Trust Asset Management LLC Acquires New Stake in Insulet Co. (NASDAQ:PODD)

Trust Asset Management LLC bought a new position in Insulet Co. (NASDAQ:PODD) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 810 shares of the medical instruments supplier’s stock, valued at approximately $211,000.

Other hedge funds also recently made changes to their positions in the company. Blue Trust Inc. boosted its position in shares of Insulet by 84.1% during the 3rd quarter. Blue Trust Inc. now owns 127 shares of the medical instruments supplier’s stock worth $30,000 after purchasing an additional 58 shares in the last quarter. Venturi Wealth Management LLC lifted 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 acquiring an additional 133 shares during the period. TD Private Client Wealth LLC boosted 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 acquiring an additional 56 shares in the last quarter. Friedenthal Financial acquired a new stake in shares of Insulet in the 4th quarter worth approximately $57,000. Finally, Versant Capital Management Inc increased its stake in Insulet by 106.1% in the 4th quarter. Versant Capital Management Inc now owns 305 shares of the medical instruments supplier’s stock valued at $80,000 after purchasing an additional 157 shares in the last quarter.

Insider Activity at Insulet

In related news, CAO Lauren Budden sold 915 shares of the firm’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 completion of the transaction, the chief accounting officer now owns 5,733 shares in the company, valued at $1,580,129.46. This trade represents a 13.76 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.47% of the company’s stock.

Wall Street Analyst Weigh In

PODD has been the subject of several recent research reports. Morgan Stanley raised their target price on shares of Insulet from $234.00 to $317.00 and gave the company an “overweight” rating in a report on Monday, November 11th. Sanford C. Bernstein began coverage on Insulet in a research report on Wednesday, November 6th. They set an “outperform” rating and a $300.00 price objective for the company. TD Cowen increased their target price on Insulet from $264.00 to $324.00 and gave the company a “buy” rating in a report on Friday, January 3rd. Citigroup increased their price objective on Insulet from $283.00 to $310.00 and gave the company a “buy” rating in a research note on Wednesday, December 11th. Finally, Wells Fargo & Company boosted their target price on shares of Insulet from $290.00 to $305.00 and gave the company an “overweight” rating in a research note on Wednesday, December 11th. Three equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $272.81.

Insulet Stock Up 1.1 %

Shares of Insulet stock opened at $275.81 on Tuesday. The stock has a 50 day moving average price of $266.30 and a two-hundred day moving average price of $233.51. The company has a quick ratio of 2.80, a current ratio of 3.68 and a debt-to-equity ratio of 1.21. Insulet Co. has a 12-month low of $160.19 and a 12-month high of $279.77. The stock has a market capitalization of $19.35 billion, a P/E ratio of 47.23, a PEG ratio of 3.46 and a beta of 1.22.

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.