Empowered Funds LLC Invests $220,000 in Insulet Co. (NASDAQ:PODD)

Empowered Funds LLC purchased a new stake in Insulet Co. (NASDAQ:PODD) during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 946 shares of the medical instruments supplier’s stock, valued at approximately $220,000.

Several other large investors have also recently bought and sold shares of the stock. Baillie Gifford & Co. boosted its holdings in shares of Insulet by 20.7% during the third quarter. Baillie Gifford & Co. now owns 2,275,701 shares of the medical instruments supplier’s stock worth $529,669,000 after acquiring an additional 389,639 shares during the period. Clearbridge Investments LLC boosted its stake in Insulet by 6.0% in the 2nd quarter. Clearbridge Investments LLC now owns 1,339,763 shares of the medical instruments supplier’s stock valued at $270,364,000 after purchasing an additional 75,526 shares during the period. American Century Companies Inc. grew its holdings in Insulet by 18.7% in the 2nd quarter. American Century Companies Inc. now owns 885,669 shares of the medical instruments supplier’s stock valued at $178,728,000 after buying an additional 139,246 shares in the last quarter. Marshall Wace LLP bought a new position in Insulet during the 2nd quarter worth $99,978,000. Finally, Federated Hermes Inc. increased its position in Insulet by 38.8% during the 2nd quarter. Federated Hermes Inc. now owns 369,113 shares of the medical instruments supplier’s stock worth $74,487,000 after buying an additional 103,266 shares during the period.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on PODD shares. Citigroup boosted their target price on shares of Insulet from $250.00 to $275.00 and gave the company a “buy” rating in a research report on Tuesday, October 1st. Morgan Stanley boosted their price objective on shares of Insulet from $234.00 to $317.00 and gave the company an “overweight” rating in a report on Monday, November 11th. Canaccord Genuity Group raised their target price on shares of Insulet from $236.00 to $269.00 and gave the stock a “buy” rating in a report on Wednesday, September 25th. BTIG Research lifted their price target on shares of Insulet from $260.00 to $270.00 and gave the company a “buy” rating in a research report on Friday, November 8th. Finally, Barclays increased their price target on Insulet from $220.00 to $234.00 and gave the stock an “equal weight” rating in a research report on Monday, November 11th. Three analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $253.27.

Insulet Price Performance

Shares of PODD stock opened at $266.42 on Wednesday. The business has a fifty day simple moving average of $241.97 and a 200 day simple moving average of $211.65. The company has a market cap of $18.69 billion, a P/E ratio of 45.62, a P/E/G ratio of 4.02 and a beta of 1.22. The company has a quick ratio of 2.80, a current ratio of 3.68 and a debt-to-equity ratio of 1.21. Insulet Co. has a twelve month low of $160.19 and a twelve month high of $279.40.

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.