Avestar Capital LLC Buys New Shares in Insulet Co. (NASDAQ:PODD)

Avestar Capital LLC bought a new stake in Insulet Co. (NASDAQ:PODD) in the third quarter, HoldingsChannel reports. The fund bought 960 shares of the medical instruments supplier’s stock, valued at approximately $223,000.

A number of other hedge funds have also added to or reduced their stakes in PODD. Blue Trust Inc. grew its holdings in Insulet by 84.1% during the third quarter. Blue Trust Inc. now owns 127 shares of the medical instruments supplier’s stock worth $30,000 after purchasing an additional 58 shares during the period. International Assets Investment Management LLC acquired a new stake in shares of Insulet in the second quarter valued at approximately $32,000. Venturi Wealth Management LLC boosted its stake in shares of Insulet by 633.3% during the 3rd quarter. Venturi Wealth Management LLC now owns 154 shares of the medical instruments supplier’s stock worth $36,000 after acquiring an additional 133 shares during the period. UMB Bank n.a. increased its holdings in shares of Insulet by 81.0% during the 2nd quarter. UMB Bank n.a. now owns 181 shares of the medical instruments supplier’s stock worth $37,000 after acquiring an additional 81 shares during the last quarter. Finally, CVA Family Office LLC raised its stake in Insulet by 138.1% in the 2nd quarter. CVA Family Office LLC now owns 250 shares of the medical instruments supplier’s stock valued at $50,000 after acquiring an additional 145 shares during the period.

Analyst Ratings Changes

A number of equities analysts have commented on the stock. Morgan Stanley lifted their price objective on shares of Insulet from $234.00 to $317.00 and gave the stock an “overweight” rating in a research report on Monday, November 11th. Barclays lifted their target price on shares of Insulet from $220.00 to $234.00 and gave the stock an “equal weight” rating in a report on Monday, November 11th. Sanford C. Bernstein initiated coverage on shares of Insulet in a report on Wednesday, November 6th. They issued an “outperform” rating and a $300.00 price target on the stock. Canaccord Genuity Group boosted their price objective on Insulet from $236.00 to $269.00 and gave the stock a “buy” rating in a report on Wednesday, September 25th. Finally, Citigroup upped their target price on Insulet from $250.00 to $275.00 and gave the company a “buy” rating in a research report on Tuesday, October 1st. Three research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $253.27.

Insulet Price Performance

PODD stock opened at $266.92 on Friday. The company’s 50-day moving average price is $243.21 and its two-hundred day moving average price is $212.74. The firm has a market cap of $18.72 billion, a P/E ratio of 45.71, a P/E/G ratio of 4.08 and a beta of 1.22. 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 12 month low of $160.19 and a 12 month high of $279.40.

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.