Sumitomo Mitsui Trust Holdings Inc. Lowers Position in Insulet Co. (NASDAQ:PODD)

Sumitomo Mitsui Trust Holdings Inc. cut its stake in Insulet Co. (NASDAQ:PODD) by 7.9% in the 4th quarter, HoldingsChannel.com reports. The firm owned 166,311 shares of the medical instruments supplier’s stock after selling 14,284 shares during the quarter. Sumitomo Mitsui Trust Holdings Inc.’s holdings in Insulet were worth $36,086,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. First Manhattan Co. purchased a new stake in shares of Insulet in the fourth quarter worth approximately $35,000. Wolff Wiese Magana LLC raised its stake in shares of Insulet by 2,680.0% in the fourth quarter. Wolff Wiese Magana LLC now owns 139 shares of the medical instruments supplier’s stock worth $30,000 after purchasing an additional 134 shares during the last quarter. Parkside Financial Bank & Trust raised its stake in shares of Insulet by 251.0% in the third quarter. Parkside Financial Bank & Trust now owns 172 shares of the medical instruments supplier’s stock worth $27,000 after purchasing an additional 123 shares during the last quarter. Allworth Financial LP grew its holdings in shares of Insulet by 104.5% in the third quarter. Allworth Financial LP now owns 180 shares of the medical instruments supplier’s stock valued at $29,000 after acquiring an additional 92 shares in the last quarter. Finally, BluePath Capital Management LLC bought a new position in shares of Insulet in the third quarter valued at approximately $31,000.

Analyst Ratings Changes

PODD has been the subject of several recent analyst reports. JPMorgan Chase & Co. upped their target price on Insulet from $190.00 to $225.00 and gave the company an “overweight” rating in a report on Friday, February 23rd. Piper Sandler reduced their target price on Insulet from $250.00 to $230.00 and set an “overweight” rating for the company in a report on Friday, February 23rd. Stifel Nicolaus upped their target price on Insulet from $163.00 to $208.00 and gave the company a “hold” rating in a report on Monday, February 5th. Finally, Barclays reduced their target price on Insulet from $214.00 to $213.00 and set an “equal weight” rating for the company in a report on Monday, February 26th. Four research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat, Insulet presently has an average rating of “Moderate Buy” and a consensus price target of $243.21.

Insiders Place Their Bets

In other Insulet news, Director Shacey Petrovic sold 11,609 shares of the stock in a transaction on Wednesday, February 28th. The stock was sold at an average price of $162.92, for a total transaction of $1,891,338.28. Following the sale, the director now owns 2,567 shares in the company, valued at $418,215.64. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 0.90% of the company’s stock.

Insulet Trading Up 0.9 %

NASDAQ:PODD opened at $166.25 on Friday. The company has a market cap of $11.64 billion, a P/E ratio of 57.13, a P/E/G ratio of 2.99 and a beta of 0.98. The stock’s fifty day moving average price is $173.97 and its two-hundred day moving average price is $178.96. 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 1.86, a current ratio of 3.51 and a quick ratio of 2.62.

Insulet (NASDAQ:PODD) last posted its earnings results on Thursday, February 22nd. The medical instruments supplier reported $1.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.67 by $0.73. The firm had revenue of $509.80 million for the quarter, compared to the consensus estimate of $461.26 million. Insulet had a return on equity of 32.19% and a net margin of 12.16%. The business’s quarterly revenue was up 37.9% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.55 earnings per share. As a group, analysts expect that Insulet Co. will post 3.08 EPS for the current year.

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.