Central Pacific Bank Trust Division Cuts Stock Position in Insulet Corporation $PODD

Central Pacific Bank Trust Division cut its position in Insulet Corporation (NASDAQ:PODD) by 99.8% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 480 shares of the medical instruments supplier’s stock after selling 291,000 shares during the quarter. Central Pacific Bank Trust Division’s holdings in Insulet were worth $148,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of PODD. Norges Bank purchased a new position in shares of Insulet in the 2nd quarter worth approximately $324,689,000. Qube Research & Technologies Ltd acquired a new stake in Insulet in the second quarter valued at approximately $131,439,000. Worldquant Millennium Advisors LLC purchased a new position in Insulet in the second quarter worth $80,082,000. Kayne Anderson Rudnick Investment Management LLC lifted its holdings in shares of Insulet by 1,316.5% during the 1st quarter. Kayne Anderson Rudnick Investment Management LLC now owns 193,511 shares of the medical instruments supplier’s stock valued at $50,818,000 after purchasing an additional 179,850 shares during the last quarter. Finally, AustralianSuper Pty Ltd lifted its holdings in shares of Insulet by 487.5% during the 2nd quarter. AustralianSuper Pty Ltd now owns 205,168 shares of the medical instruments supplier’s stock valued at $64,460,000 after purchasing an additional 170,247 shares during the last quarter.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the company. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Insulet in a research report on Wednesday, October 8th. Wells Fargo & Company boosted their price target on Insulet from $350.00 to $360.00 and gave the stock an “overweight” rating in a research note on Friday, November 7th. Sanford C. Bernstein reaffirmed an “outperform” rating on shares of Insulet in a research report on Friday, November 21st. Zacks Research raised shares of Insulet from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, October 14th. Finally, Canaccord Genuity Group raised their price target on shares of Insulet from $432.00 to $450.00 and gave the stock a “buy” rating in a report on Wednesday. One analyst has rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $380.05.

Insulet Price Performance

Shares of NASDAQ PODD opened at $289.57 on Thursday. Insulet Corporation has a 52 week low of $230.05 and a 52 week high of $354.88. The business’s 50 day moving average price is $317.47 and its 200 day moving average price is $314.16. The company has a quick ratio of 2.18, a current ratio of 2.87 and a debt-to-equity ratio of 0.68. The firm has a market cap of $20.37 billion, a P/E ratio of 83.93, a P/E/G ratio of 2.03 and a beta of 1.37.

Insulet (NASDAQ:PODD) last announced its quarterly earnings data on Thursday, November 6th. The medical instruments supplier reported $1.24 EPS for the quarter, beating the consensus estimate of $1.13 by $0.11. The business had revenue of $521.70 million during the quarter, compared to analysts’ expectations of $678.70 million. Insulet had a net margin of 9.76% and a return on equity of 24.36%. The business’s quarterly revenue was up 29.9% compared to the same quarter last year. During the same period in the previous year, the business posted $1.08 EPS. On average, sell-side analysts expect that Insulet Corporation will post 3.92 earnings per share for the current year.

Insulet Profile

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.