Bank of Nova Scotia Reduces Position in Insulet Co. (NASDAQ:PODD)

Bank of Nova Scotia decreased its stake in Insulet Co. (NASDAQ:PODDGet Rating) by 19.5% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,195 shares of the medical instruments supplier’s stock after selling 290 shares during the period. Bank of Nova Scotia’s holdings in Insulet were worth $260,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Institutional & Family Asset Management LLC boosted its holdings in shares of Insulet by 261.3% in the 1st quarter. Institutional & Family Asset Management LLC now owns 112 shares of the medical instruments supplier’s stock valued at $30,000 after buying an additional 81 shares in the last quarter. Quent Capital LLC boosted its holdings in shares of Insulet by 310.7% in the 1st quarter. Quent Capital LLC now owns 115 shares of the medical instruments supplier’s stock valued at $31,000 after buying an additional 87 shares in the last quarter. Wolff Wiese Magana LLC boosted its holdings in shares of Insulet by 153.6% in the 1st quarter. Wolff Wiese Magana LLC now owns 142 shares of the medical instruments supplier’s stock valued at $38,000 after buying an additional 86 shares in the last quarter. Elequin Capital LP acquired a new position in shares of Insulet in the 1st quarter valued at $40,000. Finally, Washington Trust Advisors Inc. boosted its stake in Insulet by 153.7% during the 1st quarter. Washington Trust Advisors Inc. now owns 208 shares of the medical instruments supplier’s stock worth $55,000 after purchasing an additional 126 shares during the period.

Insider Activity

In other Insulet news, EVP Bret Christensen sold 2,900 shares of the firm’s stock in a transaction dated Wednesday, August 24th. The shares were sold at an average price of $264.24, for a total transaction of $766,296.00. Following the completion of the transaction, the executive vice president now directly owns 19,551 shares in the company, valued at approximately $5,166,156.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Insulet news, EVP Bret Christensen sold 2,900 shares of the firm’s stock in a transaction dated Wednesday, August 24th. The shares were sold at an average price of $264.24, for a total transaction of $766,296.00. Following the completion of the transaction, the executive vice president now directly owns 19,551 shares in the company, valued at approximately $5,166,156.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Shacey Petrovic sold 15,000 shares of the firm’s stock in a transaction dated Monday, October 3rd. The shares were sold at an average price of $231.80, for a total transaction of $3,477,000.00. Following the transaction, the director now owns 13,695 shares of the company’s stock, valued at $3,174,501. The disclosure for this sale can be found here. Insiders sold 31,558 shares of company stock worth $8,463,481 in the last 90 days. 0.90% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. Canaccord Genuity Group increased their price target on shares of Insulet from $290.00 to $310.00 and gave the stock a “buy” rating in a research note on Friday, November 4th. Morgan Stanley increased their price target on shares of Insulet from $273.00 to $300.00 and gave the stock an “equal weight” rating in a research note on Friday, November 4th. Canaccord Genuity Group increased their price target on shares of Insulet from $250.00 to $290.00 and gave the stock a “buy” rating in a research note on Friday, August 5th. BTIG Research increased their price target on shares of Insulet from $285.00 to $320.00 in a research note on Friday, November 4th. Finally, StockNews.com upgraded shares of Insulet from a “sell” rating to a “hold” rating in a research note on Wednesday, November 9th. Five analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Insulet presently has an average rating of “Moderate Buy” and a consensus target price of $300.62.

Insulet Stock Performance

Shares of PODD opened at $295.53 on Monday. The company has a 50-day simple moving average of $254.25 and a 200-day simple moving average of $240.47. The company has a quick ratio of 3.00, a current ratio of 3.98 and a debt-to-equity ratio of 3.22. The company has a market capitalization of $20.52 billion, a PE ratio of 1,231.38 and a beta of 0.79. Insulet Co. has a 52-week low of $181.00 and a 52-week high of $320.00.

About Insulet

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Insulet Corporation develops, manufactures, and sells insulin delivery systems for people with insulin-dependent diabetes. It offers Omnipod System, a self-adhesive disposable tubeless Omnipod device that is worn on the body for up to three days at a time, as well as its wireless companion, the handheld personal diabetes manager.

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Institutional Ownership by Quarter for Insulet (NASDAQ:PODD)

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