Principal Financial Group Inc. Buys 896 Shares of Insulet Co. (NASDAQ:PODD)

Principal Financial Group Inc. raised its stake in Insulet Co. (NASDAQ:PODD) by 1.1% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 82,855 shares of the medical instruments supplier’s stock after purchasing an additional 896 shares during the quarter. Principal Financial Group Inc. owned approximately 0.12% of Insulet worth $16,720,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Capital Research Global Investors increased its holdings in Insulet by 19.7% during the fourth quarter. Capital Research Global Investors now owns 9,476,623 shares of the medical instruments supplier’s stock worth $2,056,255,000 after buying an additional 1,556,455 shares during the last quarter. Vanguard Group Inc. increased its stake in shares of Insulet by 2.1% during the 1st quarter. Vanguard Group Inc. now owns 8,199,114 shares of the medical instruments supplier’s stock worth $1,405,328,000 after purchasing an additional 169,506 shares during the last quarter. Baillie Gifford & Co. raised its holdings in shares of Insulet by 30.8% in the 2nd quarter. Baillie Gifford & Co. now owns 1,886,062 shares of the medical instruments supplier’s stock valued at $380,607,000 after purchasing an additional 443,783 shares during the period. Norges Bank acquired a new stake in Insulet in the 4th quarter valued at about $227,655,000. Finally, William Blair Investment Management LLC grew its holdings in Insulet by 3.7% during the first quarter. William Blair Investment Management LLC now owns 952,268 shares of the medical instruments supplier’s stock worth $163,219,000 after purchasing an additional 33,579 shares during the period.

Wall Street Analyst Weigh In

Several research firms have issued reports on PODD. Raymond James dropped their price objective on Insulet from $218.00 to $213.00 and set an “outperform” rating on the stock in a research note on Friday, May 10th. UBS Group raised their price target on Insulet from $211.00 to $223.00 and gave the company a “neutral” rating in a report on Friday, August 9th. Redburn Atlantic started coverage on shares of Insulet in a report on Thursday, May 30th. They issued a “buy” rating and a $235.00 price objective on the stock. BTIG Research cut their target price on shares of Insulet from $270.00 to $250.00 and set a “buy” rating for the company in a research note on Friday, August 9th. Finally, Barclays lifted their target price on shares of Insulet from $200.00 to $220.00 and gave the stock an “equal weight” rating in a report on Monday, August 12th. Four analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $225.29.

Insulet Price Performance

Insulet stock opened at $212.51 on Thursday. The stock’s fifty day moving average price is $195.70 and its two-hundred day moving average price is $183.93. The firm has a market cap of $14.90 billion, a PE ratio of 64.40, a price-to-earnings-growth ratio of 3.79 and a beta of 1.21. The company has a debt-to-equity ratio of 1.36, a current ratio of 3.60 and a quick ratio of 2.71. Insulet Co. has a one year low of $125.82 and a one year high of $223.56.

Insulet (NASDAQ:PODD) last posted its quarterly earnings results on Thursday, August 8th. The medical instruments supplier reported $0.55 EPS for the quarter, missing analysts’ consensus estimates of $0.56 by ($0.01). The company had revenue of $488.50 million during the quarter, compared to analyst estimates of $488.00 million. Insulet had a net margin of 21.11% and a return on equity of 30.73%. The firm’s revenue for the quarter was up 23.2% compared to the same quarter last year. During the same period last year, the firm earned $0.38 EPS. As a group, research analysts expect that Insulet Co. will post 3.04 EPS for the current fiscal year.

Insider Transactions at Insulet

In other Insulet news, SVP Mark N. Field sold 2,131 shares of the business’s stock in a transaction that occurred on Monday, June 10th. The shares were sold at an average price of $190.43, for a total transaction of $405,806.33. Following the completion of the transaction, the senior vice president now directly owns 14,375 shares in the company, valued at $2,737,431.25. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, Director Timothy J. Scannell sold 7,000 shares of the firm’s stock in a transaction that occurred on Monday, June 10th. The shares were sold at an average price of $190.51, for a total value of $1,333,570.00. Following the sale, the director now directly owns 35,586 shares in the company, valued at approximately $6,779,488.86. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP Mark N. Field sold 2,131 shares of the company’s stock in a transaction that occurred on Monday, June 10th. The stock was sold at an average price of $190.43, for a total transaction of $405,806.33. Following the transaction, the senior vice president now owns 14,375 shares of the company’s stock, valued at $2,737,431.25. The disclosure for this sale can be found here. In the last 90 days, insiders sold 10,631 shares of company stock valued at $2,039,316. Company insiders own 0.47% of the company’s stock.

Insulet 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.