Janney Montgomery Scott LLC Increases Stock Holdings in Insulet Co. (NASDAQ:PODD)

Janney Montgomery Scott LLC lifted its position in shares of Insulet Co. (NASDAQ:PODD) by 7.5% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 5,661 shares of the medical instruments supplier’s stock after acquiring an additional 394 shares during the period. Janney Montgomery Scott LLC’s holdings in Insulet were worth $1,318,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the business. Diversified Trust Co lifted its holdings in shares of Insulet by 90.9% in the second quarter. Diversified Trust Co now owns 9,130 shares of the medical instruments supplier’s stock valued at $1,842,000 after purchasing an additional 4,348 shares in the last quarter. Natixis acquired a new stake in Insulet during the 1st quarter valued at $3,610,000. Intech Investment Management LLC grew its holdings in Insulet by 113.8% during the 1st quarter. Intech Investment Management LLC now owns 6,649 shares of the medical instruments supplier’s stock valued at $1,140,000 after buying an additional 3,539 shares during the last quarter. Seven Eight Capital LP purchased a new position in Insulet during the first quarter worth $1,418,000. Finally, Mitsubishi UFJ Trust & Banking Corp raised its holdings in shares of Insulet by 246.2% in the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 135,547 shares of the medical instruments supplier’s stock worth $23,168,000 after acquiring an additional 96,390 shares during the last quarter.

Wall Street Analyst Weigh In

A number of research firms recently commented on PODD. Canaccord Genuity Group increased their price objective on Insulet from $236.00 to $269.00 and gave the company a “buy” rating in a research note on Wednesday, September 25th. Sanford C. Bernstein assumed coverage on shares of Insulet in a report on Wednesday, November 6th. They set an “outperform” rating and a $300.00 price target for the company. Piper Sandler upped their price objective on shares of Insulet from $230.00 to $285.00 and gave the company an “overweight” rating in a research note on Tuesday, September 17th. Morgan Stanley lifted 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, Raymond James increased their price target on Insulet from $213.00 to $260.00 and gave the stock an “outperform” rating in a research note on Monday, October 14th. Three analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $253.27.

Insulet Stock Down 2.9 %

PODD opened at $261.16 on Friday. Insulet Co. has a 1 year low of $160.19 and a 1 year high of $279.40. The firm has a 50 day moving average price of $236.86 and a 200 day moving average price of $206.85. The company has a debt-to-equity ratio of 1.21, a quick ratio of 2.80 and a current ratio of 3.68. The company has a market cap of $18.32 billion, a PE ratio of 44.72, a price-to-earnings-growth ratio of 4.26 and a beta of 1.22.

Insulet 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.