Fifth Third Bancorp Grows Stake in Insulet Co. (NASDAQ:PODD)

Fifth Third Bancorp increased its stake in Insulet Co. (NASDAQ:PODD) by 1.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 8,560 shares of the medical instruments supplier’s stock after purchasing an additional 116 shares during the quarter. Fifth Third Bancorp’s holdings in Insulet were worth $2,235,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of PODD. CX Institutional purchased a new position in shares of Insulet during the 4th quarter valued at $238,000. RFG Advisory LLC bought a new stake in Insulet in the 4th quarter valued at about $247,000. Donoghue Forlines LLC purchased a new stake in Insulet during the fourth quarter valued at about $2,039,000. Whalen Wealth Management Inc. bought a new position in Insulet during the fourth quarter worth about $257,000. Finally, SG Americas Securities LLC increased its stake in shares of Insulet by 295.9% in the fourth quarter. SG Americas Securities LLC now owns 23,892 shares of the medical instruments supplier’s stock worth $6,237,000 after purchasing an additional 17,857 shares in the last quarter.

Insulet Price Performance

PODD opened at $275.89 on Tuesday. 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 stock has a market capitalization of $19.35 billion, a P/E ratio of 47.24, a PEG ratio of 3.50 and a beta of 1.22. The stock has a 50-day moving average price of $267.55 and a 200-day moving average price of $236.30. Insulet Co. has a 12-month low of $160.19 and a 12-month high of $282.87.

Insulet (NASDAQ:PODD) last issued its quarterly earnings results on Thursday, November 7th. The medical instruments supplier reported $0.90 EPS for the quarter, beating analysts’ consensus estimates of $0.77 by $0.13. The business had revenue of $543.90 million for the quarter, compared to analysts’ expectations of $518.50 million. Insulet had a net margin of 21.22% and a return on equity of 27.98%. During the same period last year, the business earned $0.71 earnings per share. Equities analysts predict that Insulet Co. will post 3.22 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on PODD. BTIG Research upped their price target on shares of Insulet from $260.00 to $270.00 and gave the company a “buy” rating in a research note on Friday, November 8th. Canaccord Genuity Group raised their price target on Insulet from $269.00 to $304.00 and gave the stock a “buy” rating in a report on Monday, December 9th. Sanford C. Bernstein assumed coverage on Insulet in a research note on Wednesday, November 6th. They set an “outperform” rating and a $300.00 price objective on the stock. Wells Fargo & Company raised their target price on Insulet from $290.00 to $305.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 11th. Finally, Raymond James increased their price target on shares of Insulet from $213.00 to $260.00 and gave the stock an “outperform” rating in a report on Monday, October 14th. Three equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $272.81.

Insiders Place Their Bets

In related news, EVP Eric Benjamin sold 12,394 shares of Insulet stock in a transaction on Tuesday, January 21st. The shares were sold at an average price of $280.00, for a total value of $3,470,320.00. Following the transaction, the executive vice president now directly owns 11,383 shares of the company’s stock, valued at $3,187,240. The trade was a 52.13 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CAO Lauren Budden sold 915 shares of the stock in a transaction on Tuesday, December 10th. The shares were sold at an average price of $275.62, for a total transaction of $252,192.30. Following the sale, the chief accounting officer now directly owns 5,733 shares of the company’s stock, valued at $1,580,129.46. The trade was a 13.76 % decrease in their position. The disclosure for this sale can be found here. 0.47% of the stock is currently owned by insiders.

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.