Insulet Co. (NASDAQ:PODD) Stake Raised by Geode Capital Management LLC

Geode Capital Management LLC lifted its position in shares of Insulet Co. (NASDAQ:PODD - Free Report) by 1.3% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,738,601 shares of the medical instruments supplier's stock after purchasing an additional 22,850 shares during the period. Geode Capital Management LLC owned about 2.48% of Insulet worth $403,339,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Blue Trust Inc. lifted its holdings in Insulet by 84.1% in the 3rd quarter. Blue Trust Inc. now owns 127 shares of the medical instruments supplier's stock worth $30,000 after buying an additional 58 shares in the last quarter. International Assets Investment Management LLC purchased a new position in Insulet in the second quarter valued at about $32,000. Venturi Wealth Management LLC grew its stake in Insulet by 633.3% during the 3rd quarter. Venturi Wealth Management LLC now owns 154 shares of the medical instruments supplier's stock valued at $36,000 after purchasing an additional 133 shares in the last quarter. UMB Bank n.a. increased its holdings in Insulet by 81.0% during the 2nd quarter. UMB Bank n.a. now owns 181 shares of the medical instruments supplier's stock worth $37,000 after purchasing an additional 81 shares during the last quarter. Finally, 1620 Investment Advisors Inc. acquired a new position in shares of Insulet in the 2nd quarter valued at approximately $52,000.

Insulet Stock Performance

Shares of PODD traded down $2.39 during mid-day trading on Friday, reaching $269.34. 571,633 shares of the company's stock traded hands, compared to its average volume of 762,207. Insulet Co. has a 12 month low of $160.19 and a 12 month high of $279.77. The stock has a market capitalization of $18.89 billion, a P/E ratio of 46.12, a price-to-earnings-growth ratio of 4.18 and a beta of 1.21. The business's 50-day moving average price is $251.37 and its 200-day moving average price is $220.31. 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 Upgrades and Downgrades

A number of analysts have recently weighed in on PODD shares. Raymond James raised their price target on shares of Insulet from $213.00 to $260.00 and gave the stock an "outperform" rating in a research report on Monday, October 14th. Morgan Stanley upped their target price on shares of Insulet from $234.00 to $317.00 and gave the company 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 stock an "overweight" rating in a research report on Tuesday, September 17th. JPMorgan Chase & Co. boosted their price target on Insulet from $280.00 to $330.00 and gave the company an "overweight" rating in a report on Thursday. Finally, Canaccord Genuity Group raised their price objective on Insulet from $269.00 to $304.00 and gave the stock a "buy" rating in a research note on Monday, December 9th. Three investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $267.44.

Insider Transactions at Insulet

In other news, CAO Lauren Budden sold 915 shares of the stock in a transaction that occurred on Tuesday, December 10th. The shares were sold at an average price of $275.62, for a total value of $252,192.30. Following the completion of the transaction, the chief accounting officer now directly owns 5,733 shares in the company, valued at $1,580,129.46. This trade represents a 13.76 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 0.47% of the company's stock.

Insulet Company Profile

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.