Bank of New York Mellon Corp Has $117.32 Million Stock Holdings in Insulet Co. (NASDAQ:PODD)

Bank of New York Mellon Corp cut its stake in Insulet Co. (NASDAQ:PODD) by 1.7% in the 4th quarter, Holdings Channel.com reports. The fund owned 449,371 shares of the medical instruments supplier’s stock after selling 7,899 shares during the quarter. Bank of New York Mellon Corp’s holdings in Insulet were worth $117,317,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Blue Trust Inc. raised its holdings in shares of Insulet by 84.1% during the 3rd quarter. Blue Trust Inc. now owns 127 shares of the medical instruments supplier’s stock worth $30,000 after buying an additional 58 shares in the last quarter. Venturi Wealth Management LLC raised its holdings in shares of Insulet by 633.3% during the 3rd quarter. Venturi Wealth Management LLC now owns 154 shares of the medical instruments supplier’s stock worth $36,000 after buying an additional 133 shares in the last quarter. TD Private Client Wealth LLC raised its holdings in shares of Insulet by 32.6% during the 3rd quarter. TD Private Client Wealth LLC now owns 228 shares of the medical instruments supplier’s stock worth $53,000 after buying an additional 56 shares in the last quarter. Friedenthal Financial acquired a new position in shares of Insulet during the 4th quarter worth $57,000. Finally, Versant Capital Management Inc raised its holdings in shares of Insulet by 106.1% during the 4th quarter. Versant Capital Management Inc now owns 305 shares of the medical instruments supplier’s stock worth $80,000 after buying an additional 157 shares in the last quarter.

Analyst Ratings Changes

PODD has been the topic of a number of research reports. Stifel Nicolaus boosted their price objective on Insulet from $245.00 to $293.00 and gave the stock a “hold” rating in a research report on Friday, February 21st. StockNews.com upgraded Insulet from a “hold” rating to a “buy” rating in a research report on Monday, February 24th. Raymond James restated an “outperform” rating and set a $328.00 price objective (up previously from $294.00) on shares of Insulet in a research report on Friday, February 21st. Piper Sandler boosted their price objective on Insulet from $285.00 to $310.00 and gave the stock an “overweight” rating in a research report on Friday, February 21st. Finally, Sanford C. Bernstein began coverage on Insulet in a research report on Wednesday, November 6th. They issued an “outperform” rating and a $300.00 price target on the stock. Three analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $289.06.

Insiders Place Their Bets

In other Insulet news, EVP Eric Benjamin sold 12,394 shares of the company’s stock in a transaction that occurred on Tuesday, January 21st. The stock was sold at an average price of $280.00, for a total transaction of $3,470,320.00. Following the transaction, the executive vice president now owns 11,383 shares in the company, valued at approximately $3,187,240. This represents a 52.13 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Lauren Budden sold 915 shares of the company’s stock in a transaction that occurred on Tuesday, December 10th. The stock was sold at an average price of $275.62, for a total value of $252,192.30. Following the completion of the sale, the chief accounting officer now owns 5,733 shares in the company, valued at $1,580,129.46. The trade was a 13.76 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.47% of the company’s stock.

Insulet Trading Up 1.9 %

NASDAQ PODD opened at $272.27 on Friday. Insulet Co. has a 1-year low of $160.19 and a 1-year high of $289.46. The company has a current ratio of 3.68, a quick ratio of 2.80 and a debt-to-equity ratio of 1.21. The stock has a 50-day moving average of $274.01 and a 200-day moving average of $250.30. The firm has a market cap of $19.12 billion, a PE ratio of 47.02, a price-to-earnings-growth ratio of 3.62 and a beta of 1.23.

Insulet (NASDAQ:PODD) last released its quarterly earnings results on Thursday, February 20th. The medical instruments supplier reported $1.15 EPS for the quarter, beating analysts’ consensus estimates of $1.00 by $0.15. The business had revenue of $597.50 million during the quarter, compared to analyst estimates of $582.02 million. Insulet had a return on equity of 24.46% and a net margin of 20.19%. As a group, sell-side analysts forecast that Insulet Co. will post 3.92 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.