Insulet Co. (NASDAQ:PODD) Shares Purchased by Huntington National Bank

Huntington National Bank raised its stake in Insulet Co. (NASDAQ:PODD) by 27.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 907 shares of the medical instruments supplier’s stock after acquiring an additional 196 shares during the quarter. Huntington National Bank’s holdings in Insulet were worth $237,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Integrated Wealth Concepts LLC lifted its stake in shares of Insulet by 1.7% in the 3rd quarter. Integrated Wealth Concepts LLC now owns 2,561 shares of the medical instruments supplier’s stock valued at $596,000 after purchasing an additional 42 shares during the period. Horizon Investments LLC boosted its stake in shares of Insulet by 3.1% during the 4th quarter. Horizon Investments LLC now owns 1,387 shares of the medical instruments supplier’s stock worth $362,000 after acquiring an additional 42 shares in the last quarter. Nisa Investment Advisors LLC boosted its stake in shares of Insulet by 1.0% during the 4th quarter. Nisa Investment Advisors LLC now owns 4,388 shares of the medical instruments supplier’s stock worth $1,146,000 after acquiring an additional 43 shares in the last quarter. Graypoint LLC raised its holdings in Insulet by 5.3% in the 4th quarter. Graypoint LLC now owns 930 shares of the medical instruments supplier’s stock worth $243,000 after purchasing an additional 47 shares during the period. Finally, Wilmington Savings Fund Society FSB boosted its position in Insulet by 9.6% during the fourth quarter. Wilmington Savings Fund Society FSB now owns 538 shares of the medical instruments supplier’s stock worth $140,000 after purchasing an additional 47 shares in the last quarter.

Insiders Place Their Bets

In other Insulet news, Director Wayne A.I. Frederick sold 1,825 shares of the stock in a transaction that occurred on Tuesday, March 25th. The shares were sold at an average price of $275.00, for a total value of $501,875.00. Following the transaction, the director now directly owns 3,231 shares in the company, valued at $888,525. This represents a 36.10 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Eric Benjamin sold 12,394 shares of the company’s stock in a transaction on Tuesday, January 21st. The shares were sold at an average price of $280.00, for a total transaction of $3,470,320.00. Following the completion of the transaction, the executive vice president now owns 11,383 shares of the company’s stock, valued at approximately $3,187,240. The trade was a 52.13 % decrease in their position. The disclosure for this sale can be found here. 0.47% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

PODD has been the subject of several research analyst reports. TD Cowen upped their target price on Insulet from $264.00 to $324.00 and gave the stock a “buy” rating in a research note on Friday, January 3rd. Piper Sandler increased their price objective on shares of Insulet from $285.00 to $310.00 and gave the company an “overweight” rating in a report on Friday, February 21st. Royal Bank of Canada started coverage on shares of Insulet in a research note on Thursday, March 6th. They set an “outperform” rating and a $340.00 target price for the company. Citigroup raised their price target on shares of Insulet from $310.00 to $355.00 and gave the company a “buy” rating in a research note on Friday, February 21st. Finally, Canaccord Genuity Group increased their target price on Insulet from $304.00 to $324.00 and gave the company a “buy” rating in a report on Friday, February 21st. Four investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $292.06.

Insulet Stock Down 4.5 %

Shares of PODD opened at $245.26 on Friday. 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 has a market cap of $17.22 billion, a P/E ratio of 42.36, a price-to-earnings-growth ratio of 3.62 and a beta of 1.30. The company’s 50-day moving average price is $269.86 and its 200 day moving average price is $259.70. Insulet Co. has a 12-month low of $160.19 and a 12-month high of $289.46.

Insulet (NASDAQ:PODD) last issued its quarterly earnings results on Thursday, February 20th. The medical instruments supplier reported $1.15 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.00 by $0.15. Insulet had a net margin of 20.19% and a return on equity of 24.46%. The company had revenue of $597.50 million for the quarter, compared to analyst estimates of $582.02 million. On average, sell-side analysts forecast that Insulet Co. will post 3.92 earnings per share for the current year.

About Insulet

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.