OVERSEA CHINESE BANKING Corp Ltd Raises Position in Insulet Co. (NASDAQ:PODD)

OVERSEA CHINESE BANKING Corp Ltd lifted its position in shares of Insulet Co. (NASDAQ:PODD) by 4.7% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,076 shares of the medical instruments supplier’s stock after acquiring an additional 48 shares during the period. OVERSEA CHINESE BANKING Corp Ltd’s holdings in Insulet were worth $250,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in PODD. Sei Investments Co. lifted its holdings in shares of Insulet by 16.2% during the first quarter. Sei Investments Co. now owns 11,782 shares of the medical instruments supplier’s stock valued at $2,019,000 after purchasing an additional 1,639 shares in the last quarter. State Board of Administration of Florida Retirement System raised 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 valued at $13,444,000 after purchasing an additional 2,847 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. boosted its holdings in Insulet by 22.3% in 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 purchasing an additional 14,289 shares during the last quarter. Mitsubishi UFJ Trust & Banking Corp raised its stake in Insulet by 246.2% during the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 135,547 shares of the medical instruments supplier’s stock valued at $23,168,000 after buying an additional 96,390 shares during the last quarter. Finally, Intech Investment Management LLC lifted its holdings in shares of Insulet by 113.8% during the 1st quarter. Intech Investment Management LLC now owns 6,649 shares of the medical instruments supplier’s stock valued at $1,140,000 after buying an additional 3,539 shares during the period.

Wall Street Analysts Forecast Growth

PODD has been the topic of a number of recent research reports. Canaccord Genuity Group increased their target price on Insulet from $236.00 to $269.00 and gave the company a “buy” rating in a report on Wednesday, September 25th. Citigroup increased their price target on shares of Insulet from $250.00 to $275.00 and gave the stock a “buy” rating in a research report on Tuesday, October 1st. Morgan Stanley upped their price objective on Insulet from $234.00 to $317.00 and gave the stock an “overweight” rating in a research note on Monday. Piper Sandler boosted their price target on Insulet from $230.00 to $285.00 and gave the company an “overweight” rating in a report on Tuesday, September 17th. Finally, Sanford C. Bernstein began coverage on Insulet in a research report on Wednesday, November 6th. They set an “outperform” rating and a $300.00 price objective on the stock. Three research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $253.27.

Insulet Price Performance

NASDAQ:PODD opened at $269.06 on Thursday. The company has a market capitalization of $18.87 billion, a P/E ratio of 46.07, a P/E/G ratio of 4.26 and a beta of 1.22. The business’s 50-day moving average is $235.96 and its 200 day moving average is $206.47. The company has a current ratio of 3.68, a quick ratio of 2.80 and a debt-to-equity ratio of 1.21. Insulet Co. has a 12 month low of $160.19 and a 12 month high of $279.40.

Insulet Company 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.