Bank of New York Mellon Corp Boosts Stake in Insulet Corporation $PODD

Bank of New York Mellon Corp increased its stake in shares of Insulet Corporation (NASDAQ:PODD) by 1.2% during the third quarter, Holdings Channel.com reports. The institutional investor owned 409,055 shares of the medical instruments supplier’s stock after buying an additional 4,898 shares during the quarter. Bank of New York Mellon Corp’s holdings in Insulet were worth $126,287,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. True Wealth Design LLC grew its stake in Insulet by 288.0% during the 3rd quarter. True Wealth Design LLC now owns 97 shares of the medical instruments supplier’s stock valued at $30,000 after purchasing an additional 72 shares during the last quarter. Golden State Wealth Management LLC raised its stake in shares of Insulet by 202.9% in the second quarter. Golden State Wealth Management LLC now owns 103 shares of the medical instruments supplier’s stock worth $32,000 after purchasing an additional 69 shares during the last quarter. Trust Co. of Toledo NA OH acquired a new stake in shares of Insulet during the second quarter worth about $35,000. Whittier Trust Co. of Nevada Inc. boosted its position in Insulet by 48.9% in the third quarter. Whittier Trust Co. of Nevada Inc. now owns 131 shares of the medical instruments supplier’s stock valued at $40,000 after buying an additional 43 shares during the last quarter. Finally, Quent Capital LLC acquired a new position in Insulet in the 3rd quarter worth approximately $49,000.

Analyst Ratings Changes

A number of equities analysts have issued reports on PODD shares. Raymond James Financial raised their price target on shares of Insulet from $366.00 to $385.00 and gave the stock an “outperform” rating in a research report on Friday, November 21st. TD Cowen cut shares of Insulet from a “buy” rating to a “hold” rating and set a $294.00 target price for the company. in a report on Monday, January 26th. BTIG Research upped their price target on shares of Insulet from $370.00 to $380.00 and gave the company a “buy” rating in a report on Friday, November 21st. Evercore ISI assumed coverage on Insulet in a research report on Tuesday, December 16th. They set an “outperform” rating and a $370.00 price target on the stock. Finally, Sanford C. Bernstein decreased their price objective on Insulet from $410.00 to $380.00 and set an “outperform” rating for the company in a report on Friday, January 9th. Twenty investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $375.05.

Insulet Trading Up 0.3%

PODD stock opened at $255.81 on Friday. The company’s 50-day simple moving average is $291.55 and its 200-day simple moving average is $309.12. The company has a quick ratio of 2.18, a current ratio of 2.87 and a debt-to-equity ratio of 0.68. Insulet Corporation has a 52-week low of $230.05 and a 52-week high of $354.88. The firm has a market cap of $18.00 billion, a P/E ratio of 74.15, a PEG ratio of 1.42 and a beta of 1.40.

Insulet (NASDAQ:PODD) last announced its quarterly earnings results on Thursday, November 6th. The medical instruments supplier reported $1.24 earnings per share for the quarter, beating the consensus estimate of $1.13 by $0.11. The firm had revenue of $521.70 million during the quarter, compared to analyst estimates of $678.70 million. Insulet had a return on equity of 24.36% and a net margin of 9.76%.Insulet’s revenue for the quarter was up 29.9% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.08 EPS. As a group, equities analysts forecast that Insulet Corporation will post 3.92 EPS 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.