Huntington National Bank Increases Stake in Insulet Co. (NASDAQ:PODD)

Huntington National Bank boosted its stake in Insulet Co. (NASDAQ:PODD) by 53.9% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 711 shares of the medical instruments supplier’s stock after purchasing an additional 249 shares during the quarter. Huntington National Bank’s holdings in Insulet were worth $165,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently bought and sold shares of PODD. Oppenheimer Asset Management Inc. grew its stake in shares of Insulet by 2.9% during the 3rd quarter. Oppenheimer Asset Management Inc. now owns 21,226 shares of the medical instruments supplier’s stock valued at $4,940,000 after buying an additional 604 shares during the period. Victory Capital Management Inc. boosted its holdings in Insulet by 5.1% in the third quarter. Victory Capital Management Inc. now owns 35,706 shares of the medical instruments supplier’s stock valued at $8,311,000 after acquiring an additional 1,724 shares during the last quarter. Prime Capital Investment Advisors LLC purchased a new stake in Insulet during the third quarter valued at about $265,000. Sumitomo Mitsui Trust Group Inc. increased its stake in Insulet by 3.5% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 156,326 shares of the medical instruments supplier’s stock worth $36,385,000 after acquiring an additional 5,226 shares during the last quarter. Finally, Baillie Gifford & Co. lifted its stake in shares of Insulet by 20.7% in the 3rd quarter. Baillie Gifford & Co. now owns 2,275,701 shares of the medical instruments supplier’s stock valued at $529,669,000 after purchasing an additional 389,639 shares in the last quarter.

Wall Street Analysts Forecast Growth

PODD has been the subject of a number of research analyst reports. BTIG Research increased their target price on shares of Insulet from $260.00 to $270.00 and gave the stock a “buy” rating in a research report on Friday, November 8th. Sanford C. Bernstein started coverage on shares of Insulet in a research note on Wednesday, November 6th. They issued an “outperform” rating and a $300.00 target price on the stock. Piper Sandler lifted their target price on shares of Insulet from $230.00 to $285.00 and gave the company an “overweight” rating in a report on Tuesday, September 17th. Citigroup increased their price target on Insulet from $250.00 to $275.00 and gave the company a “buy” rating in a report on Tuesday, October 1st. Finally, Raymond James boosted their price objective on Insulet from $213.00 to $260.00 and gave the stock an “outperform” rating in a research note on Monday, October 14th. Three analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Insulet has a consensus rating of “Moderate Buy” and an average target price of $253.27.

Insulet Price Performance

Shares of NASDAQ PODD opened at $260.12 on Monday. The firm has a market cap of $18.24 billion, a PE ratio of 44.54, a price-to-earnings-growth ratio of 3.98 and a beta of 1.22. 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 business has a 50 day moving average price of $237.77 and a two-hundred day moving average price of $207.98. Insulet Co. has a fifty-two week low of $160.19 and a fifty-two week 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.