Alecta Tjanstepension Omsesidigt Acquires New Position in Insulet Co. (NASDAQ:PODD)

Alecta Tjanstepension Omsesidigt bought a new position in shares of Insulet Co. (NASDAQ:PODD) during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm bought 203,800 shares of the medical instruments supplier’s stock, valued at approximately $53,184,000. Alecta Tjanstepension Omsesidigt owned about 0.29% of Insulet as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. QRG Capital Management Inc. bought a new stake in Insulet in the 3rd quarter valued at about $297,000. Sumitomo Mitsui DS Asset Management Company Ltd increased its stake in shares of Insulet by 30.1% in the fourth quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 8,395 shares of the medical instruments supplier’s stock valued at $2,192,000 after purchasing an additional 1,942 shares during the period. Fisher Asset Management LLC raised its holdings in shares of Insulet by 0.9% during the third quarter. Fisher Asset Management LLC now owns 351,100 shares of the medical instruments supplier’s stock valued at $81,719,000 after buying an additional 3,113 shares during the last quarter. Orion Portfolio Solutions LLC boosted its position in shares of Insulet by 86.2% during the third quarter. Orion Portfolio Solutions LLC now owns 7,826 shares of the medical instruments supplier’s stock worth $1,822,000 after buying an additional 3,623 shares during the period. Finally, Nomura Asset Management Co. Ltd. grew its holdings in Insulet by 5.7% in the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 153,416 shares of the medical instruments supplier’s stock worth $35,708,000 after buying an additional 8,301 shares in the last quarter.

Insider Activity

In other Insulet news, EVP Eric Benjamin sold 12,394 shares of the stock in a transaction dated Tuesday, January 21st. The stock was sold at an average price of $280.00, for a total value of $3,470,320.00. Following the transaction, the executive vice president now owns 11,383 shares of the company’s stock, valued at approximately $3,187,240. This represents a 52.13 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CAO Lauren Budden sold 915 shares of the business’s stock in a transaction dated Tuesday, December 10th. The stock was sold at an average price of $275.62, for a total value of $252,192.30. Following the transaction, the chief accounting officer now owns 5,733 shares of the company’s stock, valued at $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 owned by insiders.

Analysts Set New Price Targets

Several analysts have weighed in on PODD shares. Raymond James reaffirmed an “outperform” rating and set a $328.00 target price (up previously from $294.00) on shares of Insulet in a research note on Friday, February 21st. StockNews.com upgraded shares of Insulet from a “hold” rating to a “buy” rating in a research note on Monday. Stifel Nicolaus raised their target price on shares of Insulet from $245.00 to $293.00 and gave the company a “hold” rating in a research note on Friday, February 21st. Piper Sandler lifted their price target on Insulet from $285.00 to $310.00 and gave the company an “overweight” rating in a research report on Friday, February 21st. Finally, Morgan Stanley upped their price target on Insulet from $234.00 to $317.00 and gave the company an “overweight” rating in a report on Monday, November 11th. Three research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to MarketBeat, Insulet currently has a consensus rating of “Moderate Buy” and a consensus target price of $289.06.

Insulet Stock Up 1.5 %

Shares of Insulet stock opened at $270.64 on Thursday. Insulet Co. has a 12-month low of $160.19 and a 12-month high of $289.46. The stock has a market capitalization of $18.98 billion, a P/E ratio of 46.74, a PEG ratio of 3.62 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 $273.69 and a two-hundred day moving average price of $249.20.

Insulet (NASDAQ:PODD) last released its earnings results on Thursday, February 20th. The medical instruments supplier reported $1.15 earnings per share for the quarter, beating the consensus estimate of $1.00 by $0.15. Insulet had a net margin of 20.19% and a return on equity of 24.46%. The business had revenue of $597.50 million during the quarter, compared to analysts’ expectations of $582.02 million. Equities analysts expect that Insulet Co. will post 3.92 earnings per share for the current year.

Insulet 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.