Alberta Investment Management Corp Boosts Position in Insulet Co. (NASDAQ:PODD)

Alberta Investment Management Corp raised its stake in Insulet Co. (NASDAQ:PODD) by 57.6% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 3,400 shares of the medical instruments supplier’s stock after buying an additional 1,242 shares during the period. Alberta Investment Management Corp’s holdings in Insulet were worth $888,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in PODD. Blue Trust Inc. boosted its holdings in shares of Insulet by 84.1% in the third quarter. Blue Trust Inc. now owns 127 shares of the medical instruments supplier’s stock valued at $30,000 after purchasing an additional 58 shares during the period. Raymond James & Associates lifted its holdings in shares of Insulet by 3.8% in the 3rd quarter. Raymond James & Associates now owns 37,456 shares of the medical instruments supplier’s stock worth $8,718,000 after buying an additional 1,367 shares during the period. Private Advisor Group LLC lifted its holdings in shares of Insulet by 131.8% in the 3rd quarter. Private Advisor Group LLC now owns 7,387 shares of the medical instruments supplier’s stock worth $1,719,000 after buying an additional 4,200 shares during the period. Greenleaf Trust grew its position in shares of Insulet by 4.2% during the 3rd quarter. Greenleaf Trust now owns 1,783 shares of the medical instruments supplier’s stock worth $415,000 after buying an additional 72 shares in the last quarter. Finally, International Assets Investment Management LLC increased its stake in shares of Insulet by 23,175.0% during the third quarter. International Assets Investment Management LLC now owns 37,240 shares of the medical instruments supplier’s stock valued at $8,668,000 after buying an additional 37,080 shares during the period.

Insider Buying and Selling at Insulet

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

Insulet Stock Performance

Shares of Insulet stock opened at $282.80 on Friday. The firm has a market capitalization of $19.84 billion, a P/E ratio of 48.42, a PEG ratio of 3.56 and a beta of 1.23. Insulet Co. has a 52 week low of $160.19 and a 52 week high of $289.46. 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 company has a 50 day moving average price of $272.98 and a 200 day moving average price of $247.11.

Insulet (NASDAQ:PODD) last posted its quarterly earnings data on Thursday, February 20th. The medical instruments supplier reported $1.15 EPS for the quarter, topping the consensus estimate of $1.00 by $0.15. Insulet had a net margin of 21.22% and a return on equity of 27.98%. The business had revenue of $597.50 million during the quarter, compared to the consensus estimate of $582.02 million. Sell-side analysts expect that Insulet Co. will post 3.22 EPS for the current year.

Analyst Ratings Changes

Several research analysts have issued reports on the stock. Canaccord Genuity Group increased their target price on shares of Insulet from $304.00 to $324.00 and gave the stock a “buy” rating in a report on Friday. Sanford C. Bernstein began coverage on shares of Insulet in a report on Wednesday, November 6th. They set an “outperform” rating and a $300.00 price objective on the stock. Morgan Stanley upped their target price on Insulet from $234.00 to $317.00 and gave the stock an “overweight” rating in a report on Monday, November 11th. Barclays lifted their price target on Insulet from $220.00 to $234.00 and gave the company an “equal weight” rating in a report on Monday, November 11th. Finally, TD Cowen upped their price objective on Insulet from $264.00 to $324.00 and gave the stock a “buy” rating in a research note on Friday, January 3rd. Three research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $289.06.

Insulet Company 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.