Jupiter Asset Management Ltd. Purchases New Stake in Insulet Co. (NASDAQ:PODD)

Jupiter Asset Management Ltd. purchased a new stake in Insulet Co. (NASDAQ:PODD) during the 2nd quarter, HoldingsChannel.com reports. The firm purchased 22,306 shares of the medical instruments supplier’s stock, valued at approximately $6,431,000.

Other hedge funds have also added to or reduced their stakes in the company. Ethic Inc. lifted its stake in Insulet by 30.3% in the first quarter. Ethic Inc. now owns 2,530 shares of the medical instruments supplier’s stock valued at $807,000 after buying an additional 589 shares during the period. Private Advisor Group LLC acquired a new position in Insulet in the first quarter valued at about $468,000. Rhumbline Advisers lifted its stake in Insulet by 78.8% in the first quarter. Rhumbline Advisers now owns 151,577 shares of the medical instruments supplier’s stock valued at $48,347,000 after buying an additional 66,814 shares during the period. Retirement Systems of Alabama acquired a new position in Insulet in the first quarter valued at about $6,547,000. Finally, Ontario Teachers Pension Plan Board acquired a new position in Insulet in the first quarter valued at about $249,000.

Insulet Stock Down 0.4 %

PODD stock opened at $174.06 on Friday. The company has a quick ratio of 2.35, a current ratio of 3.26 and a debt-to-equity ratio of 2.26. The business has a 50 day moving average price of $153.90 and a two-hundred day moving average price of $227.20. The company has a market cap of $12.15 billion, a price-to-earnings ratio of 101.79, a P/E/G ratio of 2.34 and a beta of 0.83. Insulet Co. has a twelve month low of $125.82 and a twelve month high of $335.91.

Insider Buying and Selling at Insulet

In other Insulet news, Director Shacey Petrovic sold 20,000 shares of the firm’s stock in a transaction that occurred on Monday, November 13th. The stock was sold at an average price of $164.33, for a total value of $3,286,600.00. Following the completion of the transaction, the director now directly owns 2,567 shares in the company, valued at $421,835.11. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Insulet news, Director Shacey Petrovic sold 20,000 shares of the firm’s stock in a transaction that occurred on Monday, November 13th. The stock was sold at an average price of $164.33, for a total value of $3,286,600.00. Following the completion of the transaction, the director now directly owns 2,567 shares in the company, valued at $421,835.11. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO James Hollingshead purchased 5,550 shares of the firm’s stock in a transaction on Monday, August 28th. The stock was bought at an average price of $181.41 per share, with a total value of $1,006,825.50. Following the completion of the purchase, the chief executive officer now owns 34,177 shares of the company’s stock, valued at $6,200,049.57. The disclosure for this purchase can be found here. Corporate insiders own 0.90% of the company’s stock.

Analysts Set New Price Targets

Several research firms have weighed in on PODD. Morgan Stanley cut their target price on Insulet from $208.00 to $185.00 and set an “equal weight” rating on the stock in a research note on Friday, September 29th. JPMorgan Chase & Co. dropped their price target on Insulet from $325.00 to $162.00 and set an “overweight” rating on the stock in a research report on Tuesday, October 17th. Bank of America dropped their price target on Insulet from $365.00 to $295.00 and set a “buy” rating on the stock in a research report on Thursday, August 24th. SVB Leerink started coverage on Insulet in a research report on Monday, October 16th. They set an “outperform” rating and a $184.00 price target on the stock. Finally, Wells Fargo & Company dropped their price target on Insulet from $375.00 to $330.00 and set an “overweight” rating on the stock in a research report on Wednesday, August 9th. Seven investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $254.80.

Insulet Profile

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.