Forsta AP Fonden Cuts Stock Position in Insulet Co. (NASDAQ:PODD)

Forsta AP Fonden trimmed its holdings in shares of Insulet Co. (NASDAQ:PODD) by 3.1% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 37,500 shares of the medical instruments supplier’s stock after selling 1,200 shares during the period. Forsta AP Fonden owned about 0.05% of Insulet worth $9,790,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Blue Trust Inc. raised its position in 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 stake in Insulet by 633.3% in the third quarter. Venturi Wealth Management LLC now owns 154 shares of the medical instruments supplier’s stock valued at $36,000 after purchasing an additional 133 shares during the last quarter. Friedenthal Financial bought a new position in Insulet during the fourth quarter valued at $57,000. TD Private Client Wealth LLC increased its position in Insulet by 32.6% in the third 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. Finally, Versant Capital Management Inc raised its stake in shares of Insulet by 106.1% in 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.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on PODD shares. JPMorgan Chase & Co. lifted their price objective on Insulet from $280.00 to $330.00 and gave the stock an “overweight” rating in a report on Thursday, December 12th. BTIG Research raised their price objective on shares of Insulet from $260.00 to $270.00 and gave the stock a “buy” rating in a report on Friday, November 8th. Wells Fargo & Company increased their target price on Insulet from $290.00 to $305.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 11th. Raymond James lifted their price target on Insulet from $213.00 to $260.00 and gave the company an “outperform” rating in a research report on Monday, October 14th. Finally, Canaccord Genuity Group increased 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 analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $272.81.

Insider Transactions at Insulet

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

Insulet Stock Up 1.1 %

PODD opened at $280.03 on Friday. 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 business’s fifty day simple moving average is $268.38 and its 200 day simple moving average is $237.41. Insulet Co. has a 52 week low of $160.19 and a 52 week high of $286.39. The stock has a market cap of $19.64 billion, a PE ratio of 47.95, a P/E/G ratio of 3.50 and a beta of 1.22.

Insulet (NASDAQ:PODD) last announced its quarterly earnings data on Thursday, November 7th. The medical instruments supplier reported $0.90 earnings per share for the quarter, topping analysts’ consensus estimates of $0.77 by $0.13. Insulet had a net margin of 21.22% and a return on equity of 27.98%. The firm had revenue of $543.90 million during the quarter, compared to analyst estimates of $518.50 million. During the same period in the previous year, the business posted $0.71 EPS. As a group, research analysts expect that Insulet Co. will post 3.22 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.