Candriam S.C.A. Sells 40,485 Shares of Insulet Corporation $PODD

Candriam S.C.A. cut its position in Insulet Corporation (NASDAQ:PODD) by 52.7% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 36,277 shares of the medical instruments supplier’s stock after selling 40,485 shares during the quarter. Candriam S.C.A. owned approximately 0.05% of Insulet worth $11,200,000 at the end of the most recent reporting period.

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

Insulet Stock Performance

Shares of PODD opened at $252.41 on Wednesday. The company has a debt-to-equity ratio of 0.68, a quick ratio of 2.18 and a current ratio of 2.87. The stock has a 50-day moving average of $281.06 and a two-hundred day moving average of $307.47. The stock has a market cap of $17.76 billion, a P/E ratio of 73.16, a P/E/G ratio of 1.39 and a beta of 1.41. Insulet Corporation has a one year low of $230.05 and a one year high of $354.88.

Analysts Set New Price Targets

Several analysts have recently commented on PODD shares. Leerink Partners increased their price objective on Insulet from $385.00 to $386.00 and gave the company an “outperform” rating in a report on Friday, November 21st. Canaccord Genuity Group increased their price target on Insulet from $432.00 to $450.00 and gave the company a “buy” rating in a research note on Wednesday, December 17th. Sanford C. Bernstein lowered their price target on Insulet from $410.00 to $380.00 and set an “outperform” rating for the company in a report on Friday, January 9th. Wells Fargo & Company upped their price objective on shares of Insulet from $350.00 to $360.00 and gave the company an “overweight” rating in a report on Friday, November 7th. Finally, Evercore began coverage on shares of Insulet in a research report on Tuesday, December 16th. They issued an “outperform” rating and a $370.00 price objective for the company. Twenty research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat, Insulet currently has a consensus rating of “Moderate Buy” and a consensus price target of $374.10.

Insulet Profile

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.