Avanza Fonder AB Purchases New Position in Insulet Co. (NASDAQ:PODD)

Avanza Fonder AB acquired a new position in Insulet Co. (NASDAQ:PODD) in the 4th quarter, HoldingsChannel.com reports. The fund acquired 6,742 shares of the medical instruments supplier’s stock, valued at approximately $1,760,000.

Other hedge funds have also bought and sold shares of the company. Blue Trust Inc. boosted its holdings in shares of Insulet by 84.1% in the third quarter. Blue Trust Inc. now owns 127 shares of the medical instruments supplier’s stock worth $30,000 after acquiring an additional 58 shares during the period. Venturi Wealth Management LLC lifted its holdings in Insulet by 633.3% during the 3rd quarter. Venturi Wealth Management LLC now owns 154 shares of the medical instruments supplier’s stock worth $36,000 after purchasing an additional 133 shares in the last quarter. TD Private Client Wealth LLC boosted its stake in Insulet by 32.6% in the 3rd quarter. TD Private Client Wealth LLC now owns 228 shares of the medical instruments supplier’s stock worth $53,000 after purchasing an additional 56 shares during the period. Friedenthal Financial purchased a new position in Insulet during the 4th quarter valued at about $57,000. Finally, Versant Capital Management Inc increased its position in shares of Insulet by 106.1% during the fourth quarter. Versant Capital Management Inc now owns 305 shares of the medical instruments supplier’s stock valued at $80,000 after buying an additional 157 shares during the period.

Insider Activity at Insulet

In related news, CAO Lauren Budden sold 915 shares of the company’s stock in a transaction on Tuesday, December 10th. The shares were sold at an average price of $275.62, for a total transaction of $252,192.30. Following the completion of the sale, the chief accounting officer now directly owns 5,733 shares in the company, valued at $1,580,129.46. This represents a 13.76 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. 0.47% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the stock. Raymond James boosted their price objective on shares of Insulet from $213.00 to $260.00 and gave the company an “outperform” rating in a research note on Monday, October 14th. BTIG Research upped their price target on shares of Insulet from $260.00 to $270.00 and gave the stock a “buy” rating in a report on Friday, November 8th. Citigroup boosted their target price on Insulet from $283.00 to $310.00 and gave the stock a “buy” rating in a research report on Wednesday, December 11th. TD Cowen raised their price target on Insulet from $264.00 to $324.00 and gave the company a “buy” rating in a report on Friday, January 3rd. Finally, Canaccord Genuity Group boosted their price objective on Insulet from $269.00 to $304.00 and gave the stock a “buy” rating in a report on Monday, December 9th. Three equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $272.81.

Insulet Stock Up 1.1 %

Shares of NASDAQ:PODD opened at $275.81 on Friday. The stock has a market capitalization of $19.35 billion, a P/E ratio of 47.23, a price-to-earnings-growth ratio of 3.41 and a beta of 1.22. The stock’s 50-day moving average price is $266.30 and its 200-day moving average price is $232.70. The company has a current ratio of 3.68, a quick ratio of 2.80 and a debt-to-equity ratio of 1.21. Insulet Co. has a 12-month low of $160.19 and a 12-month high of $279.77.

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.