Empirical Finance LLC Acquires New Position in Insulet Co. (NASDAQ:PODD)

Empirical Finance LLC bought a new position in shares of Insulet Co. (NASDAQ:PODD) in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 1,024 shares of the medical instruments supplier’s stock, valued at approximately $238,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Wedmont Private Capital lifted its stake in Insulet by 3.5% in the third quarter. Wedmont Private Capital now owns 1,433 shares of the medical instruments supplier’s stock valued at $326,000 after buying an additional 48 shares during the period. OVERSEA CHINESE BANKING Corp Ltd grew its holdings in shares of Insulet by 4.7% in the 3rd quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 1,076 shares of the medical instruments supplier’s stock valued at $250,000 after buying an additional 48 shares during the period. Blue Trust Inc. increased its position in shares of Insulet by 84.1% in the 3rd quarter. Blue Trust Inc. now owns 127 shares of the medical instruments supplier’s stock valued at $30,000 after buying an additional 58 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd raised its stake in Insulet by 1.1% during the 2nd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 6,265 shares of the medical instruments supplier’s stock worth $1,264,000 after buying an additional 66 shares during the period. Finally, Greenleaf Trust grew its stake in Insulet by 4.2% in the third quarter. Greenleaf Trust now owns 1,783 shares of the medical instruments supplier’s stock valued at $415,000 after acquiring an additional 72 shares during the period.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the company. BTIG Research lifted their price objective on Insulet from $260.00 to $270.00 and gave the company a “buy” rating in a report on Friday, November 8th. Morgan Stanley lifted their price target on shares of Insulet from $234.00 to $317.00 and gave the company an “overweight” rating in a research note on Monday, November 11th. Barclays increased their price objective on shares of Insulet from $220.00 to $234.00 and gave the stock an “equal weight” rating in a research report on Monday, November 11th. Sanford C. Bernstein began coverage on shares of Insulet in a report on Wednesday, November 6th. They set an “outperform” rating and a $300.00 price objective on the stock. Finally, UBS Group upped their target price on shares of Insulet from $211.00 to $223.00 and gave the stock a “neutral” rating in a research note on Friday, August 9th. Three 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.com, Insulet currently has a consensus rating of “Moderate Buy” and a consensus price target of $253.27.

Insulet Price Performance

PODD stock opened at $260.12 on Monday. Insulet Co. has a 1 year low of $160.19 and a 1 year high of $279.40. The stock has a market capitalization of $18.24 billion, a PE ratio of 44.54, a price-to-earnings-growth ratio of 3.98 and a beta of 1.22. The company’s 50-day moving average is $237.77 and its 200-day moving average is $207.98. 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 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.