Insulet Co. (NASDAQ:PODD) Shares Purchased by Sumitomo Mitsui Trust Group Inc.

Sumitomo Mitsui Trust Group Inc. grew its position in shares of Insulet Co. (NASDAQ:PODD) by 3.5% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 156,326 shares of the medical instruments supplier’s stock after purchasing an additional 5,226 shares during the period. Sumitomo Mitsui Trust Group Inc. owned 0.22% of Insulet worth $36,385,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Blue Trust Inc. grew its holdings in Insulet by 84.1% in the third quarter. Blue Trust Inc. now owns 127 shares of the medical instruments supplier’s stock valued at $30,000 after purchasing an additional 58 shares during the period. International Assets Investment Management LLC acquired a new stake in Insulet during the second quarter worth about $32,000. Venturi Wealth Management LLC raised its holdings in shares of 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. lifted its stake in shares of Insulet by 81.0% in the 2nd quarter. UMB Bank n.a. now owns 181 shares of the medical instruments supplier’s stock valued at $37,000 after purchasing an additional 81 shares in the last quarter. Finally, CVA Family Office LLC grew its holdings in shares of Insulet by 138.1% during the 2nd quarter. CVA Family Office LLC now owns 250 shares of the medical instruments supplier’s stock worth $50,000 after purchasing an additional 145 shares during the period.

Insulet Price Performance

Shares of PODD stock opened at $260.12 on Friday. The firm has a market cap of $18.25 billion, a P/E ratio of 44.54, a P/E/G ratio of 4.11 and a beta of 1.22. The firm has a fifty day moving average of $237.77 and a two-hundred day moving average of $207.72. The company has a debt-to-equity ratio of 1.21, a current ratio of 3.68 and a quick ratio of 2.80. Insulet Co. has a 1-year low of $160.19 and a 1-year high of $279.40.

Analysts Set New Price Targets

A number of brokerages have weighed in on PODD. Sanford C. Bernstein started coverage on shares of Insulet in a research report on Wednesday, November 6th. They set an “outperform” rating and a $300.00 price target on the stock. Citigroup lifted their target price on shares of Insulet from $250.00 to $275.00 and gave the company a “buy” rating in a report on Tuesday, October 1st. BTIG Research increased their price target on Insulet from $260.00 to $270.00 and gave the company a “buy” rating in a report on Friday, November 8th. Canaccord Genuity Group upped their target price on Insulet from $236.00 to $269.00 and gave the stock a “buy” rating in a research report on Wednesday, September 25th. Finally, Morgan Stanley increased their target price on Insulet from $234.00 to $317.00 and gave the company an “overweight” rating in a research note on Monday, November 11th. Three research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $253.27.

Insulet Company 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.