Iron Triangle Partners LP Reduces Stake in Insulet Co. (NASDAQ:PODD)

Iron Triangle Partners LP reduced its stake in shares of Insulet Co. (NASDAQ:PODD) by 58.3% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 110,000 shares of the medical instruments supplier’s stock after selling 154,041 shares during the period. Insulet comprises 3.5% of Iron Triangle Partners LP’s investment portfolio, making the stock its 13th biggest position. Iron Triangle Partners LP owned approximately 0.16% of Insulet worth $25,602,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently modified their holdings of the stock. Blue Trust Inc. increased its position in Insulet by 84.1% in the third 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 last quarter. International Assets Investment Management LLC purchased a new stake in Insulet during the 2nd quarter worth about $32,000. Venturi Wealth Management LLC boosted its stake in Insulet by 633.3% in the 3rd 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 during the period. 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 valued at $37,000 after buying an additional 81 shares in the last quarter. Finally, CVA Family Office LLC increased its position in shares of Insulet by 138.1% during the second quarter. CVA Family Office LLC now owns 250 shares of the medical instruments supplier’s stock valued at $50,000 after buying an additional 145 shares during the period.

Insulet Stock Performance

Shares of PODD opened at $266.49 on Tuesday. The company has a 50-day simple moving average of $244.40 and a two-hundred day simple moving average of $214.37. 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 $18.69 billion, a PE ratio of 45.63, a price-to-earnings-growth ratio of 4.08 and a beta of 1.21. Insulet Co. has a one year low of $160.19 and a one year high of $279.40.

Wall Street Analyst Weigh In

Several research analysts have commented on PODD shares. Barclays raised their price target on shares of Insulet from $220.00 to $234.00 and gave the company an “equal weight” rating in a report on Monday, November 11th. Sanford C. Bernstein began coverage on Insulet in a research report on Wednesday, November 6th. They set an “outperform” rating and a $300.00 price target on the stock. Morgan Stanley upped their price objective on Insulet from $234.00 to $317.00 and gave the stock an “overweight” rating in a report on Monday, November 11th. BTIG Research raised their price objective on Insulet from $260.00 to $270.00 and gave the company a “buy” rating in a report on Friday, November 8th. Finally, UBS Group lifted their target price on shares of Insulet from $211.00 to $223.00 and gave the stock a “neutral” rating in a research report on Friday, August 9th. Three analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average 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.