PNC Financial Services Group Inc. Boosts Stake in Insulet Co. (NASDAQ:PODD)

PNC Financial Services Group Inc. increased its holdings in shares of Insulet Co. (NASDAQ:PODD) by 37.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 10,479 shares of the medical instruments supplier’s stock after purchasing an additional 2,856 shares during the period. PNC Financial Services Group Inc.’s holdings in Insulet were worth $2,274,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in the business. Consolidated Portfolio Review Corp raised its holdings in shares of Insulet by 1.6% during the fourth quarter. Consolidated Portfolio Review Corp now owns 3,713 shares of the medical instruments supplier’s stock worth $806,000 after purchasing an additional 57 shares during the last quarter. FourThought Financial Partners LLC raised its holdings in shares of Insulet by 1.4% during the fourth quarter. FourThought Financial Partners LLC now owns 4,461 shares of the medical instruments supplier’s stock worth $968,000 after purchasing an additional 61 shares during the last quarter. Linden Thomas Advisory Services LLC raised its holdings in shares of Insulet by 1.3% during the fourth quarter. Linden Thomas Advisory Services LLC now owns 5,817 shares of the medical instruments supplier’s stock worth $1,262,000 after purchasing an additional 73 shares during the last quarter. Lindbrook Capital LLC raised its holdings in shares of Insulet by 64.1% during the fourth quarter. Lindbrook Capital LLC now owns 192 shares of the medical instruments supplier’s stock worth $42,000 after purchasing an additional 75 shares during the last quarter. Finally, Avior Wealth Management LLC raised its holdings in shares of Insulet by 3.6% during the fourth quarter. Avior Wealth Management LLC now owns 2,645 shares of the medical instruments supplier’s stock worth $574,000 after purchasing an additional 91 shares during the last quarter.

Wall Street Analysts Forecast Growth

PODD has been the subject of several recent research reports. JPMorgan Chase & Co. raised their target price on shares of Insulet from $190.00 to $225.00 and gave the stock an “overweight” rating in a report on Friday, February 23rd. OTR Global reaffirmed a “mixed” rating on shares of Insulet in a report on Monday, June 10th. Redburn Atlantic started coverage on shares of Insulet in a report on Thursday, May 30th. They issued a “buy” rating and a $235.00 price objective for the company. Piper Sandler cut their price objective on shares of Insulet from $250.00 to $230.00 and set an “overweight” rating for the company in a report on Friday, February 23rd. Finally, Barclays cut their price objective on shares of Insulet from $213.00 to $200.00 and set an “equal weight” rating for the company in a report on Monday, May 13th. Four research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. Based on data from MarketBeat.com, Insulet presently has an average rating of “Moderate Buy” and an average target price of $239.18.

Insiders Place Their Bets

In other Insulet news, Director Timothy J. Scannell sold 3,300 shares of Insulet stock in a transaction dated Tuesday, May 28th. The shares were sold at an average price of $180.90, for a total transaction of $596,970.00. Following the transaction, the director now directly owns 42,586 shares of the company’s stock, valued at $7,703,807.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Insulet news, Director Timothy J. Scannell sold 3,300 shares of Insulet stock in a transaction dated Tuesday, May 28th. The shares were sold at an average price of $180.90, for a total transaction of $596,970.00. Following the transaction, the director now directly owns 42,586 shares of the company’s stock, valued at $7,703,807.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Mark N. Field sold 1,500 shares of Insulet stock in a transaction dated Friday, June 14th. The stock was sold at an average price of $199.96, for a total transaction of $299,940.00. Following the transaction, the senior vice president now directly owns 12,875 shares in the company, valued at $2,574,485. The disclosure for this sale can be found here. Insiders have sold 13,931 shares of company stock valued at $2,636,286 over the last ninety days. Company insiders own 0.47% of the company’s stock.

Insulet Stock Performance

PODD opened at $199.31 on Friday. The firm has a market capitalization of $13.96 billion, a PE ratio of 60.40, a PEG ratio of 3.54 and a beta of 1.14. Insulet Co. has a twelve month low of $125.82 and a twelve month high of $298.95. The firm’s 50-day moving average price is $179.00 and its 200 day moving average price is $185.96. The company has a current ratio of 3.74, a quick ratio of 2.75 and a debt-to-equity ratio of 1.72.

Insulet (NASDAQ:PODD) last posted its quarterly earnings results on Thursday, May 9th. The medical instruments supplier reported $0.73 earnings per share for the quarter, topping analysts’ consensus estimates of $0.39 by $0.34. The firm had revenue of $441.70 million for the quarter, compared to analyst estimates of $424.05 million. Insulet had a net margin of 13.14% and a return on equity of 34.06%. Insulet’s quarterly revenue was up 23.3% on a year-over-year basis. During the same period in the previous year, the business posted $0.23 earnings per share. As a group, sell-side analysts expect that Insulet Co. will post 3.11 EPS for the current fiscal year.

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.