Comerica Bank Sells 12,498 Shares of Insulet Co. (NASDAQ:PODD)

Comerica Bank lowered its position in Insulet Co. (NASDAQ:PODD - Free Report) by 9.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 122,334 shares of the medical instruments supplier's stock after selling 12,498 shares during the quarter. Comerica Bank owned approximately 0.17% of Insulet worth $31,938,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also bought and sold shares of PODD. SBI Securities Co. Ltd. bought a new position in Insulet during the 4th quarter worth approximately $36,000. Sumitomo Mitsui DS Asset Management Company Ltd grew its holdings in shares of Insulet by 30.1% in the fourth 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 during the last quarter. Ayrshire Capital Management LLC grew its holdings in shares of Insulet by 34.6% in the fourth quarter. Ayrshire Capital Management LLC now owns 22,988 shares of the medical instruments supplier's stock worth $6,001,000 after purchasing an additional 5,911 shares during the last quarter. Jennison Associates LLC raised its holdings in Insulet by 21.8% during the 4th quarter. Jennison Associates LLC now owns 158,342 shares of the medical instruments supplier's stock valued at $41,338,000 after buying an additional 28,375 shares during the last quarter. Finally, USA Financial Formulas bought a new stake in Insulet in the 4th quarter worth $1,234,000.

Insulet Stock Up 2.7 %

Shares of NASDAQ PODD traded up $6.76 during midday trading on Friday, hitting $257.01. The stock had a trading volume of 838,676 shares, compared to its average volume of 717,346. The company has a market cap of $18.05 billion, a P/E ratio of 44.39, a PEG ratio of 3.62 and a beta of 1.30. The company has a quick ratio of 2.80, a current ratio of 3.68 and a debt-to-equity ratio of 1.21. The business's 50 day moving average is $257.51 and its 200-day moving average is $262.48. Insulet Co. has a 52 week low of $160.19 and a 52 week high of $289.46.

Insulet (NASDAQ:PODD - Get Free Report) last issued its earnings results on Thursday, February 20th. The medical instruments supplier reported $1.15 EPS for the quarter, beating 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 business had revenue of $597.50 million for the quarter, compared to the consensus estimate of $582.02 million. As a group, analysts predict that Insulet Co. will post 3.92 EPS for the current year.

Insider Buying and Selling

In other Insulet news, Director Wayne A.I. Frederick sold 1,825 shares of Insulet stock in a transaction that occurred on Tuesday, March 25th. The shares were sold at an average price of $275.00, for a total value of $501,875.00. Following the completion of the sale, the director now owns 3,231 shares of the company's stock, valued at approximately $888,525. The trade was a 36.10 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.47% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on PODD shares. Canaccord Genuity Group boosted their price target on Insulet from $304.00 to $324.00 and gave the company a "buy" rating in a report on Friday, February 21st. Barclays raised their price target on Insulet from $234.00 to $266.00 and gave the stock an "equal weight" rating in a research note on Wednesday. StockNews.com cut shares of Insulet from a "buy" rating to a "hold" rating in a report on Tuesday, March 4th. Wells Fargo & Company set a $322.00 target price on shares of Insulet in a research report on Monday, April 28th. Finally, Raymond James reissued an "outperform" rating and issued a $328.00 price target (up from $294.00) on shares of Insulet in a research note on Friday, February 21st. Five equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $293.94.

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.