Bank of Nova Scotia bought a new stake in Insulet Co. (NASDAQ:PODD – Get Rating) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 1,024 shares of the medical instruments supplier’s stock, valued at approximately $301,000.
A number of other institutional investors also recently bought and sold shares of the company. First Trust Advisors LP lifted its holdings in Insulet by 53.1% in the fourth quarter. First Trust Advisors LP now owns 72,862 shares of the medical instruments supplier’s stock valued at $21,450,000 after acquiring an additional 25,280 shares during the period. Jennison Associates LLC raised its stake in shares of Insulet by 21.1% in the fourth quarter. Jennison Associates LLC now owns 97,786 shares of the medical instruments supplier’s stock worth $28,787,000 after buying an additional 17,024 shares during the period. Dimensional Fund Advisors LP raised its stake in shares of Insulet by 2.4% in the fourth quarter. Dimensional Fund Advisors LP now owns 116,447 shares of the medical instruments supplier’s stock worth $34,280,000 after buying an additional 2,782 shares during the period. Principal Financial Group Inc. raised its stake in shares of Insulet by 561.1% in the fourth quarter. Principal Financial Group Inc. now owns 59,139 shares of the medical instruments supplier’s stock worth $17,410,000 after buying an additional 50,194 shares during the period. Finally, HighTower Advisors LLC raised its stake in shares of Insulet by 24.6% in the fourth quarter. HighTower Advisors LLC now owns 2,927 shares of the medical instruments supplier’s stock worth $858,000 after buying an additional 577 shares during the period.
Insider Transactions at Insulet
In other news, insider Charles Alpuche sold 4,000 shares of Insulet stock in a transaction that occurred on Tuesday, February 28th. The stock was sold at an average price of $278.82, for a total value of $1,115,280.00. Following the completion of the transaction, the insider now owns 45,584 shares in the company, valued at approximately $12,709,730.88. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, insider Charles Alpuche sold 4,000 shares of the firm’s stock in a transaction that occurred on Tuesday, February 28th. The stock was sold at an average price of $278.82, for a total transaction of $1,115,280.00. Following the completion of the sale, the insider now directly owns 45,584 shares of the company’s stock, valued at approximately $12,709,730.88. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Wayde D. Mcmillan sold 1,255 shares of the firm’s stock in a transaction that occurred on Monday, April 3rd. The stock was sold at an average price of $318.31, for a total value of $399,479.05. Following the sale, the chief financial officer now directly owns 22,865 shares of the company’s stock, valued at $7,278,158.15. The disclosure for this sale can be found here. In the last 90 days, insiders sold 32,656 shares of company stock worth $9,819,174. 0.90% of the stock is currently owned by company insiders.
Insulet Stock Performance
Insulet (NASDAQ:PODD – Get Rating) last announced its earnings results on Thursday, May 4th. The medical instruments supplier reported $0.23 EPS for the quarter, topping analysts’ consensus estimates of $0.09 by $0.14. The firm had revenue of $358.10 million during the quarter, compared to analysts’ expectations of $330.21 million. Insulet had a return on equity of 17.29% and a net margin of 0.04%. The company’s quarterly revenue was up 21.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.40 EPS. On average, research analysts predict that Insulet Co. will post 1.37 EPS for the current fiscal year.
Analysts Set New Price Targets
Several research analysts have recently commented on the company. Morgan Stanley raised their price objective on Insulet from $320.00 to $325.00 and gave the stock an “equal weight” rating in a research note on Friday, February 24th. UBS Group raised their price objective on Insulet from $328.00 to $360.00 in a research note on Friday, May 5th. BTIG Research lifted their target price on Insulet from $340.00 to $350.00 and gave the company a “buy” rating in a research note on Monday, April 17th. Robert W. Baird lifted their target price on Insulet from $350.00 to $370.00 in a research note on Friday, May 5th. Finally, Piper Sandler lifted their target price on Insulet from $340.00 to $360.00 in a research note on Friday, May 5th. Eight investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Insulet has an average rating of “Hold” and a consensus target price of $330.00.
About Insulet
Insulet Corp. is a medical device company, which engages in the development, manufacture, and marketing of an insulin infusion system for people with insulin-dependent diabetes. It specializes in diabetes supplies, including the OmniPod System, as well as other diabetes related products and supplies such as blood glucose testing supplies, traditional insulin pumps, pump supplies, and pharmaceuticals.
Featured Articles
- Get a free copy of the StockNews.com research report on Insulet (PODD)
- Ralph Lauren’s Styled Dividend Is Still In Season
- Dollar Tree Falls As Theft Cuts Into Bottom Line
- Best Buy’s Comeback Is Still At Play, Earnings Call For Patience
- e.l.f. Beauty Has Giant Quarter, Shares Hit New High
- If You Can Only Pick One Stock For The Rest Of 2023, Pick Nvidia
Want to see what other hedge funds are holding PODD? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Insulet Co. (NASDAQ:PODD – Get Rating).
Receive News & Ratings for Insulet Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Insulet and related companies with MarketBeat.com's FREE daily email newsletter.
