Insulet Target of Unusually High Options Trading (PODD)
Insulet Co. (NASDAQ:PODD) saw some unusual options trading activity on Thursday. Investors bought 2,927 call options on the stock. This represents an increase of approximately 1,294% compared to the typical volume of 210 call options.
In related news, EVP Aiman Abdel-Malek sold 1,608 shares of the firm’s stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $95.22, for a total transaction of $153,113.76. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Michael L. Levitz sold 1,350 shares of the firm’s stock in a transaction dated Wednesday, February 27th. The stock was sold at an average price of $92.01, for a total transaction of $124,213.50. The disclosure for this sale can be found here. In the last quarter, insiders sold 92,956 shares of company stock valued at $8,933,406. 3.50% of the stock is currently owned by corporate insiders.
Several institutional investors and hedge funds have recently bought and sold shares of PODD. Cresset Asset Management LLC purchased a new position in shares of Insulet in the first quarter worth about $30,000. Manchester Capital Management LLC purchased a new position in shares of Insulet in the first quarter worth about $31,000. PRW Wealth Management LLC purchased a new position in shares of Insulet in the fourth quarter worth about $40,000. Tyers Asset Management LLC purchased a new position in shares of Insulet in the first quarter worth about $49,000. Finally, Quadrant Capital Group LLC increased its stake in shares of Insulet by 1,037.7% in the first quarter. Quadrant Capital Group LLC now owns 603 shares of the medical instruments supplier’s stock worth $55,000 after purchasing an additional 550 shares in the last quarter.
Insulet (NASDAQ:PODD) last posted its earnings results on Thursday, May 2nd. The medical instruments supplier reported $0.07 earnings per share for the quarter, topping the consensus estimate of $0.02 by $0.05. The firm had revenue of $159.56 million during the quarter, compared to the consensus estimate of $154.66 million. Insulet had a net margin of 2.37% and a return on equity of 7.01%. The company’s revenue was up 29.1% on a year-over-year basis. During the same quarter last year, the company earned ($0.11) earnings per share. On average, equities research analysts anticipate that Insulet will post 0.26 EPS for the current year.
A number of analysts recently issued reports on the stock. BidaskClub upgraded shares of Insulet from a “hold” rating to a “buy” rating in a report on Thursday, May 9th. Canaccord Genuity restated a “buy” rating and set a $110.00 price objective (up previously from $100.00) on shares of Insulet in a report on Monday, May 6th. BTIG Research upgraded shares of Insulet from a “neutral” rating to a “buy” rating and set a $115.00 price objective for the company in a report on Monday, May 6th. Oppenheimer set a $100.00 price objective on shares of Insulet and gave the stock a “hold” rating in a report on Tuesday, February 26th. Finally, Northland Securities restated a “buy” rating and set a $100.00 price objective on shares of Insulet in a report on Tuesday, February 26th. Three equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company. The company has a consensus rating of “Buy” and an average target price of $105.18.
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Insulet Company Profile
Insulet Corporation develops, manufactures, and sells insulin delivery systems for people with insulin-dependent diabetes. The company offers Omnipod System, which consists of self-adhesive disposable tubeless Omnipod device (the pod) that delivers insulin into the body; and Personal Diabetes Manager, a handheld wireless device, which programs the Pod.
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