7,869 Shares in Insulet Co. (NASDAQ:PODD) Bought by Patton Fund Management Inc.

Patton Fund Management Inc. acquired a new stake in Insulet Co. (NASDAQ:PODD) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 7,869 shares of the medical instruments supplier’s stock, valued at approximately $2,269,000.

A number of other large investors have also modified their holdings of PODD. Czech National Bank increased its stake in shares of Insulet by 0.8% in the 2nd quarter. Czech National Bank now owns 8,250 shares of the medical instruments supplier’s stock valued at $2,379,000 after purchasing an additional 68 shares in the last quarter. SG Americas Securities LLC grew its holdings in Insulet by 62.1% in the second quarter. SG Americas Securities LLC now owns 27,502 shares of the medical instruments supplier’s stock valued at $7,930,000 after purchasing an additional 10,540 shares during the period. Moody National Bank Trust Division increased its position in shares of Insulet by 1.8% in the second quarter. Moody National Bank Trust Division now owns 3,544 shares of the medical instruments supplier’s stock valued at $1,022,000 after buying an additional 64 shares in the last quarter. Nordea Investment Management AB raised its stake in shares of Insulet by 2.8% during the 2nd quarter. Nordea Investment Management AB now owns 5,088 shares of the medical instruments supplier’s stock worth $1,456,000 after buying an additional 137 shares during the period. Finally, First Hawaiian Bank lifted its position in shares of Insulet by 2.1% during the 2nd quarter. First Hawaiian Bank now owns 2,679 shares of the medical instruments supplier’s stock valued at $772,000 after buying an additional 54 shares in the last quarter.

Insulet Trading Down 1.1 %

Shares of PODD traded down $1.85 during midday trading on Tuesday, reaching $169.13. The company had a trading volume of 118,201 shares, compared to its average volume of 808,499. The firm has a 50 day simple moving average of $228.89 and a 200-day simple moving average of $276.46. The company has a quick ratio of 2.38, a current ratio of 3.34 and a debt-to-equity ratio of 2.47. The stock has a market cap of $11.81 billion, a PE ratio of 192.11, a price-to-earnings-growth ratio of 2.90 and a beta of 0.81. Insulet Co. has a 1-year low of $166.03 and a 1-year high of $335.91.

Insulet (NASDAQ:PODD) last released its quarterly earnings data on Tuesday, August 8th. The medical instruments supplier reported $0.38 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.24 by $0.14. The firm had revenue of $396.50 million during the quarter, compared to analysts’ expectations of $383.97 million. Insulet had a net margin of 4.29% and a return on equity of 22.42%. Research analysts forecast that Insulet Co. will post 1.64 EPS for the current fiscal year.

Insider Activity

In related news, CFO Wayde D. Mcmillan sold 1,388 shares of the stock in a transaction that occurred on Monday, July 3rd. The stock was sold at an average price of $282.94, for a total value of $392,720.72. Following the completion of the transaction, the chief financial officer now directly owns 21,477 shares in the company, valued at $6,076,702.38. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CFO Wayde D. Mcmillan sold 1,388 shares of the company’s stock in a transaction on Monday, July 3rd. The stock was sold at an average price of $282.94, for a total value of $392,720.72. Following the transaction, the chief financial officer now owns 21,477 shares of the company’s stock, valued at approximately $6,076,702.38. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO James Hollingshead acquired 5,550 shares of the business’s stock in a transaction that occurred on Monday, August 28th. The shares were acquired at an average cost of $181.41 per share, with a total value of $1,006,825.50. Following the completion of the transaction, the chief executive officer now directly owns 34,177 shares in the company, valued at approximately $6,200,049.57. The disclosure for this purchase can be found here. Corporate insiders own 0.80% of the company’s stock.

Analyst Ratings Changes

PODD has been the subject of several recent analyst reports. Raymond James cut their price target on shares of Insulet from $299.00 to $228.00 and set an “outperform” rating for the company in a report on Friday. Morgan Stanley decreased their price target on shares of Insulet from $343.00 to $208.00 and set an “equal weight” rating on the stock in a research note on Thursday, August 24th. Robert W. Baird lowered Insulet from an “outperform” rating to a “neutral” rating and cut their price objective for the stock from $320.00 to $219.00 in a research note on Monday, August 21st. StockNews.com assumed coverage on Insulet in a report on Thursday, August 17th. They set a “hold” rating for the company. Finally, Citigroup raised Insulet from a “neutral” rating to a “buy” rating and lowered their price target for the stock from $273.00 to $265.00 in a research note on Monday, August 21st. Eight research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $281.93.

Insulet Profile

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.