PNC Financial Services Group Inc. Has $3.40 Million Stock Holdings in Insulet Co. (NASDAQ:PODD)

PNC Financial Services Group Inc. raised its position in Insulet Co. (NASDAQ:PODD) by 0.5% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 13,028 shares of the medical instruments supplier’s stock after buying an additional 59 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Insulet were worth $3,401,000 at the end of the most recent reporting period.

Other institutional investors have also recently modified their holdings of the company. Venturi Wealth Management LLC lifted its position in shares of 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 acquiring an additional 133 shares during the period. SBI Securities Co. Ltd. bought a new stake in shares of Insulet during the 4th quarter valued at $36,000. SRS Capital Advisors Inc. lifted its position in shares of Insulet by 43.1% during the 4th quarter. SRS Capital Advisors Inc. now owns 186 shares of the medical instruments supplier’s stock valued at $49,000 after acquiring an additional 56 shares during the period. TD Private Client Wealth LLC lifted its position in shares of 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 acquiring an additional 56 shares during the period. Finally, Friedenthal Financial bought a new stake in shares of Insulet during the 4th quarter valued at $57,000.

Wall Street Analyst Weigh In

PODD has been the subject of a number of recent analyst reports. 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. TD Cowen upped their price objective on Insulet from $264.00 to $324.00 and gave the stock a “buy” rating in a research report on Friday, January 3rd. StockNews.com downgraded Insulet from a “buy” rating to a “hold” rating in a research report on Tuesday, March 4th. Canaccord Genuity Group upped their price objective on Insulet from $304.00 to $324.00 and gave the stock a “buy” rating in a research report on Friday, February 21st. Finally, JPMorgan Chase & Co. upped their price objective on Insulet from $280.00 to $330.00 and gave the stock an “overweight” rating in a research report on Thursday, December 12th. Four research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat, Insulet currently has an average rating of “Moderate Buy” and a consensus target price of $292.06.

Insulet Price Performance

Insulet stock opened at $244.67 on Friday. 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 company has a market capitalization of $17.18 billion, a PE ratio of 42.26, a P/E/G ratio of 3.62 and a beta of 1.29. Insulet Co. has a 12 month low of $160.19 and a 12 month high of $289.46. The stock has a 50-day moving average price of $273.00 and a two-hundred day moving average price of $254.08.

Insulet (NASDAQ:PODD) last issued its quarterly earnings results 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. The company had revenue of $597.50 million during the quarter, compared to analysts’ expectations of $582.02 million. Insulet had a return on equity of 24.46% and a net margin of 20.19%. Analysts expect that Insulet Co. will post 3.92 EPS for the current year.

Insider Activity

In other news, EVP Eric Benjamin sold 12,394 shares of the stock in a transaction dated Tuesday, January 21st. The stock was sold at an average price of $280.00, for a total value of $3,470,320.00. Following the completion of the sale, the executive vice president now owns 11,383 shares of the company’s stock, valued at approximately $3,187,240. This represents a 52.13 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 0.47% of the company’s stock.

About Insulet

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.