Citizens Financial Group Inc. RI Invests $341,000 in Insulet Co. (NASDAQ:PODD)

Citizens Financial Group Inc. RI bought a new stake in Insulet Co. (NASDAQ:PODD) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 1,308 shares of the medical instruments supplier’s stock, valued at approximately $341,000.

A number of other hedge funds and other institutional investors also recently bought and sold shares of PODD. Janney Montgomery Scott LLC increased its holdings in shares of Insulet by 7.5% in the 3rd quarter. Janney Montgomery Scott LLC now owns 5,661 shares of the medical instruments supplier’s stock valued at $1,318,000 after acquiring an additional 394 shares during the last quarter. Principal Financial Group Inc. increased its stake in Insulet by 4.0% in the third quarter. Principal Financial Group Inc. now owns 86,210 shares of the medical instruments supplier’s stock valued at $20,065,000 after purchasing an additional 3,355 shares during the last quarter. Venturi Wealth Management LLC increased its stake in Insulet by 633.3% in the third quarter. Venturi Wealth Management LLC now owns 154 shares of the medical instruments supplier’s stock valued at $36,000 after purchasing an additional 133 shares during the last quarter. GSA Capital Partners LLP acquired a new stake in Insulet during the third quarter worth approximately $1,017,000. Finally, OVERSEA CHINESE BANKING Corp Ltd lifted its position in shares of Insulet by 4.7% during the 3rd quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 1,076 shares of the medical instruments supplier’s stock worth $250,000 after buying an additional 48 shares during the last quarter.

Analyst Ratings Changes

Several equities research analysts recently commented on the stock. Royal Bank of Canada initiated coverage on shares of Insulet in a research note on Thursday, March 6th. They set an “outperform” rating and a $340.00 price target on the stock. Piper Sandler lifted their target price on Insulet from $285.00 to $310.00 and gave the stock an “overweight” rating in a research report on Friday, February 21st. Citigroup upped their target price on Insulet from $310.00 to $355.00 and gave the company a “buy” rating in a research report on Friday, February 21st. Raymond James reaffirmed an “outperform” rating and set a $328.00 price target (up previously from $294.00) on shares of Insulet in a research report on Friday, February 21st. Finally, Canaccord Genuity Group increased their price objective 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.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $292.06.

Insiders Place Their Bets

In other news, EVP Eric Benjamin sold 12,394 shares of the business’s stock in a transaction that occurred on Tuesday, January 21st. The stock was sold at an average price of $280.00, for a total transaction of $3,470,320.00. Following the sale, the executive vice president now owns 11,383 shares of the company’s stock, valued at $3,187,240. The trade was a 52.13 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.47% of the stock is currently owned by company insiders.

Insulet Stock Performance

NASDAQ PODD opened at $244.67 on Friday. The stock has a market capitalization of $17.18 billion, a price-to-earnings ratio of 42.26, a PEG ratio of 3.62 and a beta of 1.29. The business’s 50 day moving average is $273.00 and its two-hundred day moving average is $254.08. Insulet Co. has a 12-month low of $160.19 and a 12-month high of $289.46. 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 (NASDAQ:PODD) last announced its quarterly earnings data on Thursday, February 20th. The medical instruments supplier reported $1.15 earnings per share for the quarter, topping analysts’ consensus estimates of $1.00 by $0.15. Insulet had a return on equity of 24.46% and a net margin of 20.19%. The firm had revenue of $597.50 million for the quarter, compared to analyst estimates of $582.02 million. Research analysts expect that Insulet Co. will post 3.92 EPS for the current year.

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.