Swedbank AB Raises Position in Insulet Co. (NASDAQ:PODD)

Swedbank AB grew its position in shares of Insulet Co. (NASDAQ:PODD) by 3.2% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 21,232 shares of the medical instruments supplier’s stock after purchasing an additional 655 shares during the period. Swedbank AB’s holdings in Insulet were worth $4,942,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Marshall Wace LLP purchased a new stake in Insulet during the 2nd quarter worth $99,978,000. Baillie Gifford & Co. increased its position in shares of Insulet by 30.8% during the second quarter. Baillie Gifford & Co. now owns 1,886,062 shares of the medical instruments supplier’s stock worth $380,607,000 after acquiring an additional 443,783 shares during the last quarter. Mizuho Securities USA LLC lifted its stake in shares of Insulet by 5,928.1% in the third quarter. Mizuho Securities USA LLC now owns 325,821 shares of the medical instruments supplier’s stock worth $75,835,000 after acquiring an additional 320,416 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in Insulet by 43.8% in the third quarter. Charles Schwab Investment Management Inc. now owns 636,265 shares of the medical instruments supplier’s stock valued at $148,091,000 after purchasing an additional 193,839 shares during the last quarter. Finally, American Century Companies Inc. grew its stake in Insulet by 18.7% during the 2nd quarter. American Century Companies Inc. now owns 885,669 shares of the medical instruments supplier’s stock valued at $178,728,000 after purchasing an additional 139,246 shares in the last quarter.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on PODD shares. Sanford C. Bernstein assumed coverage on Insulet in a research note on Wednesday, November 6th. They set an “outperform” rating and a $300.00 target price for the company. BTIG Research raised their price objective on shares of Insulet from $260.00 to $270.00 and gave the stock a “buy” rating in a report on Friday, November 8th. Citigroup boosted their target price on shares of Insulet from $250.00 to $275.00 and gave the stock a “buy” rating in a research report on Tuesday, October 1st. UBS Group increased their price target on shares of Insulet from $211.00 to $223.00 and gave the stock a “neutral” rating in a research report on Friday, August 9th. Finally, Piper Sandler upped their price objective on Insulet from $230.00 to $285.00 and gave the company an “overweight” rating in a research note on Tuesday, September 17th. Three analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to MarketBeat, Insulet currently has a consensus rating of “Moderate Buy” and a consensus target price of $253.27.

Insulet Stock Up 0.2 %

PODD stock opened at $266.92 on Thursday. The firm’s 50-day moving average is $242.59 and its two-hundred day moving average is $212.36. The company has a market capitalization of $18.72 billion, a price-to-earnings ratio of 45.71, a price-to-earnings-growth ratio of 4.08 and a beta of 1.22. Insulet Co. has a 52 week low of $160.19 and a 52 week high of $279.40. The company has a current ratio of 3.68, a quick ratio of 2.80 and a debt-to-equity ratio of 1.21.

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.