Price T Rowe Associates Inc. MD lowered its position in Insulet Co. (NASDAQ:PODD – Free Report) by 21.5% in the first quarter, Holdings Channel.com reports. The institutional investor owned 435,924 shares of the medical instruments supplier’s stock after selling 119,193 shares during the period. Price T Rowe Associates Inc. MD’s holdings in Insulet were worth $74,718,000 as of its most recent filing with the Securities and Exchange Commission.
Other large investors have also modified their holdings of the company. Sunbelt Securities Inc. acquired a new position in shares of Insulet in the 1st quarter valued at $29,000. Benjamin F. Edwards & Company Inc. purchased a new position in Insulet during the 4th quarter worth $34,000. Jones Financial Companies Lllp purchased a new position in Insulet during the 4th quarter worth $40,000. Lindbrook Capital LLC increased its stake in Insulet by 64.1% in the fourth quarter. Lindbrook Capital LLC now owns 192 shares of the medical instruments supplier’s stock valued at $42,000 after purchasing an additional 75 shares during the period. Finally, Turtle Creek Wealth Advisors LLC purchased a new stake in shares of Insulet in the fourth quarter valued at about $43,000.
Insulet Stock Down 0.8 %
PODD stock opened at $191.83 on Tuesday. The company has a current ratio of 3.74, a quick ratio of 2.75 and a debt-to-equity ratio of 1.72. The company’s 50-day moving average price is $193.40 and its 200 day moving average price is $184.34. Insulet Co. has a 52 week low of $125.82 and a 52 week high of $281.83. The company has a market cap of $13.44 billion, a P/E ratio of 58.13, a P/E/G ratio of 3.47 and a beta of 1.16.
Insider Buying and Selling
In other Insulet news, Director Timothy J. Scannell sold 7,000 shares of the company’s stock in a transaction on Monday, June 10th. The stock was sold at an average price of $190.51, for a total value of $1,333,570.00. Following the sale, the director now owns 35,586 shares of the company’s stock, valued at $6,779,488.86. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Director Timothy J. Scannell sold 7,000 shares of the business’s stock in a transaction dated Monday, June 10th. The shares were sold at an average price of $190.51, for a total value of $1,333,570.00. Following the sale, the director now directly owns 35,586 shares in the company, valued at approximately $6,779,488.86. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Timothy J. Scannell sold 3,300 shares of the stock in a transaction dated Tuesday, May 28th. The shares were sold at an average price of $180.90, for a total transaction of $596,970.00. Following the completion of the sale, the director now directly owns 42,586 shares in the company, valued at $7,703,807.40. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 13,931 shares of company stock valued at $2,636,286. 0.47% of the stock is owned by insiders.
Wall Street Analysts Forecast Growth
A number of equities analysts recently issued reports on the company. Wolfe Research raised Insulet from a “peer perform” rating to an “outperform” rating and set a $200.00 price target on the stock in a report on Tuesday, May 7th. Raymond James lowered their target price on Insulet from $218.00 to $213.00 and set an “outperform” rating on the stock in a research note on Friday, May 10th. Canaccord Genuity Group restated a “buy” rating and set a $234.00 price target on shares of Insulet in a research note on Tuesday, July 23rd. Barclays lowered their price objective on shares of Insulet from $213.00 to $200.00 and set an “equal weight” rating on the stock in a research report on Monday, May 13th. Finally, Jefferies Financial Group upped their price objective on shares of Insulet from $255.00 to $260.00 and gave the stock a “buy” rating in a research report on Friday, May 10th. Four equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $239.18.
Read Our Latest Stock Report on Insulet
Insulet Profile
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.
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