Insulet Co. (NASDAQ:PODD) Holdings Lowered by Truist Financial Corp

Truist Financial Corp cut its stake in Insulet Co. (NASDAQ:PODD) by 5.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,244 shares of the medical instruments supplier’s stock after selling 75 shares during the period. Truist Financial Corp’s holdings in Insulet were worth $325,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in PODD. QRG Capital Management Inc. purchased a new position in shares of Insulet in the third quarter worth approximately $297,000. Sumitomo Mitsui DS Asset Management Company Ltd grew its position in Insulet by 30.1% during the 4th quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 8,395 shares of the medical instruments supplier’s stock worth $2,192,000 after purchasing an additional 1,942 shares in the last quarter. Fisher Asset Management LLC raised its stake in Insulet by 0.9% during the 3rd quarter. Fisher Asset Management LLC now owns 351,100 shares of the medical instruments supplier’s stock valued at $81,719,000 after purchasing an additional 3,113 shares during the period. Orion Portfolio Solutions LLC lifted its holdings in shares of Insulet by 86.2% in the third quarter. Orion Portfolio Solutions LLC now owns 7,826 shares of the medical instruments supplier’s stock valued at $1,822,000 after purchasing an additional 3,623 shares in the last quarter. Finally, Nomura Asset Management Co. Ltd. boosted its position in shares of Insulet by 5.7% in the third quarter. Nomura Asset Management Co. Ltd. now owns 153,416 shares of the medical instruments supplier’s stock worth $35,708,000 after buying an additional 8,301 shares during the period.

Insulet Trading Up 0.4 %

NASDAQ PODD opened at $270.81 on Thursday. The company has a market cap of $19.02 billion, a PE ratio of 46.77, a PEG ratio of 3.62 and a beta of 1.23. 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 of $274.48 and a 200-day moving average of $251.93. The company has a current ratio of 3.68, a quick ratio of 2.80 and a debt-to-equity ratio of 1.21.

Insulet (NASDAQ:PODD) last announced its quarterly earnings results on Thursday, February 20th. The medical instruments supplier reported $1.15 EPS for the quarter, beating analysts’ consensus estimates of $1.00 by $0.15. The firm had revenue of $597.50 million during the quarter, compared to analysts’ expectations of $582.02 million. Insulet had a net margin of 20.19% and a return on equity of 24.46%. On average, equities research analysts anticipate that Insulet Co. will post 3.92 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities analysts have weighed in on PODD shares. StockNews.com cut Insulet from a “buy” rating to a “hold” rating in a research note on Tuesday. Raymond James reaffirmed an “outperform” rating and set a $328.00 price objective (up from $294.00) on shares of Insulet in a research report on Friday, February 21st. JPMorgan Chase & Co. lifted their target price on shares of Insulet from $280.00 to $330.00 and gave the company an “overweight” rating in a research note on Thursday, December 12th. Stifel Nicolaus upped their price target on shares of Insulet from $245.00 to $293.00 and gave the stock a “hold” rating in a research note on Friday, February 21st. Finally, Citigroup lifted their price objective on Insulet from $310.00 to $355.00 and gave the company a “buy” rating in a research report on Friday, February 21st. Four analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $289.06.

Insider Buying and Selling

In other Insulet news, EVP Eric Benjamin sold 12,394 shares of the firm’s stock in a transaction on Tuesday, January 21st. The stock was sold at an average price of $280.00, for a total transaction 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 $3,187,240. This trade represents a 52.13 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CAO Lauren Budden sold 915 shares of the company’s stock in a transaction on Tuesday, December 10th. The shares were sold at an average price of $275.62, for a total transaction of $252,192.30. Following the completion of the transaction, the chief accounting officer now owns 5,733 shares in the company, valued at approximately $1,580,129.46. This represents a 13.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.47% of the stock is currently owned by corporate insiders.

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.