Principal Financial Group Inc. decreased its stake in Insulet Co. (NASDAQ:PODD) by 4.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 10,861 shares of the medical instruments supplier’s stock after selling 454 shares during the period. Principal Financial Group Inc.’s holdings in Insulet were worth $2,776,000 at the end of the most recent reporting period.
Several other institutional investors also recently made changes to their positions in the company. Janus Henderson Group PLC grew its stake in shares of Insulet by 31.4% in the fourth quarter. Janus Henderson Group PLC now owns 719,062 shares of the medical instruments supplier’s stock worth $183,814,000 after acquiring an additional 171,770 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in Insulet by 3.2% during the fourth quarter. Bank of New York Mellon Corp now owns 518,840 shares of the medical instruments supplier’s stock worth $132,631,000 after buying an additional 16,117 shares in the last quarter. Viking Global Investors LP boosted its stake in Insulet by 125.6% during the fourth quarter. Viking Global Investors LP now owns 483,529 shares of the medical instruments supplier’s stock worth $123,605,000 after buying an additional 269,197 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. boosted its stake in Insulet by 37.3% during the fourth quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 482,031 shares of the medical instruments supplier’s stock worth $123,222,000 after buying an additional 130,839 shares in the last quarter. Finally, Alliancebernstein L.P. boosted its stake in Insulet by 27.4% during the fourth quarter. Alliancebernstein L.P. now owns 422,632 shares of the medical instruments supplier’s stock worth $108,037,000 after buying an additional 90,865 shares in the last quarter.
Shares of Insulet stock opened at $283.64 on Friday. Insulet Co. has a 12-month low of $164.40 and a 12-month high of $298.43. The stock has a market cap of $18.78 billion, a P/E ratio of 644.65 and a beta of 0.76. The company has a quick ratio of 5.91, a current ratio of 6.62 and a debt-to-equity ratio of 1.55. The business’s 50 day moving average is $268.62 and its 200-day moving average is $261.23.
In related news, CEO Shacey Petrovic sold 15,000 shares of the stock in a transaction on Thursday, April 1st. The stock was sold at an average price of $266.17, for a total value of $3,992,550.00. Following the sale, the chief executive officer now owns 56,589 shares in the company, valued at approximately $15,062,294.13. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 1.10% of the stock is currently owned by corporate insiders.
A number of research analysts have issued reports on the company. Raymond James lifted their price objective on Insulet from $282.00 to $296.00 and gave the company an “outperform” rating in a report on Tuesday, March 2nd. Wells Fargo & Company reiterated a “buy” rating on shares of Insulet in a research report on Friday, January 15th. SVB Leerink upgraded Insulet from a “market perform” rating to an “outperform” rating and lifted their price objective for the stock from $275.00 to $320.00 in a research report on Thursday, April 1st. BTIG Research reiterated a “hold” rating on shares of Insulet in a research report on Monday, February 1st. Finally, Oppenheimer boosted their target price on Insulet from $235.00 to $277.00 and gave the stock a “market perform” rating in a research report on Wednesday, March 3rd. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and seven have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $250.94.
Insulet Corporation develops, manufactures, and sells insulin delivery systems for people with insulin-dependent diabetes. It offers Omnipod System, a self-adhesive disposable tubeless Omnipod device that is worn on the body for up to three days at a time, as well as wireless companion, the handheld personal diabetes manager.
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