Prime Capital Investment Advisors LLC Invests $265,000 in Insulet Co. (NASDAQ:PODD)

Prime Capital Investment Advisors LLC bought a new position in Insulet Co. (NASDAQ:PODD) in the 3rd quarter, Holdings Channel.com reports. The fund bought 1,137 shares of the medical instruments supplier’s stock, valued at approximately $265,000.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Sumitomo Mitsui Trust Group Inc. grew its position in shares of Insulet by 3.5% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 156,326 shares of the medical instruments supplier’s stock valued at $36,385,000 after buying an additional 5,226 shares during the last quarter. Baillie Gifford & Co. grew its position in shares of Insulet by 20.7% during the 3rd quarter. Baillie Gifford & Co. now owns 2,275,701 shares of the medical instruments supplier’s stock valued at $529,669,000 after buying an additional 389,639 shares during the last quarter. OVERSEA CHINESE BANKING Corp Ltd grew its position in shares of Insulet by 4.7% during the 3rd quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 1,076 shares of the medical instruments supplier’s stock valued at $250,000 after buying an additional 48 shares during the last quarter. GSA Capital Partners LLP bought a new stake in shares of Insulet during the 3rd quarter valued at about $1,017,000. Finally, Keystone Financial Services bought a new stake in shares of Insulet during the 3rd quarter valued at about $210,000.

Insulet Trading Down 0.4 %

Shares of NASDAQ:PODD opened at $260.12 on Monday. The company has a 50 day moving average of $237.77 and a 200-day moving average of $207.98. The firm has a market cap of $18.24 billion, a P/E ratio of 44.54, a P/E/G ratio of 3.98 and a beta of 1.22. Insulet Co. has a twelve month low of $160.19 and a twelve month high of $279.40. The company has a current ratio of 3.68, a quick ratio of 2.80 and a debt-to-equity ratio of 1.21.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the stock. Morgan Stanley boosted their price objective on shares of Insulet from $234.00 to $317.00 and gave the company an “overweight” rating in a research report on Monday, November 11th. Canaccord Genuity Group boosted their target price on shares of Insulet from $236.00 to $269.00 and gave the company a “buy” rating in a research note on Wednesday, September 25th. Piper Sandler boosted their target price on shares of Insulet from $230.00 to $285.00 and gave the company an “overweight” rating in a research note on Tuesday, September 17th. Raymond James boosted their target price on shares of Insulet from $213.00 to $260.00 and gave the company an “outperform” rating in a research note on Monday, October 14th. Finally, BTIG Research boosted their target price on shares of Insulet from $260.00 to $270.00 and gave the company a “buy” rating in a research note on Friday, November 8th. Three investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $253.27.

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.