Ameriprise Financial Inc. Takes Position in Insulet Co. (PODD)
Ameriprise Financial Inc. acquired a new stake in Insulet Co. (NASDAQ:PODD) in the third quarter, HoldingsChannel reports. The fund acquired 26,507 shares of the medical instruments supplier’s stock, valued at approximately $1,460,000.
Other institutional investors and hedge funds have also recently made changes to their positions in the company. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of Insulet by 11.4% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,302 shares of the medical instruments supplier’s stock valued at $118,000 after purchasing an additional 235 shares during the period. SG Americas Securities LLC acquired a new position in Insulet in the second quarter valued at about $180,000. RNC Capital Management LLC acquired a new position in Insulet in the second quarter valued at about $225,000. Amalgamated Bank lifted its position in Insulet by 5.7% in the second quarter. Amalgamated Bank now owns 7,476 shares of the medical instruments supplier’s stock valued at $384,000 after buying an additional 406 shares during the last quarter. Finally, Strs Ohio lifted its position in Insulet by 29.6% in the third quarter. Strs Ohio now owns 7,000 shares of the medical instruments supplier’s stock valued at $385,000 after buying an additional 1,600 shares during the last quarter.
Shares of Insulet Co. (NASDAQ:PODD) opened at $75.08 on Wednesday. The company has a quick ratio of 4.42, a current ratio of 4.88 and a debt-to-equity ratio of 4.65. The company has a market capitalization of $4,550.00, a PE ratio of -150.16 and a beta of 1.58. Insulet Co. has a fifty-two week low of $38.19 and a fifty-two week high of $78.65.
In other news, Director James C. Mullen bought 2,500 shares of the firm’s stock in a transaction dated Monday, November 13th. The stock was acquired at an average price of $67.45 per share, for a total transaction of $168,625.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 2.60% of the stock is currently owned by insiders.
A number of research firms have commented on PODD. Zacks Investment Research cut shares of Insulet from a “hold” rating to a “sell” rating in a research report on Tuesday. Morgan Stanley lifted their price objective on Insulet from $55.00 to $63.00 and gave the stock an “equal weight” rating in a research report on Friday, November 3rd. Barclays initiated coverage on Insulet in a research report on Friday, September 15th. They set an “overweight” rating and a $65.00 price objective for the company. UBS Group upgraded Insulet from a “market perform” rating to an “outperform” rating in a research report on Monday. Finally, Leerink Swann reiterated an “outperform” rating and set a $74.00 price objective (up previously from $65.00) on shares of Insulet in a research report on Thursday, October 12th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and twelve have assigned a buy rating to the company. Insulet has a consensus rating of “Buy” and a consensus price target of $62.53.
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Insulet Corporation is engaged in the development, manufacturing and sale of the OmniPod Insulin Management System (the OmniPod System), an insulin delivery system for people with insulin-dependent diabetes. The Omnipod System features a self-adhesive disposable tubeless Omnipod device, which is worn on the body for approximately three days at a time and its wireless companion, the handheld Personal Diabetes Manager (PDM).
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