HighTower Advisors LLC Trims Holdings in Insulet Co. (NASDAQ:PODD)

HighTower Advisors LLC cut its position in shares of Insulet Co. (NASDAQ:PODD) by 5.3% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,991 shares of the medical instruments supplier’s stock after selling 166 shares during the quarter. HighTower Advisors LLC’s holdings in Insulet were worth $694,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the company. Hilltop Holdings Inc. boosted its position in Insulet by 27.5% during the third quarter. Hilltop Holdings Inc. now owns 2,850 shares of the medical instruments supplier’s stock worth $663,000 after acquiring an additional 615 shares during the last quarter. Holocene Advisors LP lifted its stake in shares of Insulet by 1.0% during the 3rd quarter. Holocene Advisors LP now owns 14,986 shares of the medical instruments supplier’s stock worth $3,488,000 after purchasing an additional 154 shares during the period. American Capital Management Inc. boosted its holdings in shares of Insulet by 27.6% during the third quarter. American Capital Management Inc. now owns 14,800 shares of the medical instruments supplier’s stock worth $3,445,000 after purchasing an additional 3,197 shares during the last quarter. Caisse DE Depot ET Placement DU Quebec purchased a new stake in shares of Insulet in the third quarter valued at $16,342,000. Finally, Captrust Financial Advisors grew its position in shares of Insulet by 5.1% in the third quarter. Captrust Financial Advisors now owns 1,760 shares of the medical instruments supplier’s stock valued at $410,000 after purchasing an additional 86 shares during the period.

Insulet Stock Down 2.6 %

Shares of Insulet stock opened at $256.44 on Thursday. The company has a fifty day moving average price of $253.30 and a 200 day moving average price of $222.13. The company has a current ratio of 3.68, a quick ratio of 2.80 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 $279.77. The stock has a market cap of $17.99 billion, a price-to-earnings ratio of 43.91, a price-to-earnings-growth ratio of 4.12 and a beta of 1.21.

Insider Transactions at Insulet

In related news, CAO Lauren Budden sold 915 shares of the firm’s stock in a transaction dated Tuesday, December 10th. The stock was sold at an average price of $275.62, for a total transaction of $252,192.30. Following the sale, the chief accounting officer now directly owns 5,733 shares in the company, valued at approximately $1,580,129.46. This trade represents a 13.76 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 0.47% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently weighed in on PODD shares. Canaccord Genuity Group increased their target price on Insulet from $269.00 to $304.00 and gave the stock a “buy” rating in a research report on Monday, December 9th. Citigroup increased their price objective on shares of Insulet from $283.00 to $310.00 and gave the stock a “buy” rating in a report on Wednesday, December 11th. Raymond James boosted their target price on shares of Insulet from $213.00 to $260.00 and gave the company an “outperform” rating in a report on Monday, October 14th. Wells Fargo & Company upped their price target on shares of Insulet from $290.00 to $305.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 11th. Finally, Piper Sandler lifted their price target on shares of Insulet from $230.00 to $285.00 and gave the company an “overweight” rating in a report on Tuesday, September 17th. Three equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price 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.