Sumitomo Mitsui Trust Holdings Inc. Reduces Stock Position in Insulet Co. (NASDAQ:PODD)

Sumitomo Mitsui Trust Holdings Inc. cut its stake in Insulet Co. (NASDAQ:PODD) by 10.0% in the second quarter, HoldingsChannel.com reports. The fund owned 151,100 shares of the medical instruments supplier’s stock after selling 16,771 shares during the period. Sumitomo Mitsui Trust Holdings Inc.’s holdings in Insulet were worth $30,492,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. Benjamin F. Edwards & Company Inc. bought a new stake in Insulet in the 4th quarter worth approximately $34,000. Sunbelt Securities Inc. purchased a new position in shares of Insulet in the 1st quarter worth $29,000. Jones Financial Companies Lllp bought a new stake in shares of Insulet in the fourth quarter worth $40,000. Lindbrook Capital LLC increased its position in Insulet by 64.1% during the fourth quarter. Lindbrook Capital LLC now owns 192 shares of the medical instruments supplier’s stock valued at $42,000 after acquiring an additional 75 shares during the last quarter. Finally, CVA Family Office LLC boosted its position in Insulet by 138.1% in the second quarter. CVA Family Office LLC now owns 250 shares of the medical instruments supplier’s stock worth $50,000 after purchasing an additional 145 shares during the last quarter.

Insulet Stock Up 1.2 %

Shares of PODD opened at $195.92 on Tuesday. The company has a quick ratio of 2.71, a current ratio of 3.60 and a debt-to-equity ratio of 1.36. The business has a fifty day moving average of $196.90 and a 200 day moving average of $183.69. The company has a market cap of $13.74 billion, a PE ratio of 59.37, a P/E/G ratio of 3.58 and a beta of 1.16. Insulet Co. has a 52-week low of $125.82 and a 52-week high of $223.56.

Insulet (NASDAQ:PODD) last announced its earnings results on Thursday, August 8th. The medical instruments supplier reported $0.55 earnings per share for the quarter, missing the consensus estimate of $0.56 by ($0.01). Insulet had a net margin of 21.11% and a return on equity of 30.73%. The firm had revenue of $488.50 million during the quarter, compared to analysts’ expectations of $488.00 million. During the same period in the prior year, the company posted $0.38 EPS. The company’s revenue was up 23.2% compared to the same quarter last year. On average, sell-side analysts expect that Insulet Co. will post 3.04 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on PODD. OTR Global reissued a “mixed” rating on shares of Insulet in a report on Monday, June 10th. Redburn Atlantic began coverage on shares of Insulet in a research note on Thursday, May 30th. They set a “buy” rating and a $235.00 price target on the stock. Canaccord Genuity Group reiterated a “buy” rating and set a $234.00 target price on shares of Insulet in a research report on Tuesday, July 23rd. UBS Group raised their price objective on Insulet from $211.00 to $223.00 and gave the stock a “neutral” rating in a research note on Friday, August 9th. Finally, BTIG Research reduced their target price on shares of Insulet from $270.00 to $250.00 and set a “buy” rating for the company in a report on Friday, August 9th. Four investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, Insulet presently has a consensus rating of “Moderate Buy” and an average price target of $232.13.

Insiders Place Their Bets

In other Insulet news, SVP Mark N. Field sold 1,500 shares of the business’s stock in a transaction that occurred on Friday, June 14th. The stock was sold at an average price of $199.96, for a total transaction of $299,940.00. Following the completion of the transaction, the senior vice president now owns 12,875 shares in the company, valued at $2,574,485. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, Director Timothy J. Scannell sold 3,300 shares of the company’s stock in a transaction dated Tuesday, May 28th. The shares were sold at an average price of $180.90, for a total value of $596,970.00. Following the transaction, the director now directly owns 42,586 shares in the company, valued at $7,703,807.40. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP Mark N. Field sold 1,500 shares of Insulet stock in a transaction dated Friday, June 14th. The shares were sold at an average price of $199.96, for a total transaction of $299,940.00. Following the sale, the senior vice president now owns 12,875 shares of the company’s stock, valued at approximately $2,574,485. The disclosure for this sale can be found here. Insiders sold a total of 13,931 shares of company stock valued at $2,636,286 over the last 90 days. Insiders own 0.47% of the company’s stock.

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.