Bank of Nova Scotia Buys 1,231 Shares of Insulet Co. (NASDAQ:PODD)

Bank of Nova Scotia raised its stake in Insulet Co. (NASDAQ:PODD - Free Report) by 18.2% during the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 7,982 shares of the medical instruments supplier's stock after buying an additional 1,231 shares during the quarter. Bank of Nova Scotia's holdings in Insulet were worth $2,084,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of PODD. Horizon Investments LLC grew its stake in shares of Insulet by 3.1% in the 4th quarter. Horizon Investments LLC now owns 1,387 shares of the medical instruments supplier's stock worth $362,000 after purchasing an additional 42 shares during the last quarter. Nisa Investment Advisors LLC increased its position in Insulet by 1.0% during the fourth quarter. Nisa Investment Advisors LLC now owns 4,388 shares of the medical instruments supplier's stock worth $1,146,000 after buying an additional 43 shares during the last quarter. Graypoint LLC raised its stake in shares of Insulet by 5.3% in the 4th quarter. Graypoint LLC now owns 930 shares of the medical instruments supplier's stock valued at $243,000 after acquiring an additional 47 shares in the last quarter. Wilmington Savings Fund Society FSB lifted its stake in shares of Insulet by 9.6% in the fourth quarter. Wilmington Savings Fund Society FSB now owns 538 shares of the medical instruments supplier's stock worth $140,000 after buying an additional 47 shares during the last quarter. Finally, Envestnet Portfolio Solutions Inc. boosted its stake in Insulet by 2.3% during the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 2,113 shares of the medical instruments supplier's stock valued at $552,000 after purchasing an additional 48 shares during the period.

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Analysts Set New Price Targets

Several analysts have recently weighed in on PODD shares. Royal Bank of Canada assumed coverage on Insulet in a report on Thursday, March 6th. They set an "outperform" rating and a $340.00 price objective on the stock. Stifel Nicolaus upped their target price on shares of Insulet from $245.00 to $293.00 and gave the company a "hold" rating in a research report on Friday, February 21st. StockNews.com downgraded shares of Insulet from a "buy" rating to a "hold" rating in a research report on Tuesday, March 4th. TD Cowen increased their price target on Insulet from $264.00 to $324.00 and gave the stock a "buy" rating in a report on Friday, January 3rd. Finally, Citigroup boosted their price objective on shares of Insulet from $310.00 to $355.00 and gave the company a "buy" rating in a research report on Friday, February 21st. Four analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $292.06.

Insulet Stock Performance

Insulet stock traded up $0.95 during midday trading on Tuesday, reaching $256.42. The stock had a trading volume of 542,491 shares, compared to its average volume of 717,169. 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 firm has a market capitalization of $18.01 billion, a PE ratio of 44.29, a P/E/G ratio of 3.62 and a beta of 1.30. Insulet Co. has a 12 month low of $160.19 and a 12 month high of $289.46. The firm's 50-day moving average price is $265.46 and its 200 day moving average price is $260.69.

Insulet (NASDAQ:PODD - Get Free Report) last released 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. The company had revenue of $597.50 million during the quarter, compared to the consensus estimate of $582.02 million. Insulet had a net margin of 20.19% and a return on equity of 24.46%. As a group, research analysts predict that Insulet Co. will post 3.92 earnings per share for the current fiscal year.

Insider Transactions at Insulet

In related news, Director Wayne A.I. Frederick sold 1,825 shares of the business's stock in a transaction dated Tuesday, March 25th. The stock was sold at an average price of $275.00, for a total transaction of $501,875.00. Following the completion of the transaction, the director now directly owns 3,231 shares in the company, valued at $888,525. The trade was a 36.10 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Eric Benjamin sold 12,394 shares of the company'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 completion of the transaction, the executive vice president now owns 11,383 shares in the company, valued at approximately $3,187,240. This trade represents a 52.13 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.47% of the company's stock.

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.