State of Alaska Department of Revenue Has $2.09 Million Holdings in Insulet Co. (NASDAQ:PODD)

State of Alaska Department of Revenue lessened its stake in shares of Insulet Co. (NASDAQ:PODD) by 1.5% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 8,002 shares of the medical instruments supplier’s stock after selling 120 shares during the period. State of Alaska Department of Revenue’s holdings in Insulet were worth $2,089,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Blue Trust Inc. raised its holdings in Insulet by 84.1% during the 3rd quarter. Blue Trust Inc. now owns 127 shares of the medical instruments supplier’s stock worth $30,000 after buying an additional 58 shares during the period. Venturi Wealth Management LLC raised 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 buying an additional 133 shares during the period. Friedenthal Financial acquired a new stake in Insulet during the 4th quarter worth about $57,000. TD Private Client Wealth LLC raised its holdings in Insulet by 32.6% during the 3rd quarter. TD Private Client Wealth LLC now owns 228 shares of the medical instruments supplier’s stock worth $53,000 after buying an additional 56 shares during the period. Finally, Versant Capital Management Inc raised its holdings in Insulet by 106.1% during the 4th quarter. Versant Capital Management Inc now owns 305 shares of the medical instruments supplier’s stock worth $80,000 after buying an additional 157 shares during the period.

Insiders Place Their Bets

In other news, CAO Lauren Budden sold 915 shares of the stock in a transaction that occurred on Tuesday, December 10th. The stock was sold at an average price of $275.62, for a total value of $252,192.30. Following the completion of the sale, the chief accounting officer now directly owns 5,733 shares of the company’s stock, valued at approximately $1,580,129.46. This represents a 13.76 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Eric Benjamin sold 12,394 shares of the stock in a transaction that occurred on Tuesday, January 21st. The shares were sold at an average price of $280.00, for a total value of $3,470,320.00. Following the completion of the sale, the executive vice president now directly owns 11,383 shares of the company’s stock, valued at $3,187,240. This represents a 52.13 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.47% of the company’s stock.

Insulet Stock Up 0.8 %

Shares of Insulet stock opened at $285.34 on Tuesday. The stock has a market capitalization of $20.01 billion, a P/E ratio of 48.86, a PEG ratio of 3.61 and a beta of 1.23. The company has a quick ratio of 2.80, a current ratio of 3.68 and a debt-to-equity ratio of 1.21. The stock has a 50 day moving average price of $270.65 and a two-hundred day moving average price of $242.24. Insulet Co. has a 12-month low of $160.19 and a 12-month high of $289.46.

Analyst Upgrades and Downgrades

PODD has been the topic of several recent analyst reports. TD Cowen boosted their price objective on Insulet from $264.00 to $324.00 and gave the stock a “buy” rating in a report on Friday, January 3rd. Wells Fargo & Company upped their target price on Insulet from $290.00 to $305.00 and gave the company an “overweight” rating in a report on Wednesday, December 11th. Canaccord Genuity Group upped their target price on Insulet from $269.00 to $304.00 and gave the company a “buy” rating in a report on Monday, December 9th. Morgan Stanley upped their target price on Insulet from $234.00 to $317.00 and gave the company an “overweight” rating in a report on Monday, November 11th. Finally, BTIG Research increased their price objective on Insulet from $260.00 to $270.00 and gave the stock a “buy” rating in a report on Friday, November 8th. Two investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $277.13.

Insulet Company 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.