PDT Partners LLC Sells 10,800 Shares of Insulet Co. (NASDAQ:PODD)

PDT Partners LLC trimmed its stake in Insulet Co. (NASDAQ:PODD) by 33.4% in the third quarter, Holdings Channel reports. The firm owned 21,492 shares of the medical instruments supplier’s stock after selling 10,800 shares during the quarter. Insulet comprises approximately 0.4% of PDT Partners LLC’s investment portfolio, making the stock its 27th biggest position. PDT Partners LLC’s holdings in Insulet were worth $5,002,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Baillie Gifford & Co. raised its holdings in shares of Insulet by 20.7% in the 3rd quarter. Baillie Gifford & Co. now owns 2,275,701 shares of the medical instruments supplier’s stock valued at $529,669,000 after purchasing an additional 389,639 shares during the period. Clearbridge Investments LLC raised its stake in Insulet by 6.0% in the second quarter. Clearbridge Investments LLC now owns 1,339,763 shares of the medical instruments supplier’s stock valued at $270,364,000 after buying an additional 75,526 shares during the period. American Century Companies Inc. lifted its position in shares of Insulet by 18.7% in the second 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 during the last quarter. Westfield Capital Management Co. LP boosted its stake in shares of Insulet by 27.6% during the 3rd quarter. Westfield Capital Management Co. LP now owns 754,872 shares of the medical instruments supplier’s stock worth $175,697,000 after acquiring an additional 163,388 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its holdings in shares of Insulet by 43.8% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 636,265 shares of the medical instruments supplier’s stock worth $148,091,000 after acquiring an additional 193,839 shares during the last quarter.

Insulet Stock Performance

PODD opened at $266.78 on Friday. The firm has a market cap of $18.71 billion, a P/E ratio of 45.68, a price-to-earnings-growth ratio of 4.08 and a beta of 1.22. The business’s fifty day moving average is $243.79 and its 200-day moving average is $213.11. Insulet Co. has a 52-week low of $160.19 and a 52-week high of $279.40. The company has a debt-to-equity ratio of 1.21, a quick ratio of 2.80 and a current ratio of 3.68.

Wall Street Analysts Forecast Growth

PODD has been the subject of several research reports. UBS Group raised their price target on Insulet from $211.00 to $223.00 and gave the company a “neutral” rating in a report on Friday, August 9th. Piper Sandler raised their target price 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. Sanford C. Bernstein started coverage on shares of Insulet in a research note on Wednesday, November 6th. They issued an “outperform” rating and a $300.00 price target on the stock. Morgan Stanley raised their price objective on shares of Insulet from $234.00 to $317.00 and gave the stock an “overweight” rating in a research report on Monday, November 11th. Finally, Barclays upped their target price on Insulet from $220.00 to $234.00 and gave the company 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, Insulet currently has an average rating of “Moderate Buy” and an average price target of $253.27.

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.