Readystate Asset Management LP Trims Holdings in Insulet Co. (NASDAQ:PODD)

Readystate Asset Management LP lessened its stake in shares of Insulet Co. (NASDAQ:PODD - Free Report) by 17.6% in the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 9,994 shares of the medical instruments supplier's stock after selling 2,135 shares during the period. Readystate Asset Management LP's holdings in Insulet were worth $2,326,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in PODD. Integrated Wealth Concepts LLC grew its stake in Insulet by 1.7% during the third quarter. Integrated Wealth Concepts LLC now owns 2,561 shares of the medical instruments supplier's stock valued at $596,000 after acquiring an additional 42 shares in the last quarter. Glenmede Trust Co. NA grew its stake in Insulet by 2.3% during the third quarter. Glenmede Trust Co. NA now owns 2,080 shares of the medical instruments supplier's stock valued at $484,000 after acquiring an additional 47 shares in the last quarter. Wedmont Private Capital grew its stake in Insulet by 3.5% during the third quarter. Wedmont Private Capital now owns 1,433 shares of the medical instruments supplier's stock valued at $326,000 after acquiring an additional 48 shares in the last quarter. OVERSEA CHINESE BANKING Corp Ltd lifted its position in Insulet by 4.7% during the third quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 1,076 shares of the medical instruments supplier's stock valued at $250,000 after purchasing an additional 48 shares during the last quarter. Finally, Blue Trust Inc. lifted its position in Insulet by 84.1% during the third quarter. Blue Trust Inc. now owns 127 shares of the medical instruments supplier's stock valued at $30,000 after purchasing an additional 58 shares during the last quarter.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on PODD shares. Piper Sandler lifted their target price 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. Citigroup boosted their price objective on shares of Insulet from $250.00 to $275.00 and gave the stock a "buy" rating in a report on Tuesday, October 1st. UBS Group boosted their price objective on shares of Insulet from $211.00 to $223.00 and gave the stock a "neutral" rating in a report on Friday, August 9th. BTIG Research boosted their price objective on shares of Insulet from $260.00 to $270.00 and gave the stock a "buy" rating in a report on Friday, November 8th. Finally, Barclays boosted their price objective on shares of Insulet from $220.00 to $234.00 and gave the stock an "equal weight" rating in a report on Monday, November 11th. Three equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $253.27.

Insulet Stock Performance

Shares of NASDAQ:PODD traded up $0.24 during trading on Thursday, hitting $269.45. The company's stock had a trading volume of 246,313 shares, compared to its average volume of 765,414. The company has a 50-day moving average of $246.17 and a 200-day moving average of $215.90. Insulet Co. has a 12 month low of $160.19 and a 12 month high of $279.40. The company has a debt-to-equity ratio of 1.21, a current ratio of 3.68 and a quick ratio of 2.80. The firm has a market cap of $18.90 billion, a price-to-earnings ratio of 46.10, a P/E/G ratio of 4.12 and a beta of 1.21.

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.