Independent Advisor Alliance Takes Position in Insulet Co. (NASDAQ:PODD)

Independent Advisor Alliance bought a new position in shares of Insulet Co. (NASDAQ:PODD) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 1,141 shares of the medical instruments supplier’s stock, valued at approximately $266,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Blue Trust Inc. increased its position in shares of Insulet by 84.1% during the 3rd 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 period. International Assets Investment Management LLC acquired a new position in Insulet during the second quarter worth about $32,000. Venturi Wealth Management LLC raised its position 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 acquiring an additional 133 shares in the last quarter. UMB Bank n.a. lifted its holdings in Insulet by 81.0% in the 2nd quarter. UMB Bank n.a. now owns 181 shares of the medical instruments supplier’s stock valued at $37,000 after acquiring an additional 81 shares during the last quarter. Finally, CVA Family Office LLC boosted its position in shares of Insulet by 138.1% during the 2nd quarter. CVA Family Office LLC now owns 250 shares of the medical instruments supplier’s stock valued at $50,000 after purchasing an additional 145 shares in the last quarter.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the stock. Barclays boosted their target price 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. Canaccord Genuity Group upped their price target on Insulet from $236.00 to $269.00 and gave the company a “buy” rating in a report on Wednesday, September 25th. BTIG Research increased their price objective on Insulet from $260.00 to $270.00 and gave the company a “buy” rating in a research report on Friday, November 8th. Citigroup lifted their target price on Insulet from $250.00 to $275.00 and gave the stock a “buy” rating in a report on Tuesday, October 1st. Finally, Raymond James boosted their target price on Insulet from $213.00 to $260.00 and gave the stock an “outperform” rating in a research report on Monday, October 14th. Three analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $253.27.

Insulet Stock Performance

PODD stock opened at $266.92 on Friday. The firm has a 50 day simple moving average of $243.21 and a 200 day simple moving average of $212.74. Insulet Co. has a 52 week low of $160.19 and a 52 week high of $279.40. The stock has a market cap of $18.72 billion, a P/E ratio of 45.71, a P/E/G ratio of 4.08 and a beta of 1.22. The company has a debt-to-equity ratio of 1.21, a quick ratio of 2.80 and a current ratio of 3.68.

About Insulet

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.