Plato Investment Management Ltd Sells 1,651 Shares of Insulet Co. (NASDAQ:PODD)

Plato Investment Management Ltd lowered its holdings in shares of Insulet Co. (NASDAQ:PODD) by 35.7% in the third quarter, according to its most recent disclosure with the SEC. The firm owned 2,968 shares of the medical instruments supplier’s stock after selling 1,651 shares during the period. Plato Investment Management Ltd’s holdings in Insulet were worth $690,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of PODD. Sei Investments Co. grew its holdings in Insulet by 16.2% during the first quarter. Sei Investments Co. now owns 11,782 shares of the medical instruments supplier’s stock worth $2,019,000 after purchasing an additional 1,639 shares during the period. State Board of Administration of Florida Retirement System boosted its holdings in shares of Insulet by 3.8% during the first quarter. State Board of Administration of Florida Retirement System now owns 78,435 shares of the medical instruments supplier’s stock worth $13,444,000 after acquiring an additional 2,847 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. boosted its holdings in shares of Insulet by 22.3% during the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 78,391 shares of the medical instruments supplier’s stock worth $13,436,000 after acquiring an additional 14,289 shares during the period. Mitsubishi UFJ Trust & Banking Corp boosted its holdings in shares of Insulet by 246.2% during 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 period. Finally, Intech Investment Management LLC boosted its holdings in shares of Insulet by 113.8% during the first quarter. Intech Investment Management LLC now owns 6,649 shares of the medical instruments supplier’s stock worth $1,140,000 after acquiring an additional 3,539 shares during the period.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the company. Canaccord Genuity Group boosted their price objective on Insulet from $236.00 to $269.00 and gave the stock a “buy” rating in a report on Wednesday, September 25th. UBS Group boosted their price objective on Insulet from $211.00 to $223.00 and gave the stock a “neutral” rating in a report on Friday, August 9th. Citigroup lifted their price target 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. Raymond James lifted their price target on shares of Insulet from $213.00 to $260.00 and gave the company an “outperform” rating in a research report on Monday, October 14th. 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 research report on Tuesday, September 17th. Three research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Insulet presently has an average rating of “Moderate Buy” and a consensus target price of $253.27.

Insulet Stock Down 2.9 %

Shares of PODD opened at $261.16 on Friday. The firm has a 50 day simple moving average of $236.86 and a two-hundred day simple moving average of $206.85. The company has a market cap of $18.32 billion, a P/E ratio of 44.72, a P/E/G ratio of 4.11 and a beta of 1.22. The company has a debt-to-equity ratio of 1.21, a current ratio of 3.68 and a quick ratio of 2.80. Insulet Co. has a one year low of $160.19 and a one year high of $279.40.

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.