QRG Capital Management Inc. Acquires New Holdings in Insulet Co. (NASDAQ:PODD)

QRG Capital Management Inc. acquired a new position in Insulet Co. (NASDAQ:PODD) in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 1,277 shares of the medical instruments supplier’s stock, valued at approximately $297,000.

A number of other hedge funds also recently bought and sold shares of the stock. Vanguard Group Inc. increased its holdings in shares of Insulet by 2.1% in the 1st quarter. Vanguard Group Inc. now owns 8,199,114 shares of the medical instruments supplier’s stock valued at $1,405,328,000 after acquiring an additional 169,506 shares during the period. Baillie Gifford & Co. boosted its position in Insulet by 30.8% during the second quarter. Baillie Gifford & Co. now owns 1,886,062 shares of the medical instruments supplier’s stock valued at $380,607,000 after purchasing an additional 443,783 shares in the last quarter. Clearbridge Investments LLC grew its stake in Insulet by 6.0% in the second quarter. Clearbridge Investments LLC now owns 1,339,763 shares of the medical instruments supplier’s stock valued at $270,364,000 after purchasing an additional 75,526 shares during the last quarter. American Century Companies Inc. raised its holdings in Insulet by 18.7% in the second quarter. American Century Companies Inc. now owns 885,669 shares of the medical instruments supplier’s stock worth $178,728,000 after purchasing an additional 139,246 shares in the last quarter. Finally, Marshall Wace LLP purchased a new stake in shares of Insulet during the second quarter valued at about $99,978,000.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on PODD. BTIG Research lifted their price objective on shares of Insulet from $260.00 to $270.00 and gave the stock a “buy” rating in a research report on Friday. Sanford C. Bernstein assumed coverage on shares of Insulet in a research note on Wednesday, November 6th. They issued an “outperform” rating and a $300.00 target price for the company. Barclays upped their price target on Insulet from $220.00 to $234.00 and gave the stock an “equal weight” rating in a research report on Monday. Canaccord Genuity Group increased their price objective on Insulet from $236.00 to $269.00 and gave the company a “buy” rating in a report on Wednesday, September 25th. Finally, Raymond James boosted their target price on Insulet from $213.00 to $260.00 and gave the stock an “outperform” rating in a research note on Monday, October 14th. Three equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $253.27.

Insulet Price Performance

Shares of NASDAQ PODD opened at $275.70 on Tuesday. Insulet Co. has a 52 week low of $156.00 and a 52 week high of $279.40. The business’s 50 day moving average price is $233.46 and its 200 day moving average price is $205.26. The company has a quick ratio of 2.71, a current ratio of 3.60 and a debt-to-equity ratio of 1.36. The firm has a market cap of $19.33 billion, a P/E ratio of 47.21, a P/E/G ratio of 5.00 and a beta of 1.22.

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.