ING Groep NV Acquires 33,298 Shares of Insulet Corporation (NASDAQ:PODD)

Key Points

• ING Groep NV dramatically increased its stake in Insulet Corporation by 1,563.3% in Q1, now owning 35,428 shares valued at approximately $9.3 million.
• Insulet has received a mix of ratings from analysts, with four giving a hold rating and fifteen a buy rating, leading to an average price target of $321.00.
• Insulet's stock showed a strong performance, with a 1.0% increase following an earnings report that revealed an EPS of $1.02, surpassing analyst expectations.

ING Groep NV raised its holdings in shares of Insulet Corporation (NASDAQ:PODD - Free Report) by 1,563.3% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 35,428 shares of the medical instruments supplier's stock after acquiring an additional 33,298 shares during the quarter. ING Groep NV owned approximately 0.05% of Insulet worth $9,304,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors also recently modified their holdings of PODD. Larson Financial Group LLC grew its stake in Insulet by 426.3% in the first quarter. Larson Financial Group LLC now owns 100 shares of the medical instruments supplier's stock worth $26,000 after purchasing an additional 81 shares in the last quarter. Itau Unibanco Holding S.A. purchased a new position in shares of Insulet in the fourth quarter valued at approximately $42,000. Ramirez Asset Management Inc. acquired a new stake in Insulet during the first quarter worth about $53,000. Golden State Wealth Management LLC increased its position in shares of Insulet by 553.1% during the 1st quarter. Golden State Wealth Management LLC now owns 209 shares of the medical instruments supplier's stock worth $55,000 after purchasing an additional 177 shares during the last quarter. Finally, GW&K Investment Management LLC grew its stake in shares of Insulet by 114.7% in the first quarter. GW&K Investment Management LLC now owns 249 shares of the medical instruments supplier's stock valued at $65,000 after buying an additional 133 shares in the last quarter.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the stock. Citigroup reaffirmed a "buy" rating on shares of Insulet in a report on Tuesday, July 8th. Wolfe Research upgraded Insulet from a "peer perform" rating to an "outperform" rating and set a $350.00 target price on the stock in a research report on Tuesday, May 13th. Wells Fargo & Company set a $322.00 target price on shares of Insulet in a research note on Monday, April 28th. Oppenheimer increased their price objective on shares of Insulet from $312.00 to $324.00 and gave the stock an "outperform" rating in a report on Friday, May 9th. Finally, Morgan Stanley reaffirmed an "overweight" rating on shares of Insulet in a research report on Thursday. Four research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $321.00.

Insulet Price Performance

PODD stock traded up $26.25 during trading hours on Thursday, hitting $303.55. 1,787,811 shares of the stock traded hands, compared to its average volume of 553,722. Insulet Corporation has a one year low of $173.00 and a one year high of $329.33. The stock has a 50-day simple moving average of $299.47 and a 200 day simple moving average of $282.79. The company has a market cap of $21.36 billion, a P/E ratio of 54.60, a P/E/G ratio of 2.48 and a beta of 1.35. The company has a current ratio of 4.47, a quick ratio of 3.63 and a debt-to-equity ratio of 1.21.

Insulet (NASDAQ:PODD - Get Free Report) last posted its quarterly earnings results on Thursday, August 7th. The medical instruments supplier reported $1.17 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.93 by $0.24. Insulet had a net margin of 18.29% and a return on equity of 22.25%. The business had revenue of $649.10 million during the quarter, compared to analyst estimates of $612.31 million. During the same period in the prior year, the firm earned $0.55 earnings per share. The firm's revenue was up 32.9% compared to the same quarter last year. Equities analysts forecast that Insulet Corporation will post 3.92 earnings per share for the current year.

Insider Transactions at Insulet

In other news, SVP John W. Kapples sold 5,278 shares of the stock in a transaction dated Wednesday, May 14th. The stock was sold at an average price of $318.47, for a total transaction of $1,680,884.66. Following the transaction, the senior vice president owned 23,180 shares of the company's stock, valued at approximately $7,382,134.60. This represents a 18.55% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 0.39% of the company's stock.

Insulet 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.