Eastern Bank Has $12.69 Million Stake in Insulet Co. (NASDAQ:PODD)

Eastern Bank boosted its holdings in shares of Insulet Co. (NASDAQ:PODDGet Rating) by 59.0% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 47,619 shares of the medical instruments supplier’s stock after buying an additional 17,676 shares during the quarter. Eastern Bank owned about 0.07% of Insulet worth $12,686,000 at the end of the most recent quarter.

A number of other institutional investors have also bought and sold shares of PODD. LPL Financial LLC increased its position in Insulet by 24.4% during the third quarter. LPL Financial LLC now owns 12,341 shares of the medical instruments supplier’s stock worth $3,508,000 after buying an additional 2,418 shares during the last quarter. UBS Asset Management Americas Inc. boosted its holdings in Insulet by 1.4% during the third quarter. UBS Asset Management Americas Inc. now owns 339,879 shares of the medical instruments supplier’s stock valued at $96,604,000 after acquiring an additional 4,775 shares during the period. Koshinski Asset Management Inc. boosted its holdings in Insulet by 266.7% during the fourth quarter. Koshinski Asset Management Inc. now owns 176 shares of the medical instruments supplier’s stock valued at $47,000 after acquiring an additional 128 shares during the period. Gateway Investment Advisers LLC boosted its holdings in Insulet by 0.6% during the fourth quarter. Gateway Investment Advisers LLC now owns 13,685 shares of the medical instruments supplier’s stock valued at $3,641,000 after acquiring an additional 81 shares during the period. Finally, Spire Wealth Management boosted its holdings in Insulet by 33.6% during the fourth quarter. Spire Wealth Management now owns 445 shares of the medical instruments supplier’s stock valued at $118,000 after acquiring an additional 112 shares during the period.

A number of equities research analysts have issued reports on the stock. Wells Fargo & Company decreased their price target on shares of Insulet from $357.00 to $345.00 in a report on Friday, May 6th. StockNews.com initiated coverage on shares of Insulet in a report on Thursday, March 31st. They set a “hold” rating for the company. Morgan Stanley reduced their target price on shares of Insulet from $268.00 to $244.00 and set an “equal weight” rating for the company in a research note on Tuesday, June 7th. Citigroup reduced their target price on shares of Insulet from $350.00 to $310.00 and set a “buy” rating for the company in a research note on Tuesday, May 17th. Finally, BTIG Research reduced their target price on shares of Insulet from $310.00 to $250.00 and set a “buy” rating for the company in a research note on Friday, June 24th. Three research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat.com, Insulet currently has an average rating of “Moderate Buy” and a consensus price target of $293.67.

PODD traded up $5.37 during midday trading on Friday, reaching $223.31. 1,888 shares of the company’s stock were exchanged, compared to its average volume of 608,656. The firm has a market capitalization of $15.48 billion, a price-to-earnings ratio of 352.67 and a beta of 0.73. The company has a quick ratio of 4.51, a current ratio of 5.98 and a debt-to-equity ratio of 3.11. Insulet Co. has a one year low of $181.00 and a one year high of $324.81. The business has a 50-day simple moving average of $216.05 and a two-hundred day simple moving average of $239.41.

Insulet (NASDAQ:PODDGet Rating) last announced its quarterly earnings results on Thursday, May 5th. The medical instruments supplier reported $0.40 EPS for the quarter, topping analysts’ consensus estimates of $0.23 by $0.17. The firm had revenue of $295.40 million during the quarter, compared to analysts’ expectations of $287.99 million. Insulet had a net margin of 3.91% and a return on equity of 15.81%. The company’s quarterly revenue was up 17.1% on a year-over-year basis. As a group, research analysts anticipate that Insulet Co. will post 1.31 EPS for the current fiscal year.

In other news, CEO Shacey Petrovic sold 15,000 shares of the firm’s stock in a transaction that occurred on Monday, April 4th. The shares were sold at an average price of $273.25, for a total transaction of $4,098,750.00. Following the completion of the sale, the chief executive officer now owns 13,607 shares of the company’s stock, valued at $3,718,112.75. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, COO Charles Alpuche sold 6,000 shares of the firm’s stock in a transaction that occurred on Monday, June 6th. The stock was sold at an average price of $215.32, for a total transaction of $1,291,920.00. Following the sale, the chief operating officer now directly owns 43,899 shares of the company’s stock, valued at approximately $9,452,332.68. The disclosure for this sale can be found here. 0.90% of the stock is owned by company insiders.

About Insulet (Get Rating)

Insulet Corporation develops, manufactures, and sells insulin delivery systems for people with insulin-dependent diabetes. It offers Omnipod System, a self-adhesive disposable tubeless Omnipod device that is worn on the body for up to three days at a time, as well as its wireless companion, the handheld personal diabetes manager.

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Institutional Ownership by Quarter for Insulet (NASDAQ:PODD)

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