Fifth Third Bancorp Has $2.31 Million Stock Position in Insulet Co. (NASDAQ:PODD)

Fifth Third Bancorp boosted its holdings in shares of Insulet Co. (NASDAQ:PODD) by 2.8% during the first quarter, Holdings Channel reports. The institutional investor owned 8,798 shares of the medical instruments supplier’s stock after acquiring an additional 238 shares during the quarter. Fifth Third Bancorp’s holdings in Insulet were worth $2,310,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently bought and sold shares of the business. Baillie Gifford & Co. boosted its stake in Insulet by 3.5% during the fourth quarter. Baillie Gifford & Co. now owns 2,355,683 shares of the medical instruments supplier’s stock worth $614,998,000 after buying an additional 79,982 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of Insulet by 2.3% in the 4th quarter. Geode Capital Management LLC now owns 1,779,167 shares of the medical instruments supplier’s stock valued at $463,347,000 after purchasing an additional 40,566 shares in the last quarter. Norges Bank acquired a new stake in shares of Insulet in the 4th quarter valued at $248,806,000. Artisan Partners Limited Partnership boosted its stake in shares of Insulet by 24.1% in the 4th quarter. Artisan Partners Limited Partnership now owns 770,188 shares of the medical instruments supplier’s stock valued at $201,073,000 after purchasing an additional 149,524 shares in the last quarter. Finally, Northern Trust Corp boosted its stake in shares of Insulet by 20.5% in the 4th quarter. Northern Trust Corp now owns 738,811 shares of the medical instruments supplier’s stock valued at $192,881,000 after purchasing an additional 125,710 shares in the last quarter.

Insulet Stock Performance

Shares of NASDAQ:PODD opened at $304.63 on Friday. The stock has a market capitalization of $21.44 billion, a P/E ratio of 52.61, a P/E/G ratio of 3.62 and a beta of 1.37. Insulet Co. has a 1-year low of $173.00 and a 1-year high of $329.33. 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 business has a 50-day moving average price of $287.15 and a two-hundred day moving average price of $275.01.

Insulet (NASDAQ:PODD) last announced its quarterly earnings results on Thursday, May 8th. The medical instruments supplier reported $1.02 EPS for the quarter, beating analysts’ consensus estimates of $0.81 by $0.21. The company had revenue of $569.00 million during the quarter, compared to analysts’ expectations of $543.20 million. Insulet had a return on equity of 24.46% and a net margin of 20.19%. Insulet’s revenue was up 28.8% on a year-over-year basis. During the same period in the prior year, the business posted $0.73 EPS. Equities analysts predict that Insulet Co. will post 3.92 earnings per share for the current year.

Insider Activity

In related news, SVP John W. Kapples sold 5,278 shares of the business’s stock in a transaction that occurred on Wednesday, May 14th. The stock was sold at an average price of $318.47, for a total value of $1,680,884.66. Following the completion of the transaction, the senior vice president now directly owns 23,180 shares in the company, valued at approximately $7,382,134.60. The trade was a 18.55% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Wayne A.I. Frederick sold 1,825 shares of the business’s stock in a transaction that occurred on Tuesday, March 25th. The shares were sold at an average price of $275.00, for a total value of $501,875.00. Following the completion of the transaction, the director now owns 3,231 shares of the company’s stock, valued at $888,525. This represents a 36.10% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.39% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on PODD. Raymond James reaffirmed an “outperform” rating and issued a $360.00 price target (up from $328.00) on shares of Insulet in a report on Tuesday, May 27th. Oppenheimer lifted their price target on Insulet from $312.00 to $324.00 and gave the company an “outperform” rating in a report on Friday, May 9th. The Goldman Sachs Group began coverage on Insulet in a report on Friday, May 30th. They issued a “buy” rating and a $380.00 price target for the company. Citigroup reaffirmed a “buy” rating and issued a $380.00 price target (up from $320.00) on shares of Insulet in a report on Thursday, May 22nd. Finally, Royal Bank of Canada began coverage on Insulet in a report on Thursday, March 6th. They issued an “outperform” rating and a $340.00 price target for the company. Four analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $318.41.

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.