Insulet Co. (NASDAQ:PODD) Stake Boosted by Sumitomo Mitsui Trust Group Inc.

Sumitomo Mitsui Trust Group Inc. boosted its position in Insulet Co. (NASDAQ:PODD - Free Report) by 2.1% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 159,680 shares of the medical instruments supplier's stock after purchasing an additional 3,354 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned about 0.23% of Insulet worth $41,688,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in PODD. QRG Capital Management Inc. purchased a new stake in Insulet in the 3rd quarter valued at about $297,000. Fisher Asset Management LLC grew its holdings in Insulet by 0.9% in the 3rd quarter. Fisher Asset Management LLC now owns 351,100 shares of the medical instruments supplier's stock valued at $81,719,000 after buying an additional 3,113 shares during the period. Orion Portfolio Solutions LLC grew its holdings in Insulet by 86.2% in the 3rd quarter. Orion Portfolio Solutions LLC now owns 7,826 shares of the medical instruments supplier's stock valued at $1,822,000 after buying an additional 3,623 shares during the period. Nomura Asset Management Co. Ltd. grew its holdings in Insulet by 5.7% in the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 153,416 shares of the medical instruments supplier's stock valued at $35,708,000 after buying an additional 8,301 shares during the period. Finally, Stifel Financial Corp grew its holdings in Insulet by 2.8% in the 3rd quarter. Stifel Financial Corp now owns 10,527 shares of the medical instruments supplier's stock valued at $2,450,000 after buying an additional 290 shares during the period.

Analyst Ratings Changes

Several analysts have commented on the company. BTIG Research lifted 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. TD Cowen lifted their price target on Insulet from $264.00 to $324.00 and gave the company a "buy" rating in a report on Friday, January 3rd. Wells Fargo & Company lifted their price target on Insulet from $290.00 to $305.00 and gave the company an "overweight" rating in a report on Wednesday, December 11th. Sanford C. Bernstein initiated coverage on shares of Insulet in a research report on Wednesday, November 6th. They set an "outperform" rating and a $300.00 target price for the company. Finally, JPMorgan Chase & Co. increased their target price on shares of Insulet from $280.00 to $330.00 and gave the stock an "overweight" rating in a research report on Thursday, December 12th. Two equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company's stock. According to MarketBeat, Insulet has a consensus rating of "Moderate Buy" and an average price target of $277.13.

Insulet Stock Down 0.6 %

NASDAQ:PODD traded down $1.56 during trading hours on Friday, hitting $280.56. The stock had a trading volume of 474,733 shares, compared to its average volume of 528,501. The company has a current ratio of 3.68, a quick ratio of 2.80 and a debt-to-equity ratio of 1.21. Insulet Co. has a 1-year low of $160.19 and a 1-year high of $289.46. The business has a 50 day simple moving average of $271.74 and a two-hundred day simple moving average of $244.03. The company has a market cap of $19.68 billion, a PE ratio of 48.04, a price-to-earnings-growth ratio of 3.61 and a beta of 1.23.

Insider Buying and Selling at Insulet

In other news, CAO Lauren Budden sold 915 shares of the stock in a transaction that occurred on Tuesday, December 10th. The stock was sold at an average price of $275.62, for a total transaction of $252,192.30. Following the completion of the transaction, the chief accounting officer now directly owns 5,733 shares in the company, valued at approximately $1,580,129.46. This represents a 13.76 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP Eric Benjamin sold 12,394 shares of the stock in a transaction that occurred on Tuesday, January 21st. The shares were sold at an average price of $280.00, for a total value of $3,470,320.00. Following the transaction, the executive vice president now owns 11,383 shares of the company's stock, valued at approximately $3,187,240. This trade represents a 52.13 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.47% of the stock is owned by corporate insiders.

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.