ING Groep NV Buys Shares of 2,130 Insulet Co. (NASDAQ:PODD)

ING Groep NV bought a new stake in shares of Insulet Co. (NASDAQ:PODD) in the fourth quarter, Holdings Channel reports. The fund bought 2,130 shares of the medical instruments supplier’s stock, valued at approximately $556,000.

Other hedge funds have also added to or reduced their stakes in the company. Blue Trust Inc. grew its holdings in Insulet by 84.1% during the 3rd quarter. Blue Trust Inc. now owns 127 shares of the medical instruments supplier’s stock valued at $30,000 after buying an additional 58 shares in the last quarter. Venturi Wealth Management LLC grew its holdings in Insulet by 633.3% during the 3rd quarter. Venturi Wealth Management LLC now owns 154 shares of the medical instruments supplier’s stock valued at $36,000 after buying an additional 133 shares in the last quarter. Friedenthal Financial purchased a new position in Insulet during the 4th quarter valued at about $57,000. TD Private Client Wealth LLC grew its holdings in Insulet by 32.6% during the 3rd quarter. TD Private Client Wealth LLC now owns 228 shares of the medical instruments supplier’s stock valued at $53,000 after buying an additional 56 shares in the last quarter. Finally, Versant Capital Management Inc grew its holdings in Insulet by 106.1% during the 4th quarter. Versant Capital Management Inc now owns 305 shares of the medical instruments supplier’s stock valued at $80,000 after buying an additional 157 shares in the last quarter.

Insulet Stock Performance

Shares of PODD stock opened at $283.48 on Tuesday. The company has a debt-to-equity ratio of 1.21, a quick ratio of 2.80 and a current ratio of 3.68. Insulet Co. has a fifty-two week low of $160.19 and a fifty-two week high of $289.46. The stock has a 50 day moving average price of $273.33 and a two-hundred day moving average price of $248.46. The company has a market capitalization of $19.88 billion, a P/E ratio of 48.96, a PEG ratio of 3.62 and a beta of 1.23.

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, beating the consensus estimate 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 during the quarter, compared to the consensus estimate of $582.02 million. Analysts expect that Insulet Co. will post 3.92 earnings per share for the current year.

Analyst Ratings Changes

Several brokerages have recently commented on PODD. Raymond James reissued an “outperform” rating and set a $328.00 price objective (up previously from $294.00) on shares of Insulet in a report on Friday. Piper Sandler boosted their price objective on Insulet from $285.00 to $310.00 and gave the stock an “overweight” rating in a report on Friday. TD Cowen boosted their price objective on Insulet from $264.00 to $324.00 and gave the stock a “buy” rating in a report on Friday, January 3rd. Stifel Nicolaus boosted their price objective on Insulet from $245.00 to $293.00 and gave the stock a “hold” rating in a report on Friday. Finally, Canaccord Genuity Group boosted their price objective on Insulet from $304.00 to $324.00 and gave the stock a “buy” rating in a report on Friday. Three investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat.com, Insulet has a consensus rating of “Moderate Buy” and a consensus price target of $289.06.

Insider Buying and Selling at Insulet

In related news, EVP Eric Benjamin sold 12,394 shares of the company’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 completion of the transaction, the executive vice president now owns 11,383 shares in the company, valued at $3,187,240. This represents a 52.13 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Lauren Budden sold 915 shares of the company’s stock in a transaction that occurred on Tuesday, December 10th. The shares were sold at an average price of $275.62, for a total value of $252,192.30. Following 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 position. The disclosure for this sale can be found here. Corporate insiders own 0.47% of the company’s stock.

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.