SNS Financial Group LLC purchased a new position in shares of Insulet Co. (NASDAQ:PODD) during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 2,120 shares of the medical instruments supplier’s stock, valued at approximately $225,000.

Several other hedge funds have also modified their holdings of PODD. Pier 88 Investment Partners LLC acquired a new position in shares of Insulet in the 2nd quarter valued at $184,000. Harbour Capital Advisors LLC acquired a new position in shares of Insulet in the 2nd quarter valued at $269,000. LPL Financial LLC acquired a new position in shares of Insulet in the 1st quarter valued at $276,000. AMP Capital Investors Ltd acquired a new position in shares of Insulet in the 2nd quarter valued at $274,000. Finally, Raymond James Financial Services Advisors Inc. acquired a new position in shares of Insulet in the 2nd quarter valued at $275,000.

PODD has been the topic of several research reports. Zacks Investment Research raised Insulet from a “hold” rating to a “buy” rating and set a $119.00 target price on the stock in a research report on Monday, October 1st. BidaskClub raised Insulet from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, September 11th. Leerink Swann reissued an “outperform” rating and issued a $130.00 target price on shares of Insulet in a research report on Tuesday, September 11th. Finally, Jefferies Financial Group reissued a “buy” rating and issued a $97.00 target price on shares of Insulet in a research report on Friday, August 3rd. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, twelve have assigned a buy rating and two have assigned a strong buy rating to the stock. The company has an average rating of “Buy” and a consensus price target of $99.13.

In related news, SVP Michael P. Spears sold 5,043 shares of the firm’s stock in a transaction dated Tuesday, August 14th. The shares were sold at an average price of $86.08, for a total value of $434,101.44. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, EVP Aiman Abdel-Malek sold 602 shares of the firm’s stock in a transaction dated Monday, October 15th. The shares were sold at an average price of $88.58, for a total transaction of $53,325.16. The disclosure for this sale can be found here. Over the last three months, insiders have sold 7,809 shares of company stock worth $704,659. Corporate insiders own 3.60% of the company’s stock.

PODD stock opened at $88.10 on Tuesday. The company has a debt-to-equity ratio of 3.22, a quick ratio of 5.01 and a current ratio of 5.54. Insulet Co. has a 52-week low of $56.62 and a 52-week high of $108.90. The stock has a market cap of $5.20 billion, a PE ratio of -191.52 and a beta of 1.56.

Insulet (NASDAQ:PODD) last posted its earnings results on Thursday, August 2nd. The medical instruments supplier reported ($0.03) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.13) by $0.10. Insulet had a negative net margin of 3.47% and a negative return on equity of 11.91%. The business had revenue of $124.26 million for the quarter, compared to analyst estimates of $132.89 million. During the same period in the prior year, the company posted ($0.13) EPS. The company’s revenue for the quarter was up 13.2% on a year-over-year basis. Sell-side analysts forecast that Insulet Co. will post -0.09 earnings per share for the current fiscal year.

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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Institutional Ownership by Quarter for Insulet (NASDAQ:PODD)

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