Insulet Co. (NASDAQ:PODD) Shares Sold by Eastern Bank

Eastern Bank trimmed its holdings in Insulet Co. (NASDAQ:PODD) by 26.2% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 4,510 shares of the medical instruments supplier’s stock after selling 1,603 shares during the period. Eastern Bank’s holdings in Insulet were worth $1,050,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Blue Trust Inc. raised its holdings in Insulet by 84.1% in the third quarter. Blue Trust Inc. now owns 127 shares of the medical instruments supplier’s stock valued at $30,000 after acquiring an additional 58 shares in the last quarter. International Assets Investment Management LLC bought a new position in shares of Insulet during the second quarter worth about $32,000. Sunbelt Securities Inc. acquired a new position in Insulet in the first quarter worth about $29,000. UMB Bank n.a. increased its holdings in Insulet by 81.0% in the second quarter. UMB Bank n.a. now owns 181 shares of the medical instruments supplier’s stock valued at $37,000 after buying an additional 81 shares during the last quarter. Finally, CVA Family Office LLC lifted its holdings in Insulet by 138.1% during the 2nd quarter. CVA Family Office LLC now owns 250 shares of the medical instruments supplier’s stock worth $50,000 after buying an additional 145 shares during the last quarter.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the company. Canaccord Genuity Group boosted their price target on Insulet from $236.00 to $269.00 and gave the company a “buy” rating in a report on Wednesday, September 25th. Raymond James raised their price target on shares of Insulet from $213.00 to $260.00 and gave the stock an “outperform” rating in a research report on Monday, October 14th. Citigroup boosted their price objective on shares of Insulet from $250.00 to $275.00 and gave the company a “buy” rating in a research report on Tuesday, October 1st. BTIG Research raised their target price on shares of Insulet from $250.00 to $260.00 and gave the stock a “buy” rating in a report on Monday, October 14th. Finally, Barclays upped their target price on Insulet from $200.00 to $220.00 and gave the company an “equal weight” rating in a report on Monday, August 12th. Three research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $242.29.

Insulet Stock Performance

Shares of PODD opened at $236.60 on Wednesday. Insulet Co. has a 52-week low of $128.68 and a 52-week high of $243.98. The firm has a market capitalization of $16.59 billion, a PE ratio of 43.02, a P/E/G ratio of 4.42 and a beta of 1.21. The firm has a 50-day moving average price of $219.16 and a 200 day moving average price of $197.79. The company has a quick ratio of 2.71, a current ratio of 3.60 and a debt-to-equity ratio of 1.36.

Insulet (NASDAQ:PODD) last announced its quarterly earnings data on Thursday, August 8th. The medical instruments supplier reported $0.55 earnings per share for the quarter, missing the consensus estimate of $0.56 by ($0.01). Insulet had a net margin of 21.11% and a return on equity of 30.73%. The firm had revenue of $488.50 million during the quarter, compared to analyst estimates of $488.00 million. During the same quarter last year, the company earned $0.38 EPS. The company’s quarterly revenue was up 23.2% compared to the same quarter last year. On average, sell-side analysts anticipate that Insulet Co. will post 3.04 earnings per share for the current fiscal year.

About Insulet

Insulet Corporation develops, manufactures, and sells insulin delivery systems for people with insulin-dependent diabetes. The company's Omnipod platform includes the Omnipod 5 Automated Insulin Delivery System (Omnipod 5) which includes a proprietary AID algorithm embedded in the Pod that integrates with a third-party continuous glucose monitor to obtain glucose values through wireless bluetooth communication; Omnipod DASH that features a bluetooth enabled Pod that is controlled by a smartphone-like Personal Diabetes Manager with a color touch screen user interface; and Omnipod GO, a standalone, wearable, insulin delivery system that provides a fixed rate of continuous rapid-acting insulin for 72 hours.