SG Americas Securities LLC Boosts Stake in Insulet Co. (PODD)
SG Americas Securities LLC grew its position in shares of Insulet Co. (NASDAQ:PODD) by 163.5% in the third quarter, according to its most recent filing with the SEC. The fund owned 9,247 shares of the medical instruments supplier’s stock after acquiring an additional 5,738 shares during the quarter. SG Americas Securities LLC’s holdings in Insulet were worth $509,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Insulet by 11.4% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,302 shares of the medical instruments supplier’s stock valued at $118,000 after acquiring an additional 235 shares during the last quarter. Wrapmanager Inc. bought a new position in shares of Insulet during the 2nd quarter valued at approximately $217,000. RNC Capital Management LLC bought a new position in shares of Insulet during the 2nd quarter valued at approximately $225,000. Strs Ohio boosted its position in shares of Insulet by 35.0% during the 2nd quarter. Strs Ohio now owns 5,400 shares of the medical instruments supplier’s stock valued at $277,000 after acquiring an additional 1,400 shares during the last quarter. Finally, Turner Investments LLC bought a new position in shares of Insulet during the 2nd quarter valued at approximately $334,000.
Shares of Insulet Co. (PODD) opened at $70.48 on Tuesday. The company has a quick ratio of 4.42, a current ratio of 4.88 and a debt-to-equity ratio of 4.65. Insulet Co. has a 52 week low of $36.68 and a 52 week high of $72.99.
In other Insulet news, Director James C. Mullen bought 2,500 shares of Insulet stock in a transaction on Monday, November 13th. The shares were acquired at an average price of $67.45 per share, for a total transaction of $168,625.00. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 2.60% of the company’s stock.
PODD has been the subject of a number of analyst reports. Canaccord Genuity upgraded Insulet from a “hold” rating to a “buy” rating and raised their price target for the stock from $50.00 to $65.00 in a research report on Wednesday, November 1st. Robert W. Baird set a $65.00 price target on Insulet and gave the stock a “buy” rating in a research report on Friday, October 13th. Jefferies Group raised their price target on Insulet from $58.00 to $67.00 and gave the stock a “buy” rating in a research report on Friday, November 3rd. Wedbush restated a “buy” rating and issued a $65.00 price target (up from $60.00) on shares of Insulet in a research report on Tuesday, October 10th. Finally, Morgan Stanley raised their price target on Insulet from $55.00 to $63.00 and gave the stock an “equal weight” rating in a research report on Friday, November 3rd. Eight analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of $61.07.
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Insulet Corporation is engaged in the development, manufacturing and sale of the OmniPod Insulin Management System (the OmniPod System), an insulin delivery system for people with insulin-dependent diabetes. The Omnipod System features a self-adhesive disposable tubeless Omnipod device, which is worn on the body for approximately three days at a time and its wireless companion, the handheld Personal Diabetes Manager (PDM).
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