Oppenheimer Asset Management Inc. Trims Holdings in Insulet Co. (NASDAQ:PODD)

Oppenheimer Asset Management Inc. decreased its holdings in Insulet Co. (NASDAQ:PODD) by 8.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 19,402 shares of the medical instruments supplier’s stock after selling 1,824 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in Insulet were worth $5,065,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Blue Trust Inc. raised its position in Insulet by 84.1% in the 3rd quarter. Blue Trust Inc. now owns 127 shares of the medical instruments supplier’s stock valued at $30,000 after purchasing an additional 58 shares during the last quarter. Venturi Wealth Management LLC raised its position 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 last quarter. TD Private Client Wealth LLC raised its position 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 last quarter. Friedenthal Financial purchased a new position in Insulet during the 4th quarter worth $57,000. Finally, Versant Capital Management Inc raised its position 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 last quarter.

Insider Activity at Insulet

In other Insulet news, CAO Lauren Budden sold 915 shares of the firm’s stock in a transaction dated Tuesday, December 10th. The shares were sold at an average price of $275.62, for a total transaction of $252,192.30. Following the sale, the chief accounting officer now directly owns 5,733 shares of the company’s stock, valued at $1,580,129.46. This trade represents a 13.76 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Eric Benjamin sold 12,394 shares of the firm’s stock in a transaction dated Tuesday, January 21st. The stock was sold at an average price of $280.00, for a total transaction of $3,470,320.00. Following the sale, the executive vice president now directly owns 11,383 shares in the company, 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. 0.47% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on PODD shares. Wells Fargo & Company upped their price objective on shares of Insulet from $305.00 to $322.00 and gave the stock an “overweight” rating in a research report on Friday, February 21st. Citigroup upped their price objective on shares of Insulet from $310.00 to $355.00 and gave the stock a “buy” rating in a research report on Friday, February 21st. JPMorgan Chase & Co. upped their price objective on shares of Insulet from $280.00 to $330.00 and gave the stock an “overweight” rating in a research report on Thursday, December 12th. StockNews.com raised shares of Insulet from a “hold” rating to a “buy” rating in a research note on Monday, February 24th. Finally, Stifel Nicolaus upped their price target on shares of Insulet from $245.00 to $293.00 and gave the stock a “hold” rating in a research note on Friday, February 21st. Three equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $289.06.

Insulet Price Performance

Shares of NASDAQ PODD opened at $272.27 on Friday. The stock has a market cap of $19.10 billion, a price-to-earnings ratio of 47.02, a PEG ratio of 3.62 and a beta of 1.23. Insulet Co. has a 52 week low of $160.19 and a 52 week high of $289.46. The company’s 50-day moving average price is $274.01 and its 200 day moving average price is $249.91. 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 (NASDAQ:PODD) last issued its quarterly earnings data on Thursday, February 20th. The medical instruments supplier reported $1.15 EPS for the quarter, beating analysts’ consensus estimates of $1.00 by $0.15. The firm had revenue of $597.50 million for the quarter, compared to analysts’ expectations of $582.02 million. Insulet had a net margin of 20.19% and a return on equity of 24.46%. As a group, research analysts forecast that Insulet Co. will post 3.92 earnings per share for the current fiscal year.

About Insulet

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.