Beacon Investment Advisory Services Inc. Sells 7,290 Shares of Insulet Corporation $PODD

Beacon Investment Advisory Services Inc. cut its holdings in Insulet Corporation (NASDAQ:PODD) by 8.2% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 81,340 shares of the medical instruments supplier’s stock after selling 7,290 shares during the period. Beacon Investment Advisory Services Inc.’s holdings in Insulet were worth $25,112,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Golden State Wealth Management LLC grew its holdings in Insulet by 202.9% during the 2nd quarter. Golden State Wealth Management LLC now owns 103 shares of the medical instruments supplier’s stock valued at $32,000 after buying an additional 69 shares in the last quarter. Kozak & Associates Inc. purchased a new position in shares of Insulet during the 2nd quarter valued at $32,000. Trust Co. of Toledo NA OH bought a new stake in shares of Insulet during the 2nd quarter valued at about $35,000. Osterweis Capital Management Inc. purchased a new position in shares of Insulet during the second quarter worth about $51,000. Finally, Generali Investments Management Co LLC bought a new position in shares of Insulet in the second quarter worth approximately $55,000.

Analysts Set New Price Targets

Several brokerages have issued reports on PODD. Jefferies Financial Group lifted their target price on shares of Insulet from $375.00 to $400.00 and gave the company a “buy” rating in a research report on Thursday, November 6th. Piper Sandler boosted their target price on Insulet from $320.00 to $360.00 and gave the stock an “overweight” rating in a research report on Tuesday, September 16th. Sanford C. Bernstein reiterated an “outperform” rating on shares of Insulet in a research report on Friday, November 21st. JPMorgan Chase & Co. boosted their price target on shares of Insulet from $340.00 to $415.00 and gave the stock an “overweight” rating in a research note on Friday, September 12th. Finally, Truist Financial cut their price target on shares of Insulet from $412.00 to $390.00 and set a “buy” rating for the company in a research report on Thursday, December 18th. One investment analyst has rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $379.00.

Insulet Stock Down 0.1%

Shares of NASDAQ:PODD opened at $288.63 on Friday. The stock has a 50 day moving average price of $313.67 and a 200-day moving average price of $312.84. The firm has a market capitalization of $20.31 billion, a P/E ratio of 83.66, a P/E/G ratio of 2.03 and a beta of 1.37. The company has a debt-to-equity ratio of 0.68, a quick ratio of 2.18 and a current ratio of 2.87. Insulet Corporation has a 52-week low of $230.05 and a 52-week high of $354.88.

Insulet (NASDAQ:PODD) last issued its quarterly earnings results on Thursday, November 6th. The medical instruments supplier reported $1.24 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.13 by $0.11. Insulet had a net margin of 9.76% and a return on equity of 24.36%. The company had revenue of $521.70 million during the quarter, compared to analysts’ expectations of $678.70 million. During the same period last year, the company posted $1.08 EPS. Insulet’s revenue was up 29.9% on a year-over-year basis. As a group, equities research analysts anticipate 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.