Quantbot Technologies LP Cuts Position in Insulet Corporation $PODD

Quantbot Technologies LP reduced its position in shares of Insulet Corporation (NASDAQ:PODD) by 31.5% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 26,581 shares of the medical instruments supplier’s stock after selling 12,231 shares during the period. Quantbot Technologies LP’s holdings in Insulet were worth $8,206,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also modified their holdings of PODD. Sage Mountain Advisors LLC grew its position in Insulet by 4.6% in the 3rd quarter. Sage Mountain Advisors LLC now owns 743 shares of the medical instruments supplier’s stock valued at $229,000 after acquiring an additional 33 shares in the last quarter. Curi Capital LLC grew its holdings in shares of Insulet by 0.8% in the second quarter. Curi Capital LLC now owns 4,346 shares of the medical instruments supplier’s stock valued at $1,365,000 after purchasing an additional 36 shares in the last quarter. Evelyn Partners Investment Management Services Ltd grew its holdings in shares of Insulet by 28.7% in the second quarter. Evelyn Partners Investment Management Services Ltd now owns 175 shares of the medical instruments supplier’s stock valued at $55,000 after purchasing an additional 39 shares in the last quarter. PDS Planning Inc increased its stake in Insulet by 5.1% during the 3rd quarter. PDS Planning Inc now owns 821 shares of the medical instruments supplier’s stock worth $253,000 after buying an additional 40 shares during the period. Finally, Camarda Financial Advisors LLC lifted its holdings in Insulet by 0.5% during the 2nd quarter. Camarda Financial Advisors LLC now owns 7,332 shares of the medical instruments supplier’s stock worth $2,304,000 after buying an additional 40 shares in the last quarter.

Insulet Stock Down 1.9%

Shares of NASDAQ:PODD opened at $246.61 on Friday. The firm has a 50 day simple moving average of $268.21 and a 200-day simple moving average of $303.18. Insulet Corporation has a twelve month low of $230.05 and a twelve month high of $354.88. The company has a current ratio of 2.81, a quick ratio of 2.15 and a debt-to-equity ratio of 0.61. The company has a market capitalization of $17.36 billion, a PE ratio of 70.46, a P/E/G ratio of 1.50 and a beta of 1.41.

Insulet (NASDAQ:PODD) last announced its quarterly earnings results on Wednesday, February 18th. The medical instruments supplier reported $1.55 earnings per share for the quarter, beating analysts’ consensus estimates of $1.48 by $0.07. Insulet had a net margin of 9.12% and a return on equity of 24.90%. The firm had revenue of $783.80 million during the quarter, compared to analysts’ expectations of $768.31 million. During the same period in the previous year, the company earned $1.15 earnings per share. Insulet’s quarterly revenue was up 31.2% compared to the same quarter last year. On average, equities analysts predict that Insulet Corporation will post 3.92 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director Michael R. Minogue acquired 2,030 shares of the stock in a transaction that occurred on Wednesday, February 25th. The shares were purchased at an average cost of $246.23 per share, for a total transaction of $499,846.90. Following the transaction, the director directly owned 17,483 shares in the company, valued at approximately $4,304,839.09. This represents a 13.14% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.39% of the company’s stock.

Analyst Ratings Changes

Several research firms have commented on PODD. Jefferies Financial Group boosted their price target on shares of Insulet from $375.00 to $400.00 and gave the stock a “buy” rating in a research note on Thursday, November 6th. Wolfe Research increased their price target on Insulet from $350.00 to $375.00 and gave the company an “outperform” rating in a research report on Friday, November 7th. Wells Fargo & Company boosted their price objective on Insulet from $350.00 to $360.00 and gave the stock an “overweight” rating in a research report on Friday, November 7th. Oppenheimer cut their target price on shares of Insulet from $365.00 to $300.00 and set an “outperform” rating on the stock in a research note on Thursday, February 19th. Finally, Citigroup decreased their price target on shares of Insulet from $380.00 to $345.00 and set a “buy” rating for the company in a research note on Thursday, February 19th. Twenty equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $354.57.

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.