Insulet Co. (NASDAQ:PODD) Shares Acquired by Russell Investments Group Ltd.

Russell Investments Group Ltd. increased its stake in Insulet Co. (NASDAQ:PODD) by 8.3% during the second quarter, HoldingsChannel.com reports. The fund owned 74,902 shares of the medical instruments supplier’s stock after buying an additional 5,728 shares during the period. Russell Investments Group Ltd.’s holdings in Insulet were worth $21,613,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of PODD. Ethic Inc. boosted its position in shares of Insulet by 30.3% in the first quarter. Ethic Inc. now owns 2,530 shares of the medical instruments supplier’s stock worth $807,000 after buying an additional 589 shares during the period. Private Advisor Group LLC acquired a new stake in shares of Insulet in the first quarter worth $468,000. Rhumbline Advisers boosted its position in shares of Insulet by 78.8% in the first quarter. Rhumbline Advisers now owns 151,577 shares of the medical instruments supplier’s stock worth $48,347,000 after buying an additional 66,814 shares during the period. Retirement Systems of Alabama acquired a new stake in shares of Insulet in the first quarter worth $6,547,000. Finally, Ontario Teachers Pension Plan Board acquired a new stake in shares of Insulet in the first quarter worth $249,000.

Insulet Price Performance

NASDAQ PODD opened at $181.26 on Tuesday. Insulet Co. has a fifty-two week low of $125.82 and a fifty-two week high of $335.91. The stock’s 50-day moving average is $154.02 and its two-hundred day moving average is $225.54. The company has a debt-to-equity ratio of 2.26, a current ratio of 3.26 and a quick ratio of 2.35. The firm has a market cap of $12.66 billion, a P/E ratio of 106.00, a price-to-earnings-growth ratio of 2.34 and a beta of 0.83.

Analysts Set New Price Targets

Several analysts have recently commented on the company. Citigroup raised Insulet from a “neutral” rating to a “buy” rating and decreased their target price for the stock from $273.00 to $265.00 in a research report on Monday, August 21st. SVB Leerink assumed coverage on Insulet in a research report on Monday, October 16th. They set an “outperform” rating and a $184.00 price objective for the company. Morgan Stanley reduced their price objective on Insulet from $208.00 to $185.00 and set an “equal weight” rating for the company in a research report on Friday, September 29th. Robert W. Baird cut Insulet from an “outperform” rating to a “neutral” rating and reduced their price objective for the company from $320.00 to $219.00 in a research report on Monday, August 21st. Finally, Piper Sandler reduced their price objective on Insulet from $325.00 to $250.00 and set an “overweight” rating for the company in a research report on Friday, November 3rd. Seven investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $254.80.

Insider Transactions at Insulet

In other news, Director Shacey Petrovic sold 20,000 shares of Insulet stock in a transaction dated Monday, November 13th. The stock was sold at an average price of $164.33, for a total value of $3,286,600.00. Following the transaction, the director now directly owns 2,567 shares in the company, valued at $421,835.11. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, Director Shacey Petrovic sold 20,000 shares of Insulet stock in a transaction dated Monday, November 13th. The stock was sold at an average price of $164.33, for a total value of $3,286,600.00. Following the transaction, the director now directly owns 2,567 shares in the company, valued at $421,835.11. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO James Hollingshead acquired 5,550 shares of the company’s stock in a transaction dated Monday, August 28th. The stock was acquired at an average price of $181.41 per share, for a total transaction of $1,006,825.50. Following the completion of the purchase, the chief executive officer now directly owns 34,177 shares of the company’s stock, valued at approximately $6,200,049.57. The disclosure for this purchase can be found here. 0.90% of the stock is currently owned by corporate insiders.

Insulet Company Profile

Insulet Corporation develops, manufactures, and sells insulin delivery systems for people with insulin-dependent diabetes. It offers Omnipod System, a self-adhesive disposable tubeless Omnipod device that is worn on the body for up to three days at a time, as well as its wireless companion, the handheld personal diabetes manager.