Principal Financial Group Inc. Acquires 3,355 Shares of Insulet Co. (NASDAQ:PODD)

Principal Financial Group Inc. grew its stake in shares of Insulet Co. (NASDAQ:PODD) by 4.0% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 86,210 shares of the medical instruments supplier’s stock after buying an additional 3,355 shares during the period. Principal Financial Group Inc. owned 0.12% of Insulet worth $20,065,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. QRG Capital Management Inc. purchased a new stake in shares of Insulet during the 3rd quarter valued at $297,000. Fisher Asset Management LLC lifted its position in Insulet by 0.9% in the third quarter. Fisher Asset Management LLC now owns 351,100 shares of the medical instruments supplier’s stock valued at $81,719,000 after purchasing an additional 3,113 shares during the last quarter. Orion Portfolio Solutions LLC boosted its position in Insulet by 86.2% during 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. boosted its holdings in shares of Insulet by 5.7% during the third quarter. Nomura Asset Management Co. Ltd. now owns 153,416 shares of the medical instruments supplier’s stock worth $35,708,000 after purchasing an additional 8,301 shares during the period. Finally, Stifel Financial Corp grew its position in shares of Insulet by 2.8% in the 3rd quarter. Stifel Financial Corp now owns 10,527 shares of the medical instruments supplier’s stock worth $2,450,000 after buying an additional 290 shares during the last quarter.

Insider Activity

In other Insulet news, CAO Lauren Budden sold 915 shares of the stock in a transaction dated Tuesday, December 10th. The stock was sold at an average price of $275.62, for a total value of $252,192.30. Following the completion of the sale, the chief accounting officer now directly owns 5,733 shares in the company, 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 filing with the SEC, which can be accessed through the SEC website. Company insiders own 0.47% of the company’s stock.

Insulet Trading Up 0.9 %

NASDAQ:PODD opened at $265.68 on Friday. The stock has a market capitalization of $18.64 billion, a price-to-earnings ratio of 45.49, a PEG ratio of 4.12 and a beta of 1.21. Insulet Co. has a 52 week low of $160.19 and a 52 week high of $279.77. The company has a quick ratio of 2.80, a current ratio of 3.68 and a debt-to-equity ratio of 1.21. The firm has a 50 day moving average of $257.14 and a 200 day moving average of $225.06.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on PODD. Barclays boosted their price target on shares of Insulet from $220.00 to $234.00 and gave the company an “equal weight” rating in a research report on Monday, November 11th. Citigroup increased their target price on Insulet from $283.00 to $310.00 and gave the company a “buy” rating in a research note on Wednesday, December 11th. Piper Sandler raised their target price on shares of Insulet from $230.00 to $285.00 and gave the stock an “overweight” rating in a report on Tuesday, September 17th. Raymond James upped their target price on shares of Insulet from $213.00 to $260.00 and gave the company an “outperform” rating in a report on Monday, October 14th. Finally, Wells Fargo & Company lifted their price target on shares of Insulet from $290.00 to $305.00 and gave the company an “overweight” rating in a report on Wednesday, December 11th. Three analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $269.40.

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.