Virtu Financial LLC Makes New $616,000 Investment in Insulet Co. (NASDAQ:PODD)

Virtu Financial LLC bought a new stake in shares of Insulet Co. (NASDAQ:PODD) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 2,648 shares of the medical instruments supplier’s stock, valued at approximately $616,000.

Several other institutional investors and hedge funds have also recently modified their holdings of PODD. Wealth Enhancement Advisory Services LLC increased its position in shares of Insulet by 36.2% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 2,351 shares of the medical instruments supplier’s stock valued at $474,000 after buying an additional 625 shares in the last quarter. Nisa Investment Advisors LLC increased its holdings in Insulet by 90.1% in the 2nd quarter. Nisa Investment Advisors LLC now owns 3,797 shares of the medical instruments supplier’s stock worth $766,000 after acquiring an additional 1,800 shares in the last quarter. Neo Ivy Capital Management acquired a new position in Insulet during the second quarter worth $106,000. Pallas Capital Advisors LLC purchased a new position in Insulet during the second quarter valued at $213,000. Finally, Fifth Third Bancorp grew its position in shares of Insulet by 13.5% in the second quarter. Fifth Third Bancorp now owns 8,221 shares of the medical instruments supplier’s stock valued at $1,659,000 after purchasing an additional 975 shares during the period.

Analyst Upgrades and Downgrades

PODD has been the subject of several research analyst reports. Piper Sandler upped their price target on shares of Insulet from $230.00 to $285.00 and gave the stock an “overweight” rating in a research report on Tuesday, September 17th. Wells Fargo & Company raised their target price on Insulet from $290.00 to $305.00 and gave the company an “overweight” rating in a research report on Wednesday. Canaccord Genuity Group boosted their price target on Insulet from $269.00 to $304.00 and gave the stock a “buy” rating in a research report on Monday, December 9th. JPMorgan Chase & Co. raised their price objective on Insulet from $280.00 to $330.00 and gave the company an “overweight” rating in a report on Thursday. Finally, 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 research note on Monday, November 11th. Three investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $267.44.

Insulet Stock Performance

NASDAQ:PODD opened at $269.34 on Friday. The company’s 50-day moving average is $251.37 and its two-hundred day moving average is $220.31. Insulet Co. has a 1-year low of $160.19 and a 1-year high of $279.77. The company has a debt-to-equity ratio of 1.21, a current ratio of 3.68 and a quick ratio of 2.80. The firm has a market capitalization of $18.89 billion, a price-to-earnings ratio of 46.12, a PEG ratio of 4.18 and a beta of 1.21.

Insider Activity

In other Insulet news, CAO Lauren Budden sold 915 shares of the firm’s stock in a transaction on Tuesday, December 10th. The stock was sold at an average price of $275.62, for a total transaction of $252,192.30. Following the completion of the sale, the chief accounting officer now owns 5,733 shares of the company’s stock, valued at $1,580,129.46. This trade represents a 13.76 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.47% of the company’s stock.

About Insulet

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.