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

abrdn plc trimmed its position in Insulet Co. (NASDAQ:PODD - Free Report) by 9.4% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm 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 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Blue Trust Inc. lifted its holdings in shares of Insulet by 84.1% in the 3rd quarter. Blue Trust Inc. now owns 127 shares of the medical instruments supplier's stock worth $30,000 after buying an additional 58 shares during the period. Venturi Wealth Management LLC lifted its stake 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 worth $36,000 after purchasing an additional 133 shares during the last quarter. Friedenthal Financial purchased a new stake in shares of Insulet during the 4th quarter worth $57,000. TD Private Client Wealth LLC lifted its stake in shares of Insulet by 32.6% during the 3rd quarter. TD Private Client Wealth LLC now owns 228 shares of the medical instruments supplier's stock worth $53,000 after purchasing an additional 56 shares during the last quarter. Finally, Versant Capital Management Inc lifted its stake in shares of Insulet by 106.1% during the 4th quarter. Versant Capital Management Inc now owns 305 shares of the medical instruments supplier's stock worth $80,000 after purchasing an additional 157 shares during the last quarter.

Insider Buying and Selling

In other Insulet news, EVP Eric Benjamin sold 12,394 shares of the 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 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 sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CAO Lauren Budden sold 915 shares of the 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 transaction, 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 position. The disclosure for this sale can be found here. 0.47% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on PODD shares. Wells Fargo & Company upped their price objective on Insulet from $290.00 to $305.00 and gave the stock an "overweight" rating in a research note on Wednesday, December 11th. JPMorgan Chase & Co. upped their price objective on Insulet from $280.00 to $330.00 and gave the stock an "overweight" rating in a research note on Thursday, December 12th. BTIG Research upped their price objective on Insulet from $260.00 to $270.00 and gave the stock a "buy" rating in a research note on Friday, November 8th. Morgan Stanley upped their target price on Insulet from $234.00 to $317.00 and gave the company an "overweight" rating in a research report on Monday, November 11th. Finally, Citigroup upped their target price on Insulet from $283.00 to $310.00 and gave the company a "buy" rating in a research report on Wednesday, December 11th. Two analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $277.13.

Insulet Stock Performance

Insulet stock traded down $4.59 during midday trading on Friday, hitting $283.08. 399,688 shares of the company were exchanged, compared to its average volume of 522,338. The firm has a market capitalization of $19.86 billion, a PE ratio of 48.47, a price-to-earnings-growth ratio of 3.61 and a beta of 1.23. Insulet Co. has a fifty-two week low of $160.19 and a fifty-two week high of $289.46. The business has a fifty day simple moving average of $270.27 and a two-hundred day simple moving average of $241.25. The company has a debt-to-equity ratio of 1.21, a quick ratio of 2.80 and a current ratio of 3.68.

Insulet (NASDAQ:PODD - Get Free Report) last posted its earnings results on Thursday, November 7th. The medical instruments supplier reported $0.90 EPS for the quarter, topping the consensus estimate of $0.77 by $0.13. The firm had revenue of $543.90 million for 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 period last year, the company earned $0.71 earnings per share. On average, sell-side analysts forecast that Insulet Co. will post 3.22 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.