abrdn plc Cuts Stock Position in Insulet Co. (NASDAQ:PODD)

abrdn plc lowered its holdings in shares of Insulet Co. (NASDAQ:PODD) by 9.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 183,075 shares of the medical instruments supplier’s stock after selling 19,046 shares during the quarter. abrdn plc owned 0.26% of Insulet worth $47,904,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Blue Trust Inc. raised its position in Insulet by 84.1% during 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. Venturi Wealth Management LLC increased its position in shares of Insulet by 633.3% during the 3rd quarter. Venturi Wealth Management LLC now owns 154 shares of the medical instruments supplier’s stock valued at $36,000 after purchasing an additional 133 shares during the last quarter. TD Private Client Wealth LLC raised its holdings in Insulet by 32.6% during the 3rd quarter. TD Private Client Wealth LLC now owns 228 shares of the medical instruments supplier’s stock valued at $53,000 after buying an additional 56 shares during the period. Friedenthal Financial bought a new position in Insulet during the fourth quarter valued at $57,000. Finally, Versant Capital Management Inc raised its stake in shares of Insulet by 106.1% in the fourth quarter. Versant Capital Management Inc now owns 305 shares of the medical instruments supplier’s stock valued at $80,000 after acquiring an additional 157 shares during the period.

Insider Buying and Selling at Insulet

In other news, EVP Eric Benjamin sold 12,394 shares of Insulet stock in a transaction that occurred on Tuesday, January 21st. The shares were 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 $3,187,240. The trade was a 52.13 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Lauren Budden sold 915 shares of the business’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 transaction of $252,192.30. Following the transaction, the chief accounting officer now owns 5,733 shares of the company’s stock, valued at approximately $1,580,129.46. This trade represents a 13.76 % decrease in their position. The disclosure for this sale can be found here. 0.47% of the stock is owned by insiders.

Insulet Trading Down 0.2 %

NASDAQ:PODD opened at $278.48 on Wednesday. The company has a debt-to-equity ratio of 1.21, a quick ratio of 2.80 and a current ratio of 3.68. The firm has a 50-day simple moving average of $269.18 and a 200-day simple moving average of $239.68. Insulet Co. has a one year low of $160.19 and a one year high of $286.39. The firm has a market cap of $19.53 billion, a P/E ratio of 47.68, a P/E/G ratio of 3.49 and a beta of 1.23.

Insulet (NASDAQ:PODD) last posted its earnings results on Thursday, November 7th. The medical instruments supplier reported $0.90 earnings per share for the quarter, topping analysts’ consensus estimates of $0.77 by $0.13. The company had revenue of $543.90 million during the quarter, compared to analyst estimates of $518.50 million. Insulet had a return on equity of 27.98% and a net margin of 21.22%. During the same quarter in the prior year, the business earned $0.71 earnings per share. Equities analysts anticipate that Insulet Co. will post 3.22 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages recently commented on PODD. Barclays upped their price target on shares of Insulet from $220.00 to $234.00 and gave the company an “equal weight” rating in a report on Monday, November 11th. Morgan Stanley increased their price target on Insulet from $234.00 to $317.00 and gave the stock an “overweight” rating in a report on Monday, November 11th. BTIG Research raised their price target on Insulet from $260.00 to $270.00 and gave the stock a “buy” rating in a research note on Friday, November 8th. Sanford C. Bernstein initiated coverage on Insulet in a research report on Wednesday, November 6th. They issued an “outperform” rating and a $300.00 price objective on the stock. Finally, Wells Fargo & Company lifted their target price on Insulet from $290.00 to $305.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 11th. Three research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat, Insulet has an average rating of “Moderate Buy” and a consensus price target of $272.81.

About Insulet

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.