Polar Asset Management Partners Inc. Sells 40,280 Shares of Insulet Co. (NASDAQ:PODD)

Polar Asset Management Partners Inc. cut its holdings in Insulet Co. (NASDAQ:PODD) by 15.2% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 224,042 shares of the medical instruments supplier’s stock after selling 40,280 shares during the quarter. Insulet makes up 1.1% of Polar Asset Management Partners Inc.’s holdings, making the stock its 15th biggest holding. Polar Asset Management Partners Inc. owned approximately 0.32% of Insulet worth $52,146,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the stock. Blue Trust Inc. increased its holdings in Insulet by 84.1% in the 3rd quarter. Blue Trust Inc. now owns 127 shares of the medical instruments supplier’s stock worth $30,000 after purchasing an additional 58 shares in the last quarter. International Assets Investment Management LLC bought a new stake in Insulet during the 2nd quarter worth approximately $32,000. Venturi Wealth Management LLC increased its position in Insulet by 633.3% in the 3rd quarter. Venturi Wealth Management LLC now owns 154 shares of the medical instruments supplier’s stock valued at $36,000 after acquiring an additional 133 shares during the period. UMB Bank n.a. raised its stake in shares of Insulet by 81.0% during the second quarter. UMB Bank n.a. now owns 181 shares of the medical instruments supplier’s stock valued at $37,000 after acquiring an additional 81 shares during the last quarter. Finally, Massmutual Trust Co. FSB ADV lifted its holdings in shares of Insulet by 159.2% during the second quarter. Massmutual Trust Co. FSB ADV now owns 254 shares of the medical instruments supplier’s stock worth $51,000 after purchasing an additional 156 shares during the period.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on PODD shares. Raymond James increased their price target on Insulet from $213.00 to $260.00 and gave the company an “outperform” rating in a research note on Monday, October 14th. Morgan Stanley boosted their target price on shares of Insulet from $234.00 to $317.00 and gave the company an “overweight” rating in a report on Monday, November 11th. Sanford C. Bernstein began coverage on Insulet in a report on Wednesday, November 6th. They set an “outperform” rating and a $300.00 price target for the company. UBS Group increased their price target on Insulet from $211.00 to $223.00 and gave the stock a “neutral” rating in a report on Friday, August 9th. Finally, Canaccord Genuity Group increased their price objective on shares of Insulet from $236.00 to $269.00 and gave the stock a “buy” rating in a research report on Wednesday, September 25th. Three research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $253.27.

Insulet Price Performance

Insulet stock opened at $269.66 on Wednesday. The company’s 50 day moving average price is $245.56 and its two-hundred day moving average price is $215.53. The company has a quick ratio of 2.80, a current ratio of 3.68 and a debt-to-equity ratio of 1.21. Insulet Co. has a 52 week low of $160.19 and a 52 week high of $279.40. The stock has a market cap of $18.91 billion, a P/E ratio of 46.17, a P/E/G ratio of 4.07 and a beta of 1.21.

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.