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Principal Financial Group Inc. Grows Position in Insulet Co. (NASDAQ:PODD)

Insulet logo with Medical background

Principal Financial Group Inc. raised its position in shares of Insulet Co. (NASDAQ:PODD - Free Report) by 4.0% in the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 86,210 shares of the medical instruments supplier's stock after purchasing an additional 3,355 shares during the quarter. Principal Financial Group Inc. owned 0.12% of Insulet worth $20,065,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Blue Trust Inc. lifted its holdings in shares of Insulet by 84.1% during 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 in the last quarter. International Assets Investment Management LLC bought a new position in Insulet during the 2nd quarter valued at about $32,000. Venturi Wealth Management LLC boosted its holdings 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 acquiring an additional 133 shares during the last quarter. UMB Bank n.a. raised its holdings in shares of Insulet by 81.0% during the second 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 during the last quarter. Finally, TD Private Client Wealth LLC raised its holdings in shares of Insulet by 32.6% during the third 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 during the last quarter.

Insider Activity

In related news, CAO Lauren Budden sold 915 shares of the firm's stock in a transaction on Tuesday, December 10th. The shares were 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 of the company's stock, valued at approximately $1,580,129.46. This trade represents a 13.76 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 0.47% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms have commented on PODD. Citigroup lifted their target price on shares of Insulet from $283.00 to $310.00 and gave the stock a "buy" rating in a research report on Wednesday, December 11th. JPMorgan Chase & Co. lifted their price objective on Insulet from $280.00 to $330.00 and gave the stock an "overweight" rating in a report on Thursday, December 12th. Sanford C. Bernstein began coverage on Insulet in a report on Wednesday, November 6th. They issued an "outperform" rating and a $300.00 target price on the stock. Wells Fargo & Company boosted their price target on Insulet from $290.00 to $305.00 and gave the company an "overweight" rating in a research note on Wednesday, December 11th. Finally, Piper Sandler upped 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. Three research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company's stock. According to data from MarketBeat.com, Insulet presently has an average rating of "Moderate Buy" and an average price target of $269.40.

Get Our Latest Stock Analysis on Insulet

Insulet Price Performance

Insulet stock traded down $0.56 during mid-day trading on Friday, hitting $265.12. The stock had a trading volume of 312,871 shares, compared to its average volume of 756,129. The company has a current ratio of 3.68, a quick ratio of 2.80 and a debt-to-equity ratio of 1.21. The firm's 50 day moving average is $257.71 and its 200 day moving average is $225.57. The firm has a market capitalization of $18.60 billion, a P/E ratio of 45.40, a P/E/G ratio of 4.12 and a beta of 1.21. Insulet Co. has a one year low of $160.19 and a one year high of $279.77.

Insulet Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Insulet (NASDAQ:PODD)

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