Bessemer Group Inc. boosted its holdings in shares of Insulet Co. (NASDAQ:PODD – Free Report) by 37.0% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 315 shares of the medical instruments supplier’s stock after purchasing an additional 85 shares during the quarter. Bessemer Group Inc.’s holdings in Insulet were worth $101,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in PODD. Synovus Financial Corp boosted its position in shares of Insulet by 1.0% in the fourth quarter. Synovus Financial Corp now owns 3,921 shares of the medical instruments supplier’s stock valued at $1,154,000 after acquiring an additional 37 shares during the period. Lincoln National Corp boosted its holdings in Insulet by 5.7% in the 1st quarter. Lincoln National Corp now owns 746 shares of the medical instruments supplier’s stock valued at $238,000 after purchasing an additional 40 shares during the period. Keybank National Association OH grew its position in Insulet by 2.2% in the 1st quarter. Keybank National Association OH now owns 1,907 shares of the medical instruments supplier’s stock worth $608,000 after purchasing an additional 41 shares during the last quarter. Banque Cantonale Vaudoise increased its holdings in shares of Insulet by 1.1% during the 4th quarter. Banque Cantonale Vaudoise now owns 4,133 shares of the medical instruments supplier’s stock worth $1,217,000 after purchasing an additional 44 shares during the period. Finally, Global Retirement Partners LLC raised its position in shares of Insulet by 51.1% during the first quarter. Global Retirement Partners LLC now owns 133 shares of the medical instruments supplier’s stock valued at $43,000 after buying an additional 45 shares during the last quarter.
Wall Street Analysts Forecast Growth
A number of equities research analysts recently weighed in on PODD shares. Bank of America decreased their target price on Insulet from $365.00 to $295.00 and set a “buy” rating on the stock in a research report on Thursday. Morgan Stanley lowered their price objective on Insulet from $343.00 to $208.00 and set an “equal weight” rating on the stock in a research report on Thursday. Barclays cut their target price on Insulet from $329.00 to $257.00 and set an “equal weight” rating for the company in a research note on Thursday, August 10th. Piper Sandler lowered their price target on shares of Insulet from $360.00 to $325.00 in a report on Wednesday, August 9th. Finally, Raymond James reduced their price objective on shares of Insulet from $350.00 to $299.00 and set an “outperform” rating for the company in a report on Wednesday, August 9th. Eight analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Insulet has an average rating of “Moderate Buy” and a consensus price target of $296.33.
Insider Buying and Selling
In other Insulet news, SVP Dan Manea sold 175 shares of the stock in a transaction on Tuesday, June 20th. The stock was sold at an average price of $290.00, for a total value of $50,750.00. Following the transaction, the senior vice president now directly owns 4,522 shares in the company, valued at approximately $1,311,380. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other Insulet news, SVP Dan Manea sold 175 shares of the company’s stock in a transaction dated Tuesday, June 20th. The shares were sold at an average price of $290.00, for a total transaction of $50,750.00. Following the transaction, the senior vice president now directly owns 4,522 shares in the company, valued at approximately $1,311,380. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Wayde D. Mcmillan sold 1,388 shares of the firm’s stock in a transaction dated Monday, July 3rd. The shares were sold at an average price of $282.94, for a total transaction of $392,720.72. Following the completion of the transaction, the chief financial officer now directly owns 21,477 shares in the company, valued at approximately $6,076,702.38. The disclosure for this sale can be found here. Insiders sold 17,063 shares of company stock worth $4,658,561 in the last quarter. Insiders own 0.90% of the company’s stock.
Insulet Trading Down 2.6 %
Shares of NASDAQ PODD opened at $183.00 on Friday. Insulet Co. has a 1-year low of $180.75 and a 1-year high of $335.91. The company has a current ratio of 3.34, a quick ratio of 2.38 and a debt-to-equity ratio of 2.47. The company has a 50-day moving average of $262.38 and a two-hundred day moving average of $288.68. The company has a market cap of $12.78 billion, a PE ratio of 205.62, a P/E/G ratio of 3.27 and a beta of 0.79.
About Insulet
Insulet Corporation develops, manufactures, and sells insulin delivery systems for people with insulin-dependent diabetes. It offers Omnipod System, a self-adhesive disposable tubeless Omnipod device that is worn on the body for up to three days at a time, as well as its wireless companion, the handheld personal diabetes manager.
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