Retirement Planning Co of New England Inc. Sells 200 Shares of Insulet Co. (NASDAQ:PODD)

Retirement Planning Co of New England Inc. reduced its holdings in Insulet Co. (NASDAQ:PODD) by 7.2% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 2,592 shares of the medical instruments supplier’s stock after selling 200 shares during the quarter. Retirement Planning Co of New England Inc.’s holdings in Insulet were worth $677,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in PODD. Prime Capital Investment Advisors LLC bought a new stake in shares of Insulet in the 3rd quarter worth approximately $265,000. Victory Capital Management Inc. boosted its position in shares of Insulet by 5.1% during the third quarter. Victory Capital Management Inc. now owns 35,706 shares of the medical instruments supplier’s stock valued at $8,311,000 after purchasing an additional 1,724 shares in the last quarter. Huntington National Bank boosted its position in shares of Insulet by 53.9% during the third quarter. Huntington National Bank now owns 711 shares of the medical instruments supplier’s stock valued at $165,000 after purchasing an additional 249 shares in the last quarter. Metis Global Partners LLC boosted its position in shares of Insulet by 4.3% during the third quarter. Metis Global Partners LLC now owns 2,953 shares of the medical instruments supplier’s stock valued at $687,000 after purchasing an additional 122 shares in the last quarter. Finally, CIBC Asset Management Inc boosted its position in shares of Insulet by 8.3% during the third quarter. CIBC Asset Management Inc now owns 10,203 shares of the medical instruments supplier’s stock valued at $2,375,000 after purchasing an additional 783 shares in the last quarter.

Wall Street Analyst Weigh In

Several research firms recently weighed in on PODD. TD Cowen lifted their price target on Insulet from $264.00 to $324.00 and gave the company a “buy” rating in a research report on Friday, January 3rd. Raymond James restated an “outperform” rating and set a $328.00 price target (up from $294.00) on shares of Insulet in a research report on Friday, February 21st. StockNews.com lowered Insulet from a “buy” rating to a “hold” rating in a research report on Tuesday, March 4th. 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, Royal Bank of Canada initiated coverage on Insulet in a report on Thursday, March 6th. They issued an “outperform” rating and a $340.00 target price on the stock. Four equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $292.06.

Insulet Stock Up 2.4 %

PODD stock opened at $261.63 on Tuesday. Insulet Co. has a 1-year low of $160.19 and a 1-year high of $289.46. The business has a fifty day moving average price of $272.40 and a 200-day moving average price of $255.72. The company has a debt-to-equity ratio of 1.21, a current ratio of 3.68 and a quick ratio of 2.80. The stock has a market capitalization of $18.37 billion, a P/E ratio of 45.19, a P/E/G ratio of 3.62 and a beta of 1.29.

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

Insider Activity at Insulet

In related news, EVP Eric Benjamin sold 12,394 shares of the company’s stock in a transaction on 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 completion of the sale, the executive vice president now owns 11,383 shares in the company, valued at approximately $3,187,240. This represents a 52.13 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.47% of the stock is owned by company insiders.

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.