Eastern Bank Sells 1,598 Shares of Insulet Co. (NASDAQ:PODD)

Eastern Bank lowered its stake in Insulet Co. (NASDAQ:PODD) by 35.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,912 shares of the medical instruments supplier’s stock after selling 1,598 shares during the quarter. Eastern Bank’s holdings in Insulet were worth $760,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently made changes to their positions in PODD. Marshall Wace LLP bought a new position in shares of Insulet in the second quarter worth about $99,978,000. Baillie Gifford & Co. lifted its holdings in shares of Insulet by 20.7% in the third quarter. Baillie Gifford & Co. now owns 2,275,701 shares of the medical instruments supplier’s stock worth $529,669,000 after acquiring an additional 389,639 shares during the last quarter. Mizuho Securities USA LLC lifted its holdings in shares of Insulet by 5,928.1% in the third quarter. Mizuho Securities USA LLC now owns 325,821 shares of the medical instruments supplier’s stock worth $75,835,000 after acquiring an additional 320,416 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of Insulet by 43.8% in the third quarter. Charles Schwab Investment Management Inc. now owns 636,265 shares of the medical instruments supplier’s stock worth $148,091,000 after acquiring an additional 193,839 shares during the last quarter. Finally, Westfield Capital Management Co. LP lifted its holdings in shares of Insulet by 27.6% in the third quarter. Westfield Capital Management Co. LP now owns 754,872 shares of the medical instruments supplier’s stock worth $175,697,000 after acquiring an additional 163,388 shares during the last quarter.

Insider Transactions at Insulet

In other news, CAO Lauren Budden sold 915 shares of the firm’s stock in a transaction that occurred on Tuesday, December 10th. The shares were sold at an average price of $275.62, for a total transaction of $252,192.30. Following the completion of the sale, the chief accounting officer now owns 5,733 shares of the company’s stock, valued at $1,580,129.46. This trade represents a 13.76 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Insiders own 0.47% of the company’s stock.

Insulet Stock Performance

Shares of PODD stock opened at $267.99 on Tuesday. The company has a market cap of $18.80 billion, a price-to-earnings ratio of 45.89, a price-to-earnings-growth ratio of 4.12 and a beta of 1.22. Insulet Co. has a 52 week low of $160.19 and a 52 week high of $279.77. 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 50 day moving average of $264.57 and a 200-day moving average of $230.93.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on PODD. Wells Fargo & Company raised their price objective on shares of Insulet from $290.00 to $305.00 and gave the company an “overweight” rating in a report on Wednesday, December 11th. TD Cowen raised their price objective on shares of Insulet from $264.00 to $324.00 and gave the company a “buy” rating in a report on Friday, January 3rd. Barclays raised their price objective 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. Citigroup raised their price objective on shares of Insulet from $283.00 to $310.00 and gave the company a “buy” rating in a report on Wednesday, December 11th. Finally, Raymond James raised their price objective on shares of Insulet from $213.00 to $260.00 and gave the company an “outperform” rating in a report on Monday, October 14th. Three equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $272.81.

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.