Osterweis Capital Management Inc. Acquires 26,605 Shares of Insulet Co. (PODD)
Osterweis Capital Management Inc. raised its holdings in Insulet Co. (NASDAQ:PODD) by 33.9% in the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 105,075 shares of the medical instruments supplier’s stock after acquiring an additional 26,605 shares during the quarter. Osterweis Capital Management Inc. owned approximately 0.18% of Insulet worth $11,133,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also made changes to their positions in the business. FMR LLC increased its position in shares of Insulet by 0.4% during the third quarter. FMR LLC now owns 8,778,854 shares of the medical instruments supplier’s stock worth $930,119,000 after buying an additional 37,973 shares during the period. William Blair Investment Management LLC increased its position in shares of Insulet by 57.4% during the third quarter. William Blair Investment Management LLC now owns 1,871,961 shares of the medical instruments supplier’s stock worth $198,334,000 after buying an additional 682,393 shares during the period. OppenheimerFunds Inc. increased its position in shares of Insulet by 26.6% during the second quarter. OppenheimerFunds Inc. now owns 791,702 shares of the medical instruments supplier’s stock worth $67,848,000 after buying an additional 166,585 shares during the period. American Century Companies Inc. increased its position in shares of Insulet by 737.9% during the third quarter. American Century Companies Inc. now owns 700,892 shares of the medical instruments supplier’s stock worth $74,260,000 after buying an additional 617,241 shares during the period. Finally, Eagle Asset Management Inc. increased its position in shares of Insulet by 6.6% during the third quarter. Eagle Asset Management Inc. now owns 571,112 shares of the medical instruments supplier’s stock worth $60,509,000 after buying an additional 35,538 shares during the period.
In related news, SVP David Colleran sold 6,113 shares of the firm’s stock in a transaction dated Wednesday, November 14th. The shares were sold at an average price of $80.41, for a total transaction of $491,546.33. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Shacey Petrovic sold 1,134 shares of the firm’s stock in a transaction dated Thursday, November 1st. The stock was sold at an average price of $86.91, for a total transaction of $98,555.94. The disclosure for this sale can be found here. Insiders sold 9,053 shares of company stock worth $756,844 over the last ninety days. Insiders own 3.60% of the company’s stock.
Insulet (NASDAQ:PODD) last released its quarterly earnings data on Thursday, November 1st. The medical instruments supplier reported $0.03 earnings per share for the quarter, beating analysts’ consensus estimates of $0.02 by $0.01. Insulet had a negative net margin of 2.54% and a negative return on equity of 7.63%. The firm had revenue of $151.10 million for the quarter, compared to analyst estimates of $148.82 million. During the same period last year, the firm earned ($0.04) earnings per share. The business’s quarterly revenue was up 24.1% compared to the same quarter last year. Equities research analysts predict that Insulet Co. will post -0.05 earnings per share for the current fiscal year.
Several research firms have recently weighed in on PODD. BidaskClub cut shares of Insulet from a “hold” rating to a “sell” rating in a research report on Friday, October 12th. Zacks Investment Research lowered shares of Insulet from a “buy” rating to a “hold” rating in a research note on Thursday, October 4th. Oppenheimer set a $100.00 target price on shares of Insulet and gave the stock a “hold” rating in a research note on Friday, November 2nd. Morgan Stanley increased their target price on shares of Insulet from $96.00 to $105.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 11th. Finally, UBS Group assumed coverage on shares of Insulet in a research note on Tuesday, November 27th. They set a “buy” rating and a $105.00 target price on the stock. One analyst has rated the stock with a sell rating, four have issued a hold rating, eleven have given a buy rating and two have given a strong buy rating to the stock. The company currently has an average rating of “Buy” and a consensus target price of $101.44.
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Insulet Company Profile
Insulet Corporation develops, manufactures, and sells insulin delivery systems for people with insulin-dependent diabetes in the United States and internationally. The company offers Omnipod Insulin Management System (Omnipod System), which consists of an easy-to-use continuous insulin delivery system; and Personal Diabetes Manager, a handheld wireless device.
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