Synovus Financial Corp Grows Holdings in Insulet Co. (NASDAQ:PODD)

Synovus Financial Corp raised its position in Insulet Co. (NASDAQ:PODD) by 36.1% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,929 shares of the medical instruments supplier’s stock after buying an additional 777 shares during the period. Synovus Financial Corp’s holdings in Insulet were worth $682,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Baillie Gifford & Co. boosted its holdings in Insulet by 20.7% in the third 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 during the last quarter. Geode Capital Management LLC boosted its stake in shares of Insulet by 1.3% during the 3rd quarter. Geode Capital Management LLC now owns 1,738,601 shares of the medical instruments supplier’s stock valued at $403,339,000 after buying an additional 22,850 shares during the last quarter. Clearbridge Investments LLC boosted its stake in shares of Insulet by 6.0% during the 2nd quarter. Clearbridge Investments LLC now owns 1,339,763 shares of the medical instruments supplier’s stock valued at $270,364,000 after buying an additional 75,526 shares during the last quarter. American Century Companies Inc. increased its stake in shares of Insulet by 18.7% in the second quarter. American Century Companies Inc. now owns 885,669 shares of the medical instruments supplier’s stock worth $178,728,000 after buying an additional 139,246 shares during the last quarter. Finally, Westfield Capital Management Co. LP increased its stake in shares of Insulet by 27.6% in the third quarter. Westfield Capital Management Co. LP now owns 754,872 shares of the medical instruments supplier’s stock worth $175,697,000 after buying an additional 163,388 shares during the last quarter.

Analysts Set New Price Targets

Several research analysts have weighed in on the stock. Citigroup raised their price objective on shares of Insulet from $283.00 to $310.00 and gave the stock a “buy” rating in a report on Wednesday, December 11th. Barclays lifted their price target on Insulet from $220.00 to $234.00 and gave the stock an “equal weight” rating in a research note on Monday, November 11th. BTIG Research upped their price objective on Insulet from $260.00 to $270.00 and gave the company a “buy” rating in a research note on Friday, November 8th. Wells Fargo & Company lifted their target price on Insulet from $290.00 to $305.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 11th. Finally, Sanford C. Bernstein assumed coverage on Insulet in a research report on Wednesday, November 6th. They set an “outperform” rating and a $300.00 price target on the stock. Three equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $267.44.

Insider Activity

In other 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 completion of the transaction, the chief accounting officer now owns 5,733 shares of the company’s stock, valued at approximately $1,580,129.46. This represents a 13.76 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Corporate insiders own 0.47% of the company’s stock.

Insulet Trading Down 0.8 %

Insulet stock opened at $263.35 on Wednesday. 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 market capitalization of $18.47 billion, a price-to-earnings ratio of 45.09, a PEG ratio of 4.12 and a beta of 1.21. The firm has a 50-day moving average price of $252.81 and a two-hundred day moving average price of $221.89.

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.