Bank of Montreal Can Buys 9,991 Shares of Insulet Co. (NASDAQ:PODD)

Bank of Montreal Can lifted its stake in Insulet Co. (NASDAQ:PODD) by 9.0% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 120,701 shares of the medical instruments supplier’s stock after buying an additional 9,991 shares during the period. Bank of Montreal Can’s holdings in Insulet were worth $28,006,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in PODD. Baillie Gifford & Co. lifted its position in shares of Insulet by 20.7% in the 3rd quarter. Baillie Gifford & Co. now owns 2,275,701 shares of the medical instruments supplier’s stock worth $529,669,000 after acquiring an additional 389,639 shares during the period. Clearbridge Investments LLC raised its stake in shares of 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 in the last quarter. American Century Companies Inc. lifted its position 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 during the period. Westfield Capital Management Co. LP boosted its stake in Insulet by 27.6% during the third quarter. Westfield Capital Management Co. LP now owns 754,872 shares of the medical instruments supplier’s stock worth $175,697,000 after buying an additional 163,388 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its holdings in Insulet by 43.8% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 636,265 shares of the medical instruments supplier’s stock valued at $148,091,000 after buying an additional 193,839 shares during the period.

Insulet Stock Performance

PODD stock opened at $266.78 on Friday. The company has a 50 day moving average price of $243.79 and a 200 day moving average price of $213.11. Insulet Co. has a fifty-two week low of $160.19 and a fifty-two week high of $279.40. 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 stock has a market capitalization of $18.71 billion, a PE ratio of 45.57, a price-to-earnings-growth ratio of 4.08 and a beta of 1.22.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on PODD. Piper Sandler lifted their target price on shares of Insulet from $230.00 to $285.00 and gave the company an “overweight” rating in a research 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 research note on Friday, August 9th. Sanford C. Bernstein began coverage on Insulet in a research report on Wednesday, November 6th. They set 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 company an “equal weight” rating in a research report on Monday, November 11th. Finally, Citigroup upped their target price on shares of Insulet from $250.00 to $275.00 and gave the stock a “buy” rating in a 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. Based on data from MarketBeat.com, Insulet has a consensus rating of “Moderate Buy” and a consensus price target of $253.27.

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.