Hsbc Holdings PLC Lowers Stock Position in Insulet Co. (NASDAQ:PODD)

Hsbc Holdings PLC trimmed its stake in Insulet Co. (NASDAQ:PODD) by 37.4% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 124,651 shares of the medical instruments supplier’s stock after selling 74,621 shares during the period. Hsbc Holdings PLC owned about 0.18% of Insulet worth $25,251,000 as of its most recent filing with the SEC.

Several other large investors have also recently made changes to their positions in the stock. Sumitomo Mitsui DS Asset Management Company Ltd raised its position in Insulet by 1.1% in the second quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 6,265 shares of the medical instruments supplier’s stock valued at $1,264,000 after purchasing an additional 66 shares during the period. UMB Bank n.a. lifted its stake in Insulet by 81.0% during the 2nd quarter. UMB Bank n.a. now owns 181 shares of the medical instruments supplier’s stock worth $37,000 after acquiring an additional 81 shares in the last quarter. Moody National Bank Trust Division boosted its holdings in Insulet by 2.6% during the 1st quarter. Moody National Bank Trust Division now owns 3,439 shares of the medical instruments supplier’s stock valued at $589,000 after acquiring an additional 87 shares during the period. Motley Fool Asset Management LLC grew its position in Insulet by 7.1% in the 1st quarter. Motley Fool Asset Management LLC now owns 1,397 shares of the medical instruments supplier’s stock valued at $239,000 after acquiring an additional 93 shares in the last quarter. Finally, State of Michigan Retirement System grew its position in Insulet by 0.5% in the 2nd quarter. State of Michigan Retirement System now owns 19,200 shares of the medical instruments supplier’s stock valued at $3,875,000 after acquiring an additional 100 shares in the last quarter.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on PODD shares. BTIG Research dropped their price objective on shares of Insulet from $270.00 to $250.00 and set a “buy” rating for the company in a report on Friday, August 9th. Canaccord Genuity Group restated a “buy” rating and issued a $234.00 price target on shares of Insulet in a research note on Tuesday, July 23rd. Piper Sandler upped their price objective on Insulet from $230.00 to $285.00 and gave the stock an “overweight” rating in a research report on Tuesday, September 17th. Barclays lifted their target price on Insulet from $200.00 to $220.00 and gave the company an “equal weight” rating in a report on Monday, August 12th. Finally, OTR Global restated a “mixed” rating on shares of Insulet in a report on Monday, June 10th. Four investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat.com, Insulet presently has an average rating of “Moderate Buy” and a consensus target price of $229.21.

Insulet Stock Down 0.5 %

PODD stock opened at $236.58 on Friday. The stock has a market cap of $16.59 billion, a P/E ratio of 71.69, a PEG ratio of 4.38 and a beta of 1.21. The company has a current ratio of 3.60, a quick ratio of 2.71 and a debt-to-equity ratio of 1.36. Insulet Co. has a twelve month low of $125.82 and a twelve month high of $243.98. The company’s 50 day moving average is $202.88 and its two-hundred day moving average is $188.32.

Insulet (NASDAQ:PODD) last announced its quarterly earnings results on Thursday, August 8th. The medical instruments supplier reported $0.55 earnings per share for the quarter, missing analysts’ consensus estimates of $0.56 by ($0.01). The company had revenue of $488.50 million during the quarter, compared to analysts’ expectations of $488.00 million. Insulet had a net margin of 21.11% and a return on equity of 30.73%. Insulet’s revenue was up 23.2% on a year-over-year basis. During the same period last year, the firm earned $0.38 earnings per share. Research analysts expect that Insulet Co. will post 3.04 earnings per share for the current fiscal year.

About Insulet

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.