Sumitomo Mitsui Trust Group Inc. Purchases 3,354 Shares of Insulet Co. (NASDAQ:PODD)

Sumitomo Mitsui Trust Group Inc. lifted its holdings in shares of Insulet Co. (NASDAQ:PODD) by 2.1% during the 4th quarter, Holdings Channel reports. The firm owned 159,680 shares of the medical instruments supplier’s stock after purchasing an additional 3,354 shares during the quarter. Sumitomo Mitsui Trust Group Inc.’s holdings in Insulet were worth $41,688,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. CWM LLC lifted its stake in Insulet by 3.4% during the 3rd quarter. CWM LLC now owns 3,984 shares of the medical instruments supplier’s stock valued at $927,000 after acquiring an additional 132 shares in the last quarter. Livforsakringsbolaget Skandia Omsesidigt increased its stake in shares of Insulet by 500.0% in the third quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 600 shares of the medical instruments supplier’s stock worth $139,000 after purchasing an additional 500 shares in the last quarter. Exchange Traded Concepts LLC bought a new stake in Insulet during the 3rd quarter valued at $121,000. Swedbank AB lifted its holdings in Insulet by 3.2% during the 3rd quarter. Swedbank AB now owns 21,232 shares of the medical instruments supplier’s stock worth $4,942,000 after purchasing an additional 655 shares in the last quarter. Finally, Cabot Wealth Management Inc. boosted its position in shares of Insulet by 1.7% in the third quarter. Cabot Wealth Management Inc. now owns 15,983 shares of the medical instruments supplier’s stock valued at $3,720,000 after acquiring an additional 262 shares during the period.

Insider Buying and Selling

In related news, CAO Lauren Budden sold 915 shares of the stock in a transaction on Tuesday, December 10th. The stock was sold at an average price of $275.62, for a total value of $252,192.30. Following the transaction, the chief accounting officer now directly owns 5,733 shares of the company’s stock, valued at approximately $1,580,129.46. This trade represents a 13.76 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Eric Benjamin sold 12,394 shares of the firm’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 directly owns 11,383 shares in the company, valued at approximately $3,187,240. This represents a 52.13 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.47% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently weighed in on the stock. BTIG Research upped their price objective 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. Raymond James increased their price objective on Insulet from $213.00 to $260.00 and gave the company an “outperform” rating in a research note on Monday, October 14th. Wells Fargo & Company boosted their price target on Insulet from $290.00 to $305.00 and gave the company an “overweight” rating in a report on Wednesday, December 11th. JPMorgan Chase & Co. upped their price objective on shares of Insulet from $280.00 to $330.00 and gave the stock an “overweight” rating in a report on Thursday, December 12th. Finally, Sanford C. Bernstein initiated coverage on Insulet in a research note on Wednesday, November 6th. They issued an “outperform” rating and a $300.00 price target on the stock. Two analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $277.13.

Insulet Price Performance

Shares of PODD opened at $285.34 on Tuesday. The firm’s fifty day simple moving average is $270.65 and its 200-day simple moving average is $242.24. 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 capitalization of $20.01 billion, a price-to-earnings ratio of 48.86, a PEG ratio of 3.61 and a beta of 1.23. Insulet Co. has a twelve month low of $160.19 and a twelve month high of $289.46.

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.