Principal Financial Group Inc. Raises Stake in Insulet Co. (NASDAQ:PODD)

Principal Financial Group Inc. increased its holdings in Insulet Co. (NASDAQ:PODD) by 4.0% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 86,210 shares of the medical instruments supplier’s stock after buying an additional 3,355 shares during the quarter. Principal Financial Group Inc.’s holdings in Insulet were worth $20,065,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of PODD. Blue Trust Inc. grew its holdings in Insulet by 84.1% during the third quarter. Blue Trust Inc. now owns 127 shares of the medical instruments supplier’s stock worth $30,000 after acquiring an additional 58 shares during the period. International Assets Investment Management LLC purchased a new stake in Insulet in the 2nd quarter worth approximately $32,000. Venturi Wealth Management LLC grew its stake in shares of Insulet by 633.3% during 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. increased its holdings in shares of 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 purchasing an additional 81 shares in the last quarter. Finally, TD Private Client Wealth LLC increased its holdings in shares of Insulet by 32.6% during the 3rd quarter. TD Private Client Wealth LLC now owns 228 shares of the medical instruments supplier’s stock valued at $53,000 after purchasing an additional 56 shares in the last quarter.

Insider Activity at Insulet

In other Insulet news, CAO Lauren Budden sold 915 shares of the business’s stock in a transaction dated Tuesday, December 10th. The shares were sold at an average price of $275.62, for a total value of $252,192.30. Following the transaction, the chief accounting officer now directly owns 5,733 shares in the company, valued at $1,580,129.46. The trade was a 13.76 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 0.47% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several analysts recently commented on PODD shares. 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 research report on Tuesday, September 17th. Canaccord Genuity Group lifted their price target on Insulet from $269.00 to $304.00 and gave the company a “buy” rating in a research note on Monday, December 9th. Citigroup increased their price target on Insulet from $283.00 to $310.00 and gave the stock a “buy” rating in a research report on Wednesday, December 11th. Barclays boosted their price objective on Insulet from $220.00 to $234.00 and gave the company an “equal weight” rating in a research report on Monday, November 11th. Finally, Wells Fargo & Company increased their target price on Insulet from $290.00 to $305.00 and gave the company an “overweight” rating in a research report on Wednesday, December 11th. Three investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat.com, Insulet has an average rating of “Moderate Buy” and a consensus target price of $269.40.

Insulet Stock Up 0.9 %

Shares of NASDAQ:PODD opened at $265.68 on Friday. Insulet Co. has a 52-week low of $160.19 and a 52-week high of $279.77. The stock has a market cap of $18.64 billion, a P/E ratio of 45.49, a PEG ratio of 4.12 and a beta of 1.21. The business has a fifty day moving average of $257.14 and a two-hundred day moving average of $225.06. The company has a quick ratio of 2.80, a current ratio of 3.68 and a debt-to-equity ratio of 1.21.

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.