Truist Financial Corp Sells 561 Shares of Insulet Co. (NASDAQ:PODD)

Truist Financial Corp lessened its stake in shares of Insulet Co. (NASDAQ:PODD) by 23.3% in the 2nd quarter, according to its most recent disclosure with the SEC. The firm owned 1,845 shares of the medical instruments supplier’s stock after selling 561 shares during the period. Truist Financial Corp’s holdings in Insulet were worth $532,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Keybank National Association OH increased its holdings in Insulet by 39.9% in the 2nd quarter. Keybank National Association OH now owns 2,667 shares of the medical instruments supplier’s stock worth $769,000 after acquiring an additional 760 shares in the last quarter. Cookson Peirce & Co. Inc. bought a new stake in shares of Insulet during the 2nd quarter valued at $10,250,000. M&G Investment Management Ltd. lifted its stake in shares of Insulet by 3.2% during the 2nd quarter. M&G Investment Management Ltd. now owns 21,049 shares of the medical instruments supplier’s stock valued at $6,062,000 after buying an additional 658 shares in the last quarter. LPL Financial LLC boosted its holdings in Insulet by 1.1% in the 2nd quarter. LPL Financial LLC now owns 21,644 shares of the medical instruments supplier’s stock worth $6,241,000 after buying an additional 246 shares during the period. Finally, Crossmark Global Holdings Inc. increased its stake in Insulet by 10.1% in the 2nd quarter. Crossmark Global Holdings Inc. now owns 4,044 shares of the medical instruments supplier’s stock worth $1,135,000 after buying an additional 370 shares in the last quarter.

Insider Buying and Selling at Insulet

In related news, CEO James Hollingshead purchased 5,550 shares of Insulet stock in a transaction dated Monday, August 28th. The stock was purchased at an average cost of $181.41 per share, with a total value of $1,006,825.50. Following the transaction, the chief executive officer now owns 34,177 shares in the company, valued at approximately $6,200,049.57. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 0.90% of the company’s stock.

Insulet Stock Down 1.3 %

Shares of Insulet stock opened at $152.88 on Friday. Insulet Co. has a 1 year low of $125.82 and a 1 year high of $335.91. The company has a debt-to-equity ratio of 2.26, a current ratio of 3.26 and a quick ratio of 2.35. The stock has a market cap of $10.68 billion, a price-to-earnings ratio of 171.78, a PEG ratio of 2.17 and a beta of 0.83. The firm’s 50-day moving average is $155.92 and its two-hundred day moving average is $234.03.

Insulet (NASDAQ:PODD) last released its quarterly earnings data on Tuesday, August 8th. The medical instruments supplier reported $0.38 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.24 by $0.14. The firm had revenue of $396.50 million for the quarter, compared to the consensus estimate of $383.97 million. Insulet had a net margin of 7.71% and a return on equity of 23.98%. As a group, research analysts expect that Insulet Co. will post 1.9 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on PODD. JPMorgan Chase & Co. dropped their price objective on Insulet from $325.00 to $162.00 and set an “overweight” rating for the company in a research note on Tuesday, October 17th. Piper Sandler cut their price target on Insulet from $325.00 to $250.00 and set an “overweight” rating for the company in a report on Friday, November 3rd. Barclays decreased their price objective on Insulet from $329.00 to $257.00 and set an “equal weight” rating on the stock in a report on Thursday, August 10th. Wells Fargo & Company reduced their price target on shares of Insulet from $375.00 to $330.00 and set an “overweight” rating on the stock in a research report on Wednesday, August 9th. Finally, SVB Leerink initiated coverage on shares of Insulet in a research report on Monday, October 16th. They set an “outperform” rating and a $184.00 target price on the stock. Seven research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $254.80.

Insulet Company Profile

Insulet Corporation develops, manufactures, and sells insulin delivery systems for people with insulin-dependent diabetes. It offers Omnipod System, a self-adhesive disposable tubeless Omnipod device that is worn on the body for up to three days at a time, as well as its wireless companion, the handheld personal diabetes manager.