Brooklyn Investment Group Acquires New Stake in Insulet Co. (NASDAQ:PODD)

Brooklyn Investment Group bought a new position in Insulet Co. (NASDAQ:PODD) in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 717 shares of the medical instruments supplier’s stock, valued at approximately $167,000.

Several other hedge funds have also recently made changes to their positions in PODD. Tidal Investments LLC lifted its stake in shares of Insulet by 58.8% during the 1st quarter. Tidal Investments LLC now owns 4,064 shares of the medical instruments supplier’s stock valued at $697,000 after buying an additional 1,504 shares in the last quarter. iA Global Asset Management Inc. purchased a new stake in shares of Insulet during the first quarter worth $105,000. Swedbank AB bought a new position in shares of Insulet in the first quarter worth $6,903,000. Beck Bode LLC grew its position in shares of Insulet by 41.3% in the first quarter. Beck Bode LLC now owns 69,761 shares of the medical instruments supplier’s stock valued at $11,957,000 after purchasing an additional 20,373 shares in the last quarter. Finally, Teachers Retirement System of The State of Kentucky raised its stake in shares of Insulet by 23.9% during the 1st quarter. Teachers Retirement System of The State of Kentucky now owns 35,035 shares of the medical instruments supplier’s stock valued at $6,006,000 after purchasing an additional 6,754 shares during the period.

Insulet Price Performance

PODD opened at $266.92 on Thursday. The company has a debt-to-equity ratio of 1.21, a quick ratio of 2.80 and a current ratio of 3.68. The stock has a market capitalization of $18.72 billion, a PE ratio of 45.71, a price-to-earnings-growth ratio of 4.08 and a beta of 1.22. The stock’s 50 day moving average price is $242.59 and its 200-day moving average price is $212.36. Insulet Co. has a 52-week low of $160.19 and a 52-week high of $279.40.

Analyst Upgrades and Downgrades

Several brokerages have commented on PODD. Barclays raised their target price on Insulet from $220.00 to $234.00 and gave the stock an “equal weight” rating in a research note on Monday, November 11th. Morgan Stanley raised their price objective on shares of Insulet from $234.00 to $317.00 and gave the company an “overweight” rating in a research report on Monday, November 11th. Canaccord Genuity Group upped their target price on shares of Insulet from $236.00 to $269.00 and gave the stock a “buy” rating in a report on Wednesday, September 25th. Piper Sandler raised their price target on shares of Insulet from $230.00 to $285.00 and gave the company an “overweight” rating in a report on Tuesday, September 17th. Finally, BTIG Research upped their price target on shares of Insulet from $260.00 to $270.00 and gave the stock a “buy” rating in a report on Friday, November 8th. Three equities 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, Insulet currently has a consensus rating of “Moderate Buy” and a consensus price target of $253.27.

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.