Van ECK Associates Corp Cuts Position in Insulet Co. (NASDAQ:PODD)

Van ECK Associates Corp trimmed its position in shares of Insulet Co. (NASDAQ:PODD) by 24.0% during the third quarter, Holdings Channel reports. The firm owned 5,008 shares of the medical instruments supplier’s stock after selling 1,585 shares during the quarter. Van ECK Associates Corp’s holdings in Insulet were worth $1,176,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of PODD. Blue Trust Inc. lifted its stake in Insulet by 84.1% during the 3rd quarter. Blue Trust Inc. now owns 127 shares of the medical instruments supplier’s stock worth $30,000 after acquiring an additional 58 shares in the last quarter. International Assets Investment Management LLC acquired a new stake in shares of Insulet during the second quarter worth about $32,000. UMB Bank n.a. boosted its stake in shares of Insulet by 81.0% in the second quarter. UMB Bank n.a. now owns 181 shares of the medical instruments supplier’s stock valued at $37,000 after purchasing an additional 81 shares during the period. CVA Family Office LLC grew its holdings in shares of Insulet by 138.1% in the second 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. Finally, Massmutual Trust Co. FSB ADV increased its stake in Insulet by 159.2% during the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 254 shares of the medical instruments supplier’s stock worth $51,000 after buying an additional 156 shares during the period.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the stock. Canaccord Genuity Group raised their price target on shares of Insulet from $236.00 to $269.00 and gave the company a “buy” rating in a research report on Wednesday, September 25th. UBS Group upped their price target on Insulet from $211.00 to $223.00 and gave the stock a “neutral” rating in a report on Friday, August 9th. Citigroup lifted their price objective on Insulet from $250.00 to $275.00 and gave the company a “buy” rating in a research note on Tuesday, October 1st. Morgan Stanley upped their target price on shares of Insulet from $234.00 to $317.00 and gave the stock an “overweight” rating in a research note on Monday. Finally, Piper Sandler lifted their price target on shares of Insulet from $230.00 to $285.00 and gave the stock an “overweight” rating in a research note on Tuesday, September 17th. Three 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 an average rating of “Moderate Buy” and a consensus target price of $253.27.

Insulet Trading Up 2.9 %

NASDAQ:PODD opened at $275.70 on Tuesday. The company has a quick ratio of 2.71, a current ratio of 3.60 and a debt-to-equity ratio of 1.36. Insulet Co. has a 52-week low of $156.00 and a 52-week high of $279.40. The stock’s 50 day moving average price is $233.46 and its 200 day moving average price is $205.26. The company has a market capitalization of $19.33 billion, a PE ratio of 47.21, a P/E/G ratio of 5.00 and a beta of 1.22.

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.