Insulet Co. (NASDAQ:PODD) Position Reduced by HighTower Advisors LLC

HighTower Advisors LLC lowered its stake in Insulet Co. (NASDAQ:PODD) by 5.3% in the 3rd quarter, Holdings Channel.com reports. The firm owned 2,991 shares of the medical instruments supplier’s stock after selling 166 shares during the period. HighTower Advisors LLC’s holdings in Insulet were worth $694,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. QRG Capital Management Inc. acquired a new position in Insulet in the third quarter worth about $297,000. Fisher Asset Management LLC increased its holdings in shares of Insulet by 0.9% in the 3rd quarter. Fisher Asset Management LLC now owns 351,100 shares of the medical instruments supplier’s stock valued at $81,719,000 after acquiring an additional 3,113 shares during the last quarter. Point72 DIFC Ltd bought a new stake in shares of Insulet in the 2nd quarter valued at approximately $554,000. GSA Capital Partners LLP acquired a new stake in shares of Insulet during the 3rd quarter valued at approximately $1,017,000. Finally, LMR Partners LLP bought a new position in Insulet during the third quarter worth $3,517,000.

Insider Buying and Selling at Insulet

In related news, CAO Lauren Budden sold 915 shares of the firm’s stock in a transaction that occurred on Tuesday, December 10th. The shares were sold at an average price of $275.62, for a total transaction of $252,192.30. Following the transaction, the chief accounting officer now 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 Securities & Exchange Commission, which is available through the SEC website. 0.47% of the stock is owned by corporate insiders.

Insulet Price Performance

Shares of NASDAQ PODD opened at $256.44 on Thursday. The stock has a market cap of $17.99 billion, a P/E ratio of 43.91, a P/E/G ratio of 4.12 and a beta of 1.21. The firm’s 50-day simple moving average is $253.30 and its 200 day simple moving average is $222.13. Insulet Co. has a fifty-two week low of $160.19 and a fifty-two week high of $279.77. The company has a quick ratio of 2.80, a current ratio of 3.68 and a debt-to-equity ratio of 1.21.

Wall Street Analyst Weigh In

PODD has been the subject of several recent research reports. BTIG Research boosted their target price on shares of Insulet from $260.00 to $270.00 and gave the company a “buy” rating in a research note on Friday, November 8th. Raymond James boosted their price objective on shares of Insulet from $213.00 to $260.00 and gave the company an “outperform” rating in a research report on Monday, October 14th. Barclays raised 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. Piper Sandler upped their target price on Insulet from $230.00 to $285.00 and gave the company an “overweight” rating in a report on Tuesday, September 17th. Finally, Morgan Stanley raised 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. Three investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat, Insulet presently has an average rating of “Moderate Buy” and a consensus price target of $267.44.

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.