Fred Alger Management LLC trimmed its position in shares of Insulet Co. (NASDAQ:PODD - Free Report) by 60.4% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 19,943 shares of the medical instruments supplier's stock after selling 30,385 shares during the period. Fred Alger Management LLC's holdings in Insulet were worth $4,642,000 as of its most recent SEC filing.
A number of other hedge funds also recently bought and sold shares of the company. Blue Trust Inc. raised its stake in shares of Insulet by 84.1% during the third quarter. Blue Trust Inc. now owns 127 shares of the medical instruments supplier's stock worth $30,000 after acquiring an additional 58 shares in the last quarter. Venturi Wealth Management LLC lifted its stake in Insulet by 633.3% in the third quarter. Venturi Wealth Management LLC now owns 154 shares of the medical instruments supplier's stock worth $36,000 after purchasing an additional 133 shares during the last quarter. International Assets Investment Management LLC purchased a new stake in Insulet during the second quarter valued at about $32,000. UMB Bank n.a. grew its stake in shares of Insulet by 81.0% during the second quarter. UMB Bank n.a. now owns 181 shares of the medical instruments supplier's stock valued at $37,000 after buying an additional 81 shares during the last quarter. Finally, CVA Family Office LLC grew its stake in shares of Insulet by 138.1% during the second quarter. CVA Family Office LLC now owns 250 shares of the medical instruments supplier's stock valued at $50,000 after buying an additional 145 shares during the last quarter.
Analyst Upgrades and Downgrades
PODD has been the subject of several analyst reports. Canaccord Genuity Group increased their target price on Insulet from $236.00 to $269.00 and gave the company a "buy" rating in a report on Wednesday, September 25th. Barclays increased their price objective on Insulet from $220.00 to $234.00 and gave the company an "equal weight" rating in a research note on Monday, November 11th. Morgan Stanley lifted their target price on shares of Insulet from $234.00 to $317.00 and gave the stock an "overweight" rating in a research note on Monday, November 11th. Piper Sandler increased their price target on shares of Insulet from $230.00 to $285.00 and gave the company an "overweight" rating in a research report on Tuesday, September 17th. Finally, BTIG Research boosted their price objective on shares of Insulet from $260.00 to $270.00 and gave the company a "buy" rating in a research report on Friday, November 8th. Three analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $253.27.
Read Our Latest Analysis on Insulet
Insulet Stock Down 0.1 %
Insulet stock traded down $0.14 during trading hours on Friday, hitting $266.78. 250,910 shares of the stock traded hands, compared to its average volume of 625,543. Insulet Co. has a one year low of $160.19 and a one year high of $279.40. The company has a market cap of $18.71 billion, a PE ratio of 45.68, a PEG ratio of 4.08 and a beta of 1.22. The firm's 50-day moving average price is $244.40 and its two-hundred day moving average price is $214.14. 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 Profile
(
Free Report)
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.
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