Insider Selling: Insulet CEO Sells 20,000 Shares of Stock (PODD)
Insulet (NASDAQ:PODD) CEO Duane Desisto unloaded 20,000 shares of the stock on the open market in a transaction that occurred on Friday, August 1st. The stock was sold at an average price of $34.23, for a total transaction of $684,600.00. Following the completion of the transaction, the chief executive officer now directly owns 257,184 shares of the company’s stock, valued at approximately $8,803,408. The sale was disclosed in a legal filing with the SEC, which is available at this link.
Several analysts have recently commented on the stock. Analysts at Barrington Research upgraded shares of Insulet from a “market perform” rating to an “outperform” rating in a research note on Thursday, May 15th. They now have a $40.00 price target on the stock. Separately, analysts at Jefferies Group cut their price target on shares of Insulet from $60.00 to $50.00 in a research note on Friday, May 9th. Finally, analysts at Leerink Swann cut their price target on shares of Insulet from $55.00 to $45.00 in a research note on Friday, May 9th. Four investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average target price of $45.73.
Shares of Insulet (NASDAQ:PODD) traded up 0.82% during mid-day trading on Tuesday, hitting $35.49. The stock had a trading volume of 278,018 shares. Insulet has a 52 week low of $30.18 and a 52 week high of $51.31. The stock’s 50-day moving average is $37.92 and its 200-day moving average is $41.01. The company’s market cap is $1.967 billion.
Insulet Corporation is primarily engaged in the development, manufacturing and sale of its OmniPod Insulin Management System (NASDAQ:PODD).
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