Kentucky Retirement Systems Insurance Trust Fund Trims Stake in Insulet Co. (NASDAQ:PODD)

Kentucky Retirement Systems Insurance Trust Fund lessened its holdings in Insulet Co. (NASDAQ:PODD) by 8.1% during the third quarter, HoldingsChannel reports. The institutional investor owned 2,076 shares of the medical instruments supplier’s stock after selling 183 shares during the quarter. Kentucky Retirement Systems Insurance Trust Fund’s holdings in Insulet were worth $483,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in the business. Blue Trust Inc. increased its stake in Insulet by 84.1% in 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 during the last quarter. International Assets Investment Management LLC purchased a new position in shares of Insulet during the second quarter worth about $32,000. Venturi Wealth Management LLC increased its position in shares of Insulet by 633.3% in the third quarter. Venturi Wealth Management LLC now owns 154 shares of the medical instruments supplier’s stock worth $36,000 after purchasing an additional 133 shares during the last quarter. UMB Bank n.a. raised its stake in 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 in the last quarter. Finally, CVA Family Office LLC lifted its position in Insulet by 138.1% during 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 during the last quarter.

Insulet Trading Up 0.2 %

NASDAQ:PODD opened at $260.68 on Tuesday. The firm has a market capitalization of $18.28 billion, a P/E ratio of 44.64, a P/E/G ratio of 3.98 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. The company has a fifty day moving average of $238.60 and a 200 day moving average of $208.60. Insulet Co. has a 52 week low of $160.19 and a 52 week high of $279.40.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the stock. Piper Sandler increased their price target on shares of Insulet from $230.00 to $285.00 and gave the stock an “overweight” rating in a report on Tuesday, September 17th. BTIG Research increased their target price on Insulet from $260.00 to $270.00 and gave the company a “buy” rating in a research note on Friday, November 8th. Sanford C. Bernstein began coverage on Insulet in a research note on Wednesday, November 6th. They set an “outperform” rating and a $300.00 price target for the company. 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 report on Wednesday, September 25th. Finally, Morgan Stanley boosted their target price on Insulet from $234.00 to $317.00 and gave the stock an “overweight” 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 company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $253.27.

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.