Comerica Bank Sells 17,712 Shares of Insulet Corporation $PODD

Key Points

• Comerica Bank sold 17,712 shares of Insulet in Q4, trimming its position by 57% to 13,353 shares worth $3.795 million.
• Insider buying: Director Michael R. Minogue purchased 2,030 shares at $246.23 on Feb. 25, raising his stake to 17,483 shares (a 13.14% increase); insiders own 0.36% of the stock.
• Analyst outlook vs. price: Insulet beat Q1 estimates (EPS $1.55; revenue $783.8M, +31.2%), yet several analysts have cut targets; consensus remains a "Moderate Buy" with an average target of $327.24 while shares trade near $175.

Comerica Bank decreased its position in shares of Insulet Corporation (NASDAQ:PODD - Free Report) by 57.0% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 13,353 shares of the medical instruments supplier's stock after selling 17,712 shares during the quarter. Comerica Bank's holdings in Insulet were worth $3,795,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Sage Mountain Advisors LLC grew its stake in shares of Insulet by 4.6% during the 3rd quarter. Sage Mountain Advisors LLC now owns 743 shares of the medical instruments supplier's stock worth $229,000 after acquiring an additional 33 shares during the period. Glenmede Investment Management LP grew its stake in shares of Insulet by 1.6% during the 3rd quarter. Glenmede Investment Management LP now owns 2,292 shares of the medical instruments supplier's stock worth $708,000 after acquiring an additional 35 shares during the period. Curi Capital LLC grew its stake in shares of Insulet by 0.8% during the 2nd quarter. Curi Capital LLC now owns 4,346 shares of the medical instruments supplier's stock worth $1,365,000 after acquiring an additional 36 shares during the period. WINTON GROUP Ltd grew its stake in shares of Insulet by 0.9% during the 3rd quarter. WINTON GROUP Ltd now owns 4,086 shares of the medical instruments supplier's stock worth $1,261,000 after acquiring an additional 37 shares during the period. Finally, PDS Planning Inc grew its stake in shares of Insulet by 5.1% during the 3rd quarter. PDS Planning Inc now owns 821 shares of the medical instruments supplier's stock worth $253,000 after acquiring an additional 40 shares during the period.

Insider Buying and Selling at Insulet

In other Insulet news, Director Michael R. Minogue purchased 2,030 shares of the stock in a transaction on Wednesday, February 25th. The shares were purchased at an average price of $246.23 per share, with a total value of $499,846.90. Following the acquisition, the director directly owned 17,483 shares in the company, valued at approximately $4,304,839.09. The trade was a 13.14% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.36% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the company. JPMorgan Chase & Co. cut their target price on Insulet from $415.00 to $340.00 and set an "overweight" rating for the company in a research note on Thursday, February 19th. BTIG Research cut their target price on Insulet from $380.00 to $320.00 and set a "buy" rating for the company in a research note on Monday, April 13th. Leerink Partners cut their target price on Insulet from $386.00 to $360.00 and set an "outperform" rating for the company in a research note on Thursday, February 19th. Weiss Ratings upgraded Insulet from a "hold (c-)" rating to a "hold (c)" rating in a research note on Friday. Finally, Evercore cut their target price on Insulet from $340.00 to $240.00 and set an "outperform" rating for the company in a research note on Monday, April 6th. Eighteen research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Insulet presently has an average rating of "Moderate Buy" and a consensus target price of $327.24.

Insulet Stock Up 1.7%

Shares of NASDAQ PODD opened at $175.04 on Friday. Insulet Corporation has a 52 week low of $158.35 and a 52 week high of $354.88. The business has a 50-day simple moving average of $216.37 and a two-hundred day simple moving average of $267.50. The company has a quick ratio of 2.15, a current ratio of 2.81 and a debt-to-equity ratio of 0.61. The company has a market cap of $12.12 billion, a P/E ratio of 50.01, a P/E/G ratio of 1.05 and a beta of 1.20.

Insulet (NASDAQ:PODD - Get Free Report) last issued its earnings results on Wednesday, February 18th. The medical instruments supplier reported $1.55 EPS for the quarter, topping the consensus estimate of $1.48 by $0.07. Insulet had a return on equity of 24.90% and a net margin of 9.12%.The business had revenue of $783.80 million during the quarter, compared to the consensus estimate of $768.31 million. During the same quarter last year, the company earned $1.15 EPS. The firm's revenue was up 31.2% compared to the same quarter last year. Research analysts anticipate that Insulet Corporation will post 6.27 earnings per share for the current fiscal year.

Insulet Company Profile

Insulet Corporation is a medical device company headquartered in Acton, Massachusetts, that develops, manufactures and sells insulin-delivery systems for people with diabetes. The company's core business is the design and commercialization of its Omnipod family of tubeless, wearable insulin pumps and the consumable Pods that deliver insulin. Insulet's products aim to simplify insulin delivery for people with type 1 diabetes and insulin-requiring type 2 diabetes by offering an alternative to traditional insulin pens and tethered pump systems.

The company's product portfolio includes the Omnipod System line—disposable, waterproof Pods that adhere to the skin and deliver insulin—and the associated controllers and mobile applications used to program and monitor insulin delivery.

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