Candriam S.C.A. Trims Stock Position in Insulet Corporation $PODD

Candriam S.C.A. lessened its stake in Insulet Corporation (NASDAQ:PODD) by 52.7% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 36,277 shares of the medical instruments supplier’s stock after selling 40,485 shares during the quarter. Candriam S.C.A.’s holdings in Insulet were worth $11,200,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of PODD. True Wealth Design LLC raised its position in Insulet by 288.0% during the third quarter. True Wealth Design LLC now owns 97 shares of the medical instruments supplier’s stock valued at $30,000 after acquiring an additional 72 shares in the last quarter. Golden State Wealth Management LLC grew its stake in shares of Insulet by 202.9% during the 2nd quarter. Golden State Wealth Management LLC now owns 103 shares of the medical instruments supplier’s stock worth $32,000 after purchasing an additional 69 shares during the period. Trust Co. of Toledo NA OH purchased a new position in shares of Insulet during the 2nd quarter valued at approximately $35,000. Whittier Trust Co. of Nevada Inc. increased its holdings in shares of Insulet by 48.9% during the 3rd quarter. Whittier Trust Co. of Nevada Inc. now owns 131 shares of the medical instruments supplier’s stock valued at $40,000 after purchasing an additional 43 shares in the last quarter. Finally, Quent Capital LLC acquired a new position in shares of Insulet in the 3rd quarter valued at $49,000.

Wall Street Analyst Weigh In

PODD has been the topic of several analyst reports. Wells Fargo & Company raised their price target on shares of Insulet from $350.00 to $360.00 and gave the company an “overweight” rating in a research report on Friday, November 7th. Jefferies Financial Group raised their target price on Insulet from $375.00 to $400.00 and gave the company a “buy” rating in a research report on Thursday, November 6th. Evercore initiated coverage on Insulet in a report on Tuesday, December 16th. They issued an “outperform” rating and a $370.00 price target for the company. Royal Bank Of Canada increased their price target on Insulet from $370.00 to $380.00 and gave the stock an “outperform” rating in a research report on Friday, November 21st. Finally, Barclays boosted their price objective on Insulet from $300.00 to $301.00 and gave the company an “equal weight” rating in a research report on Wednesday, November 5th. Twenty analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $374.10.

Insulet Stock Up 2.8%

Shares of NASDAQ PODD opened at $252.41 on Wednesday. The firm has a market cap of $17.76 billion, a price-to-earnings ratio of 73.16, a price-to-earnings-growth ratio of 1.39 and a beta of 1.41. The company’s 50-day simple moving average is $281.06 and its 200-day simple moving average is $307.47. The company has a quick ratio of 2.18, a current ratio of 2.87 and a debt-to-equity ratio of 0.68. Insulet Corporation has a 52-week low of $230.05 and a 52-week high of $354.88.

About Insulet

Insulet Corporation is a medical device company headquartered in Acton, Massachusetts, that develops, manufactures and sells insulin-delivery systems for people with diabetes. The company’s core business is the design and commercialization of its Omnipod family of tubeless, wearable insulin pumps and the consumable Pods that deliver insulin. Insulet’s products aim to simplify insulin delivery for people with type 1 diabetes and insulin-requiring type 2 diabetes by offering an alternative to traditional insulin pens and tethered pump systems.

The company’s product portfolio includes the Omnipod System line—disposable, waterproof Pods that adhere to the skin and deliver insulin—and the associated controllers and mobile applications used to program and monitor insulin delivery.