Eastern Bank Has $760,000 Position in Insulet Co. (NASDAQ:PODD)

Eastern Bank lowered its holdings in Insulet Co. (NASDAQ:PODD) by 35.4% in the 4th quarter, HoldingsChannel.com reports. The firm 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.

Other hedge funds have also bought and sold shares of the company. Baillie Gifford & Co. lifted its stake in Insulet by 20.7% during the 3rd quarter. Baillie Gifford & Co. now owns 2,275,701 shares of the medical instruments supplier’s stock valued at $529,669,000 after acquiring an additional 389,639 shares in the last quarter. Geode Capital Management LLC lifted its stake in Insulet by 1.3% during the 3rd quarter. Geode Capital Management LLC now owns 1,738,601 shares of the medical instruments supplier’s stock valued at $403,339,000 after acquiring an additional 22,850 shares in the last quarter. Clearbridge Investments LLC lifted its stake in Insulet by 6.0% during the 2nd quarter. Clearbridge Investments LLC now owns 1,339,763 shares of the medical instruments supplier’s stock valued at $270,364,000 after acquiring an additional 75,526 shares in the last quarter. Westfield Capital Management Co. LP lifted its stake in Insulet by 27.6% during the 3rd quarter. Westfield Capital Management Co. LP now owns 754,872 shares of the medical instruments supplier’s stock valued at $175,697,000 after acquiring an additional 163,388 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its stake in Insulet by 43.8% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 636,265 shares of the medical instruments supplier’s stock valued at $148,091,000 after acquiring an additional 193,839 shares in the last quarter.

Insulet Trading Down 1.4 %

Shares of PODD opened at $267.99 on Tuesday. The business has a 50-day moving average of $264.57 and a 200 day moving average of $230.93. Insulet Co. has a fifty-two week low of $160.19 and a fifty-two week high of $279.77. The firm has a market cap of $18.80 billion, a P/E ratio of 45.89, a price-to-earnings-growth ratio of 4.12 and a beta of 1.22. The company has a debt-to-equity ratio of 1.21, a quick ratio of 2.80 and a current ratio of 3.68.

Analyst Ratings Changes

PODD has been the topic of several recent analyst reports. Raymond James raised their price objective on Insulet from $213.00 to $260.00 and gave the company an “outperform” rating in a research note on Monday, October 14th. BTIG Research raised their price objective on Insulet from $260.00 to $270.00 and gave the company a “buy” rating in a research note on Friday, November 8th. Morgan Stanley lifted their target price on Insulet from $234.00 to $317.00 and gave the stock an “overweight” rating in a research note on Monday, November 11th. Wells Fargo & Company lifted their target price on Insulet from $290.00 to $305.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 11th. Finally, Piper Sandler lifted their target price on Insulet from $230.00 to $285.00 and gave the stock an “overweight” rating in a research note on Tuesday, September 17th. Three investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $272.81.

Insider Buying and Selling at Insulet

In other Insulet news, CAO Lauren Budden sold 915 shares of Insulet stock in a transaction dated 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 of the company’s stock, valued at $1,580,129.46. The trade was a 13.76 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders own 0.47% of the company’s stock.

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.