Jennison Associates LLC Has $30.25 Million Stake in Insulet Co. (NASDAQ:PODD)

Jennison Associates LLC lifted its position in Insulet Co. (NASDAQ:PODD) by 113.8% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 129,967 shares of the medical instruments supplier’s stock after buying an additional 69,180 shares during the quarter. Jennison Associates LLC owned about 0.19% of Insulet worth $30,250,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Blue Trust Inc. increased its position 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 buying an additional 58 shares during the period. Venturi Wealth Management LLC lifted its position in shares of Insulet by 633.3% during the third quarter. Venturi Wealth Management LLC now owns 154 shares of the medical instruments supplier’s stock worth $36,000 after purchasing an additional 133 shares in the last quarter. International Assets Investment Management LLC bought a new position in Insulet in the second quarter valued at about $32,000. UMB Bank n.a. grew its holdings in 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 period. Finally, CVA Family Office LLC grew its position in shares of Insulet by 138.1% during the 2nd quarter. CVA Family Office LLC now owns 250 shares of the medical instruments supplier’s stock worth $50,000 after buying an additional 145 shares during the period.

Analyst Ratings Changes

A number of analysts have recently commented on the company. 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. UBS Group upped their price objective on Insulet from $211.00 to $223.00 and gave the company a “neutral” rating in a report on Friday, August 9th. Citigroup boosted their price target on Insulet from $250.00 to $275.00 and gave the company a “buy” rating in a research note on Tuesday, October 1st. Raymond James lifted 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. Finally, Sanford C. Bernstein assumed 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 equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to MarketBeat, Insulet has a consensus rating of “Moderate Buy” and an average target price of $253.27.

Insulet Price Performance

Shares of PODD opened at $262.99 on Friday. The firm has a market cap of $18.45 billion, a PE ratio of 45.03, a price-to-earnings-growth ratio of 4.01 and a beta of 1.22. The business’s 50 day moving average price is $240.74 and its two-hundred day moving average price is $209.99. The company has a debt-to-equity ratio of 1.21, a quick ratio of 2.80 and a current ratio of 3.68. Insulet Co. has a 52-week low of $160.19 and a 52-week 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.