TIAA CREF Investment Management LLC lowered its stake in shares of Insulet Corporation (NASDAQ:PODD) by 8.1% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 156,035 shares of the medical instruments supplier’s stock after selling 13,790 shares during the period. TIAA CREF Investment Management LLC owned about 0.27% of Insulet Corporation worth $6,724,000 at the end of the most recent reporting period.
Several other large investors have also recently added to or reduced their stakes in the stock. Strs Ohio increased its stake in Insulet Corporation by 73.9% in the first quarter. Strs Ohio now owns 4,000 shares of the medical instruments supplier’s stock valued at $172,000 after buying an additional 1,700 shares in the last quarter. Ameritas Investment Partners Inc. bought a new position in shares of Insulet Corporation during the first quarter valued at about $215,000. Guggenheim Capital LLC bought a new position in shares of Insulet Corporation during the fourth quarter valued at about $266,000. Parametrica Management Ltd bought a new position in shares of Insulet Corporation during the first quarter valued at about $350,000. Finally, Principal Financial Group Inc. boosted its position in shares of Insulet Corporation by 1.1% in the first quarter. Principal Financial Group Inc. now owns 8,171 shares of the medical instruments supplier’s stock valued at $352,000 after buying an additional 92 shares during the last quarter.
Shares of Insulet Corporation (PODD) traded up 1.54% during trading on Tuesday, reaching $54.71. The company’s stock had a trading volume of 520,189 shares. The company’s market cap is $3.17 billion. The company has a 50 day moving average of $50.48 and a 200 day moving average of $44.77. Insulet Corporation has a 12-month low of $30.69 and a 12-month high of $55.46.
Insulet Corporation (NASDAQ:PODD) last released its quarterly earnings data on Thursday, August 3rd. The medical instruments supplier reported ($0.13) earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of ($0.13). The business had revenue of $110 million during the quarter, compared to analysts’ expectations of $106.23 million. Insulet Corporation had a negative net margin of 7.30% and a negative return on equity of 46.88%. The company’s revenue for the quarter was up 26.0% on a year-over-year basis. During the same period in the previous year, the company earned ($0.08) EPS. On average, analysts anticipate that Insulet Corporation will post ($0.51) EPS for the current fiscal year.
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Several research analysts recently issued reports on the company. B. Riley reaffirmed a “neutral” rating and set a $44.00 target price on shares of Insulet Corporation in a research report on Tuesday, May 9th. Oppenheimer Holdings, Inc. set a $55.00 target price on Insulet Corporation and gave the company a “hold” rating in a research report on Friday. Northland Securities reissued a “buy” rating on shares of Insulet Corporation in a research report on Friday. Cowen and Company reissued an “outperform” rating and issued a $63.00 price objective (up previously from $52.00) on shares of Insulet Corporation in a research report on Friday. Finally, BidaskClub cut Insulet Corporation from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, August 1st. Eight research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target of $49.69.
In other news, EVP Bradley A. Thomas acquired 3,000 shares of the firm’s stock in a transaction dated Thursday, May 11th. The stock was acquired at an average cost of $38.69 per share, with a total value of $116,070.00. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Jessica Hopfield acquired 2,580 shares of the firm’s stock in a transaction dated Thursday, May 11th. The shares were purchased at an average cost of $38.68 per share, with a total value of $99,794.40. The disclosure for this purchase can be found here. Over the last ninety days, insiders have bought 8,080 shares of company stock valued at $317,339. Corporate insiders own 2.60% of the company’s stock.
About Insulet Corporation
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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