M&T Bank Corp Cuts Stock Position in Insulet Co. (NASDAQ:PODD)

M&T Bank Corp cut its holdings in shares of Insulet Co. (NASDAQ:PODD) by 2.6% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 8,829 shares of the medical instruments supplier’s stock after selling 232 shares during the period. M&T Bank Corp’s holdings in Insulet were worth $2,305,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Integrated Wealth Concepts LLC grew its position in shares of Insulet by 1.7% during the third quarter. Integrated Wealth Concepts LLC now owns 2,561 shares of the medical instruments supplier’s stock worth $596,000 after buying an additional 42 shares in the last quarter. Nisa Investment Advisors LLC grew its position in shares of Insulet by 1.0% during the fourth quarter. Nisa Investment Advisors LLC now owns 4,388 shares of the medical instruments supplier’s stock worth $1,146,000 after buying an additional 43 shares in the last quarter. Glenmede Trust Co. NA grew its position in shares of Insulet by 2.3% during the third quarter. Glenmede Trust Co. NA now owns 2,080 shares of the medical instruments supplier’s stock worth $484,000 after buying an additional 47 shares in the last quarter. Graypoint LLC grew its position in shares of Insulet by 5.3% during the fourth quarter. Graypoint LLC now owns 930 shares of the medical instruments supplier’s stock worth $243,000 after buying an additional 47 shares in the last quarter. Finally, Wilmington Savings Fund Society FSB grew its position in shares of Insulet by 9.6% during the fourth quarter. Wilmington Savings Fund Society FSB now owns 538 shares of the medical instruments supplier’s stock worth $140,000 after buying an additional 47 shares in the last quarter.

Insulet Trading Down 3.0 %

NASDAQ:PODD opened at $251.81 on Monday. The stock has a fifty day moving average price of $274.09 and a two-hundred day moving average price of $253.33. The stock has a market capitalization of $17.68 billion, a price-to-earnings ratio of 43.49, a PEG ratio of 3.62 and a beta of 1.29. The company has a debt-to-equity ratio of 1.21, a quick ratio of 2.80 and a current ratio of 3.68. Insulet Co. has a 1 year low of $160.19 and a 1 year high of $289.46.

Insulet (NASDAQ:PODD) last released its quarterly earnings data on Thursday, February 20th. The medical instruments supplier reported $1.15 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.00 by $0.15. The firm had revenue of $597.50 million during the quarter, compared to analysts’ expectations 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 anticipate that Insulet Co. will post 3.92 earnings per share for the current fiscal year.

Analyst Ratings Changes

PODD has been the subject of a number of analyst reports. 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. Barclays boosted their price objective on Insulet from $220.00 to $234.00 and gave the stock an “equal weight” rating in a research report on Monday, November 11th. Citigroup upped their price target on Insulet from $310.00 to $355.00 and gave the company a “buy” rating in a report on Friday, February 21st. Wells Fargo & Company upped their price target on Insulet from $305.00 to $322.00 and gave the company an “overweight” rating in a report on Friday, February 21st. Finally, JPMorgan Chase & Co. upped their price target on Insulet from $280.00 to $330.00 and gave the company an “overweight” rating in a report on Thursday, December 12th. Four analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $292.06.

Insider Buying and Selling at Insulet

In other Insulet news, EVP Eric Benjamin sold 12,394 shares of the company’s stock in a transaction on Tuesday, January 21st. The stock was sold at an average price of $280.00, for a total value of $3,470,320.00. Following the sale, the executive vice president now owns 11,383 shares of the company’s stock, valued at approximately $3,187,240. This represents a 52.13 % decrease in their ownership of the stock. The transaction was disclosed in a document filed 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 on Tuesday, December 10th. The shares were 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 directly owns 5,733 shares in the company, valued at $1,580,129.46. This trade represents a 13.76 % decrease in their position. The disclosure for this sale can be found here. 0.47% of the stock is owned by corporate insiders.

About Insulet

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.