Candriam S.C.A. Sells 143,684 Shares of Insulet Corporation $PODD

Candriam S.C.A. cut its holdings in shares of Insulet Corporation (NASDAQ:PODD) by 95.1% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 7,416 shares of the medical instruments supplier’s stock after selling 143,684 shares during the quarter. Candriam S.C.A.’s holdings in Insulet were worth $971,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in the business. BlackRock Inc. bought a new position in shares of Insulet during the second quarter worth $1,018,582,000. Arrowstreet Capital Limited Partnership boosted its holdings in shares of Insulet by 462.7% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 1,229,928 shares of the medical instruments supplier’s stock valued at $258,088,000 after purchasing an additional 1,011,369 shares during the last quarter. Man Group plc bought a new position in shares of Insulet during the 2nd quarter valued at about $78,746,000. Bank of America Corp DE purchased a new position in shares of Insulet during the second quarter valued at about $64,921,000. Finally, Bank of New York Mellon Corp purchased a new position in shares of Insulet during the second quarter valued at about $60,615,000.

Insulet Trading Up 1.3%

Shares of PODD stock opened at $150.03 on Thursday. The company has a market cap of $10.41 billion, a PE ratio of 24.43, a price-to-earnings-growth ratio of 1.13 and a beta of 1.06. Insulet Corporation has a 1 year low of $126.40 and a 1 year high of $354.88. The stock’s 50 day simple moving average is $142.08 and its two-hundred day simple moving average is $174.71. The company has a debt-to-equity ratio of 0.60, a current ratio of 2.51 and a quick ratio of 1.83.

Insulet (NASDAQ:PODD) last announced its earnings results on Wednesday, November 4th. The medical instruments supplier reported $1.99 EPS for the quarter, topping analysts’ consensus estimates of $1.59 by $0.40. Insulet had a return on equity of 31.76% and a net margin of 13.44%. The firm had revenue of $842.00 million during the quarter, compared to analysts’ expectations of $832.63 million. During the same quarter in the previous year, the business earned $1.24 EPS. The company’s quarterly revenue was up 19.2% on a year-over-year basis. Research analysts predict that Insulet Corporation will post 6.75 earnings per share for the current year.

Wall Street Analyst Weigh In

PODD has been the topic of several research reports. Stifel Nicolaus reduced their target price on Insulet from $225.00 to $180.00 and set a “buy” rating on the stock in a report on Thursday, August 6th. BTIG Research lowered Insulet from a “buy” rating to a “neutral” rating in a research note on Thursday, August 6th. Sanford C. Bernstein raised their price target on Insulet from $175.00 to $200.00 and gave the company an “outperform” rating in a report on Thursday, November 5th. Jefferies Financial Group reaffirmed a “buy” rating and issued a $200.00 price objective on shares of Insulet in a research note on Wednesday, November 4th. Finally, TD Cowen reaffirmed a “hold” rating on shares of Insulet in a report on Wednesday, November 4th. Twelve investment analysts have rated the stock with a Buy rating, twelve have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $185.67.

Insulet Company Profile

Insulet Corporation is a medical device company focused on insulin delivery for people with diabetes. Founded in 2000, the company developed the Omnipod platform, which delivers insulin through a small, wearable pod without the tubing used by many traditional insulin pumps. Its products include Omnipod DASH and Omnipod 5, an automated insulin delivery system that can adjust insulin delivery based on glucose readings from compatible continuous glucose monitors. Insulet also provides related controllers, mobile app features, supplies and customer support.