAQ:PODD) last posted its quarterly earnings data on Thursday, August 5th. The medical instruments supplier reported $0.10 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.12 by ($0.02). The company had revenue of $263.20 million during the quarter, compared to analyst estimates of $257.80 million. Insulet had a negative net margin of 3.06% and a positive return on equity of 0.21%. As a group, sell-side analysts anticipate that Insulet Co. will post 0.51 earnings per share for the current year.

PODD has been the subject of several recent research reports. Cowen boosted their price target on Insulet from $285.00 to $310.00 and gave the company an “outperform” rating in a research note on Wednesday, July 21st. Citigroup upped their target price on Insulet from $310.00 to $325.00 and gave the stock a “buy” rating in a research note on Friday, August 6th. SVB Leerink cut their target price on Insulet from $325.00 to $300.00 and set an “outperform” rating for the company in a research note on Friday, August 6th. Finally, Canaccord Genuity upped their target price on Insulet from $280.00 to $300.00 and gave the stock a “buy” rating in a research note on Friday, August 6th. Seven analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Buy” and a consensus target price of $282.31.

In other Insulet news, EVP Bret Christensen sold 3,000 shares of the company’s stock in a transaction on Thursday, August 26th. The shares were sold at an average price of $294.13, for a total transaction of $882,390.00. Following the sale, the executive vice president now owns 16,331 shares of the company’s stock, valued at $4,803,437.03. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Shacey Petrovic sold 15,000 shares of the company’s stock in a transaction on Friday, October 1st. The shares were sold at an average price of $282.87, for a total transaction of $4,243,050.00. The disclosure for this sale can be found here. Corporate insiders own 1.00% of the company’s stock.

About Insulet

Insulet Corp. is a medical device company, which engages in the development, manufacture, and marketing of an insulin infusion system for people with insulin-dependent diabetes. It specializes in diabetes supplies, including the OmniPod System, as well as other diabetes related products and supplies such as blood glucose testing supplies, traditional insulin pumps, pump supplies, and pharmaceuticals.

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Institutional Ownership by Quarter for Insulet (NASDAQ:PODD)

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