Insulet Co. (NASDAQ:PODD) Shares Bought by Principal Financial Group Inc.

Principal Financial Group Inc. grew its position in Insulet Co. (NASDAQ:PODD - Free Report) by 4.0% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor 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. owned 0.12% of Insulet worth $20,065,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently bought and sold shares of the company. Sei Investments Co. boosted its position in Insulet by 16.2% in the 1st quarter. Sei Investments Co. now owns 11,782 shares of the medical instruments supplier's stock valued at $2,019,000 after buying an additional 1,639 shares during the period. State Board of Administration of Florida Retirement System boosted its stake in shares of Insulet by 3.8% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 78,435 shares of the medical instruments supplier's stock valued at $13,444,000 after buying an additional 2,847 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. increased its stake in shares of Insulet by 22.3% during the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 78,391 shares of the medical instruments supplier's stock worth $13,436,000 after buying an additional 14,289 shares during the period. Mitsubishi UFJ Trust & Banking Corp raised its holdings in Insulet by 246.2% in the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 135,547 shares of the medical instruments supplier's stock valued at $23,168,000 after acquiring an additional 96,390 shares in the last quarter. Finally, Intech Investment Management LLC grew its holdings in Insulet by 113.8% during the 1st quarter. Intech Investment Management LLC now owns 6,649 shares of the medical instruments supplier's stock worth $1,140,000 after acquiring an additional 3,539 shares in the last quarter.

Wall Street Analyst Weigh In

PODD has been the subject of several recent analyst reports. Citigroup lifted their price objective on shares of Insulet from $250.00 to $275.00 and gave the stock a "buy" rating in a research report on Tuesday, October 1st. Morgan Stanley increased their price objective on Insulet from $234.00 to $317.00 and gave the company an "overweight" rating in a report on Monday. UBS Group boosted their target price on Insulet from $211.00 to $223.00 and gave the stock a "neutral" rating in a research note on Friday, August 9th. Sanford C. Bernstein began coverage on shares of Insulet in a research note on Wednesday, November 6th. They issued an "outperform" rating and a $300.00 price target on the stock. Finally, Barclays upped their target price on shares of Insulet from $220.00 to $234.00 and gave the company an "equal weight" rating in a report on Monday. Three equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $253.27.

Insulet Stock Performance

Shares of NASDAQ PODD traded down $7.90 during mid-day trading on Thursday, hitting $261.16. 708,175 shares of the company were exchanged, compared to its average volume of 779,751. The firm has a market cap of $18.32 billion, a price-to-earnings ratio of 46.07, a price-to-earnings-growth ratio of 4.26 and a beta of 1.22. The stock has a 50 day simple moving average of $235.96 and a 200-day simple moving average of $206.47. 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 Co. has a 1-year low of $160.19 and a 1-year high of $279.40.

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.