Bank of Montreal Can Grows Position in Insulet Co. (NASDAQ:PODD)

Bank of Montreal Can raised its holdings in shares of Insulet Co. (NASDAQ:PODD - Free Report) by 9.0% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 120,701 shares of the medical instruments supplier's stock after buying an additional 9,991 shares during the quarter. Bank of Montreal Can owned about 0.17% of Insulet worth $28,006,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the business. Tidal Investments LLC grew its stake in Insulet by 58.8% during the 1st quarter. Tidal Investments LLC now owns 4,064 shares of the medical instruments supplier's stock valued at $697,000 after acquiring an additional 1,504 shares in the last quarter. iA Global Asset Management Inc. acquired a new stake in shares of Insulet in the first quarter valued at approximately $105,000. Swedbank AB purchased a new position in Insulet during the first quarter worth approximately $6,903,000. Teachers Retirement System of The State of Kentucky boosted its stake in Insulet by 23.9% during the first quarter. Teachers Retirement System of The State of Kentucky now owns 35,035 shares of the medical instruments supplier's stock worth $6,006,000 after buying an additional 6,754 shares during the last quarter. Finally, DekaBank Deutsche Girozentrale boosted its stake in Insulet by 7.1% during the first quarter. DekaBank Deutsche Girozentrale now owns 11,607 shares of the medical instruments supplier's stock worth $1,996,000 after buying an additional 770 shares during the last quarter.

Wall Street Analyst Weigh In

PODD has been the topic of several analyst reports. Morgan Stanley lifted their price target on Insulet from $234.00 to $317.00 and gave the stock an "overweight" rating in a report on Monday, November 11th. Barclays lifted their target price on shares of Insulet from $220.00 to $234.00 and gave the stock an "equal weight" rating in a research note on Monday, November 11th. Citigroup increased their price target on shares of Insulet from $250.00 to $275.00 and gave the company a "buy" rating in a research note on Tuesday, October 1st. UBS Group lifted their price target on shares of Insulet from $211.00 to $223.00 and gave the company a "neutral" rating in a research report on Friday, August 9th. Finally, Canaccord Genuity Group increased their price objective on Insulet from $236.00 to $269.00 and gave the stock a "buy" rating in a research report on Wednesday, September 25th. Three equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $253.27.

Insulet Stock Down 0.1 %

Insulet stock traded down $0.14 during mid-day trading on Friday, reaching $266.78. 250,910 shares of the company's stock were exchanged, compared to its average volume of 770,058. The company has a quick ratio of 2.80, a current ratio of 3.68 and a debt-to-equity ratio of 1.21. Insulet Co. has a twelve month low of $160.19 and a twelve month high of $279.40. The company has a market cap of $18.71 billion, a P/E ratio of 45.68, a P/E/G ratio of 4.08 and a beta of 1.22. The company has a fifty day moving average of $244.40 and a 200-day moving average of $213.85.

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.