Contravisory Investment Management Inc. Acquires Shares of 2,113 Insulet Co. (NASDAQ:PODD)

Contravisory Investment Management Inc. bought a new position in shares of Insulet Co. (NASDAQ:PODD) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 2,113 shares of the medical instruments supplier’s stock, valued at approximately $552,000.

A number of other institutional investors also recently modified their holdings of PODD. Integrated Wealth Concepts LLC increased its position in shares of Insulet by 1.7% in the third quarter. Integrated Wealth Concepts LLC now owns 2,561 shares of the medical instruments supplier’s stock worth $596,000 after purchasing an additional 42 shares during the period. Glenmede Trust Co. NA lifted its holdings in shares of Insulet by 2.3% during the 3rd quarter. Glenmede Trust Co. NA now owns 2,080 shares of the medical instruments supplier’s stock worth $484,000 after acquiring an additional 47 shares during the period. Graypoint LLC boosted its position in shares of Insulet by 5.3% during the 4th quarter. Graypoint LLC now owns 930 shares of the medical instruments supplier’s stock worth $243,000 after acquiring an additional 47 shares in the last quarter. Wedmont Private Capital raised its position in Insulet by 3.5% during the third quarter. Wedmont Private Capital now owns 1,433 shares of the medical instruments supplier’s stock valued at $326,000 after purchasing an additional 48 shares in the last quarter. Finally, OVERSEA CHINESE BANKING Corp Ltd increased its stake in shares of Insulet by 4.7% in the 3rd quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 1,076 shares of the medical instruments supplier’s stock valued at $250,000 after purchasing an additional 48 shares during the last quarter.

Insiders Place Their Bets

In other Insulet news, CAO Lauren Budden sold 915 shares of the firm’s stock in a transaction 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 directly owns 5,733 shares in the company, valued at approximately $1,580,129.46. This trade represents a 13.76 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.47% of the company’s stock.

Insulet Stock Down 1.0 %

Insulet stock opened at $264.38 on Thursday. The company has a current ratio of 3.68, a quick ratio of 2.80 and a debt-to-equity ratio of 1.21. Insulet Co. has a 1-year low of $160.19 and a 1-year high of $279.77. The firm has a market capitalization of $18.54 billion, a price-to-earnings ratio of 45.27, a price-to-earnings-growth ratio of 3.41 and a beta of 1.22. The firm’s fifty day moving average price is $265.59 and its two-hundred day moving average price is $231.62.

Analyst Ratings Changes

Several research analysts have commented on the company. Raymond James boosted their target price on Insulet from $213.00 to $260.00 and gave the stock an “outperform” rating in a research note on Monday, October 14th. Sanford C. Bernstein initiated coverage on Insulet in a report on Wednesday, November 6th. They set an “outperform” rating and a $300.00 price target on the stock. Morgan Stanley raised their price target on shares of Insulet from $234.00 to $317.00 and gave the company an “overweight” rating in a research note on Monday, November 11th. Citigroup upped their price target on Insulet from $283.00 to $310.00 and gave the company a “buy” rating in a research report on Wednesday, December 11th. Finally, Canaccord Genuity Group raised their price objective on Insulet from $269.00 to $304.00 and gave the stock a “buy” rating in a research report on Monday, December 9th. Three research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price 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.