Bank of New York Mellon Corp Trims Position in Insulet Corporation (NASDAQ:PODD)

Bank of New York Mellon Corp lowered its stake in Insulet Corporation (NASDAQ:PODD - Free Report) by 1.7% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 441,723 shares of the medical instruments supplier's stock after selling 7,648 shares during the quarter. Bank of New York Mellon Corp owned 0.63% of Insulet worth $116,001,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the stock. SBI Securities Co. Ltd. bought a new stake in Insulet during the 4th quarter valued at $36,000. Itau Unibanco Holding S.A. bought a new position in shares of Insulet during the fourth quarter valued at about $42,000. Golden State Wealth Management LLC raised its stake in shares of Insulet by 553.1% during the first quarter. Golden State Wealth Management LLC now owns 209 shares of the medical instruments supplier's stock valued at $55,000 after acquiring an additional 177 shares during the last quarter. Assetmark Inc. boosted its holdings in shares of Insulet by 1,447.1% during the fourth quarter. Assetmark Inc. now owns 263 shares of the medical instruments supplier's stock worth $69,000 after purchasing an additional 246 shares during the period. Finally, Coppell Advisory Solutions LLC grew its stake in shares of Insulet by 135.0% in the fourth quarter. Coppell Advisory Solutions LLC now owns 282 shares of the medical instruments supplier's stock worth $74,000 after purchasing an additional 162 shares during the last quarter.

Insider Buying and Selling at Insulet

In other Insulet news, SVP John W. Kapples sold 5,278 shares of the company's stock in a transaction dated Wednesday, May 14th. The shares were sold at an average price of $318.47, for a total transaction of $1,680,884.66. Following the transaction, the senior vice president owned 23,180 shares in the company, valued at approximately $7,382,134.60. This represents a 18.55% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.39% of the stock is owned by corporate insiders.

Insulet Stock Down 0.0%

Shares of NASDAQ:PODD traded down $0.06 on Thursday, hitting $297.40. 475,982 shares of the company traded hands, compared to its average volume of 719,747. The stock has a 50 day simple moving average of $305.70 and a 200-day simple moving average of $279.61. The company has a quick ratio of 3.63, a current ratio of 4.47 and a debt-to-equity ratio of 1.21. The company has a market cap of $20.93 billion, a PE ratio of 53.49, a PEG ratio of 2.65 and a beta of 1.35. Insulet Corporation has a 52 week low of $173.00 and a 52 week high of $329.33.

Insulet (NASDAQ:PODD - Get Free Report) last issued its earnings results on Thursday, May 8th. The medical instruments supplier reported $1.02 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.81 by $0.21. The firm had revenue of $569.00 million for the quarter, compared to the consensus estimate of $543.20 million. Insulet had a net margin of 18.29% and a return on equity of 22.25%. The business's revenue was up 28.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.73 earnings per share. As a group, research analysts expect that Insulet Corporation will post 3.92 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on PODD shares. The Goldman Sachs Group started coverage on Insulet in a report on Friday, May 30th. They issued a "buy" rating and a $380.00 price objective for the company. Citigroup restated a "buy" rating on shares of Insulet in a report on Tuesday. Raymond James Financial reiterated an "outperform" rating and issued a $360.00 price target (up previously from $328.00) on shares of Insulet in a report on Tuesday, May 27th. Wall Street Zen cut shares of Insulet from a "buy" rating to a "hold" rating in a research report on Saturday, June 14th. Finally, Wells Fargo & Company set a $322.00 target price on shares of Insulet in a research note on Monday, April 28th. Four equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $321.00.

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.