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

Sumitomo Mitsui Trust Group Inc. increased its holdings in Insulet Co. (NASDAQ:PODD - Free Report) by 3.5% in the 3rd quarter, according to its most recent filing with the SEC. The institutional investor owned 156,326 shares of the medical instruments supplier's stock after buying an additional 5,226 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned about 0.22% of Insulet worth $36,385,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the business. Baillie Gifford & Co. increased its holdings in Insulet by 20.7% in the 3rd quarter. Baillie Gifford & Co. now owns 2,275,701 shares of the medical instruments supplier's stock worth $529,669,000 after buying an additional 389,639 shares in the last quarter. OVERSEA CHINESE BANKING Corp Ltd grew its stake in shares of Insulet by 4.7% during the 3rd quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 1,076 shares of the medical instruments supplier's stock valued at $250,000 after purchasing an additional 48 shares during the period. GSA Capital Partners LLP bought a new stake in shares of Insulet during the 3rd quarter valued at about $1,017,000. Keystone Financial Services bought a new stake in shares of Insulet during the 3rd quarter valued at about $210,000. Finally, 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 valued at $36,000 after purchasing an additional 133 shares during the period.

Insulet Stock Down 0.4 %

PODD stock traded down $1.04 during trading on Friday, reaching $260.12. 916,752 shares of the company traded hands, compared to its average volume of 593,344. The company has a debt-to-equity ratio of 1.21, a quick ratio of 2.80 and a current ratio of 3.68. The company has a market capitalization of $18.24 billion, a price-to-earnings ratio of 44.54, a price-to-earnings-growth ratio of 3.98 and a beta of 1.22. The business has a 50 day simple moving average of $237.77 and a 200 day simple moving average of $207.98. Insulet Co. has a 12 month low of $160.19 and a 12 month high of $279.40.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on PODD. Morgan Stanley boosted their price target on Insulet from $234.00 to $317.00 and gave the company an "overweight" rating in a research note on Monday, November 11th. Sanford C. Bernstein began coverage on Insulet in a research note on Wednesday, November 6th. They set an "outperform" rating and a $300.00 price target for the company. Citigroup boosted their price target on Insulet from $250.00 to $275.00 and gave the company a "buy" rating in a research note on Tuesday, October 1st. BTIG Research lifted their price objective on Insulet from $260.00 to $270.00 and gave the company a "buy" rating in a research report on Friday, November 8th. Finally, Raymond James lifted their price objective on Insulet from $213.00 to $260.00 and gave the company an "outperform" rating in a research report on Monday, October 14th. Three research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $253.27.

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.