ProShare Advisors LLC Reduces Stock Holdings in Insulet Corporation $PODD

ProShare Advisors LLC reduced its position in shares of Insulet Corporation (NASDAQ:PODD) by 20.3% in the third quarter, HoldingsChannel reports. The firm owned 12,476 shares of the medical instruments supplier’s stock after selling 3,181 shares during the quarter. ProShare Advisors LLC’s holdings in Insulet were worth $3,852,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. grew its position in Insulet by 0.5% during the second quarter. Vanguard Group Inc. now owns 8,708,355 shares of the medical instruments supplier’s stock valued at $2,735,991,000 after buying an additional 39,403 shares during the period. Geode Capital Management LLC boosted its stake in shares of Insulet by 3.1% during the 2nd quarter. Geode Capital Management LLC now owns 1,927,543 shares of the medical instruments supplier’s stock worth $603,211,000 after acquiring an additional 58,309 shares during the last quarter. Norges Bank bought a new stake in shares of Insulet during the 2nd quarter valued at $324,689,000. Federated Hermes Inc. increased its stake in shares of Insulet by 14.3% in the 2nd quarter. Federated Hermes Inc. now owns 723,363 shares of the medical instruments supplier’s stock worth $227,266,000 after purchasing an additional 90,494 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its stake in shares of Insulet by 1.0% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 681,130 shares of the medical instruments supplier’s stock worth $213,997,000 after purchasing an additional 6,763 shares in the last quarter.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on PODD shares. Weiss Ratings reiterated a “hold (c)” rating on shares of Insulet in a research report on Thursday, January 22nd. The Goldman Sachs Group reaffirmed a “buy” rating and set a $365.00 price objective on shares of Insulet in a research report on Friday, January 9th. Stifel Nicolaus cut their price objective on Insulet from $370.00 to $350.00 and set a “buy” rating for the company in a research note on Wednesday, February 4th. TD Cowen cut shares of Insulet from a “buy” rating to a “hold” rating and set a $294.00 target price on the stock. in a research note on Monday, January 26th. Finally, Wolfe Research lifted their price target on shares of Insulet from $350.00 to $375.00 and gave the company an “outperform” rating in a report on Friday, November 7th. Twenty analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $374.10.

Insulet Stock Up 0.8%

NASDAQ PODD opened at $242.74 on Friday. Insulet Corporation has a 12 month low of $230.05 and a 12 month high of $354.88. The company has a current ratio of 2.87, a quick ratio of 2.18 and a debt-to-equity ratio of 0.68. The stock has a market cap of $17.08 billion, a PE ratio of 70.36, a P/E/G ratio of 1.36 and a beta of 1.41. The stock’s 50 day moving average is $277.19 and its 200 day moving average is $306.27.

Insulet Profile

Insulet Corporation is a medical device company headquartered in Acton, Massachusetts, that develops, manufactures and sells insulin-delivery systems for people with diabetes. The company’s core business is the design and commercialization of its Omnipod family of tubeless, wearable insulin pumps and the consumable Pods that deliver insulin. Insulet’s products aim to simplify insulin delivery for people with type 1 diabetes and insulin-requiring type 2 diabetes by offering an alternative to traditional insulin pens and tethered pump systems.

The company’s product portfolio includes the Omnipod System line—disposable, waterproof Pods that adhere to the skin and deliver insulin—and the associated controllers and mobile applications used to program and monitor insulin delivery.