Insulet Co. (NASDAQ:PODD) Shares Sold by M&T Bank Corp

M&T Bank Corp lowered its stake in shares of Insulet Co. (NASDAQ:PODD) by 2.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 8,829 shares of the medical instruments supplier’s stock after selling 232 shares during the period. M&T Bank Corp’s holdings in Insulet were worth $2,305,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in PODD. Janney Montgomery Scott LLC boosted its stake in Insulet by 7.5% in the 3rd quarter. Janney Montgomery Scott LLC now owns 5,661 shares of the medical instruments supplier’s stock worth $1,318,000 after buying an additional 394 shares during the last quarter. QRG Capital Management Inc. acquired a new stake in Insulet in the 3rd quarter worth about $297,000. Graypoint LLC acquired a new stake in Insulet in the 3rd quarter worth about $206,000. Principal Financial Group Inc. boosted its stake in Insulet by 4.0% in the 3rd quarter. Principal Financial Group Inc. now owns 86,210 shares of the medical instruments supplier’s stock worth $20,065,000 after buying an additional 3,355 shares during the last quarter. Finally, Portside Wealth Group LLC acquired a new stake in Insulet in the 3rd quarter worth about $205,000.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on PODD. Stifel Nicolaus raised their price target on Insulet from $245.00 to $293.00 and gave the stock a “hold” rating in a research note on Friday, February 21st. StockNews.com lowered Insulet from a “buy” rating to a “hold” rating in a research note on Tuesday, March 4th. Wells Fargo & Company raised their price target on Insulet from $305.00 to $322.00 and gave the stock an “overweight” rating in a research note on Friday, February 21st. TD Cowen raised their price objective on Insulet from $264.00 to $324.00 and gave the stock a “buy” rating in a report on Friday, January 3rd. Finally, JPMorgan Chase & Co. raised their price objective on Insulet from $280.00 to $330.00 and gave the stock an “overweight” rating in a report on Thursday, December 12th. Four analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $292.06.

Insulet Stock Performance

Shares of NASDAQ:PODD opened at $251.81 on Monday. The company has a market cap of $17.68 billion, a P/E ratio of 43.49, a PEG ratio of 3.62 and a beta of 1.29. The company has a debt-to-equity ratio of 1.21, a quick ratio of 2.80 and a current ratio of 3.68. Insulet Co. has a one year low of $160.19 and a one year high of $289.46. The business’s 50-day simple moving average is $274.09 and its 200 day simple moving average is $253.33.

Insulet (NASDAQ:PODD) last posted its quarterly earnings data on Thursday, February 20th. The medical instruments supplier reported $1.15 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.00 by $0.15. Insulet had a return on equity of 24.46% and a net margin of 20.19%. The company had revenue of $597.50 million for the quarter, compared to the consensus estimate of $582.02 million. On average, sell-side analysts forecast that Insulet Co. will post 3.92 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Insulet news, CAO Lauren Budden sold 915 shares of Insulet stock in a transaction that occurred on Tuesday, December 10th. The stock was 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 in the company, valued at $1,580,129.46. The trade was a 13.76 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Eric Benjamin sold 12,394 shares of Insulet stock in a transaction that occurred on 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 sale, the executive vice president now owns 11,383 shares in the company, valued at $3,187,240. This represents a 52.13 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.47% of the stock is owned by company 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.