M&T Bank Corp lowered its stake in Insulet Co. (NASDAQ:PODD) by 10.4% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 6,865 shares of the medical instruments supplier’s stock after selling 797 shares during the period. M&T Bank Corp’s holdings in Insulet were worth $820,000 as of its most recent SEC filing.
Several other large investors also recently made changes to their positions in the business. Capital Fund Management S.A. acquired a new position in shares of Insulet during the 2nd quarter valued at about $763,000. LPL Financial LLC grew its holdings in Insulet by 44.8% during the second quarter. LPL Financial LLC now owns 7,232 shares of the medical instruments supplier’s stock valued at $863,000 after purchasing an additional 2,238 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of Insulet by 2.7% in the second quarter. Charles Schwab Investment Management Inc. now owns 365,617 shares of the medical instruments supplier’s stock valued at $43,648,000 after purchasing an additional 9,446 shares during the period. Oppenheimer Asset Management Inc. raised its position in shares of Insulet by 4.4% in the second quarter. Oppenheimer Asset Management Inc. now owns 10,640 shares of the medical instruments supplier’s stock valued at $1,270,000 after purchasing an additional 452 shares during the period. Finally, Jennison Associates LLC lifted its stake in shares of Insulet by 53.6% in the second quarter. Jennison Associates LLC now owns 283,817 shares of the medical instruments supplier’s stock worth $33,882,000 after buying an additional 98,995 shares during the last quarter.
NASDAQ:PODD traded down $0.76 during trading hours on Wednesday, hitting $145.61. 9,873 shares of the company traded hands, compared to its average volume of 1,086,915. The stock has a market capitalization of $8.89 billion, a price-to-earnings ratio of 2,915.00 and a beta of 1.01. Insulet Co. has a twelve month low of $70.80 and a twelve month high of $168.00. The firm has a 50-day moving average of $143.97 and a 200 day moving average of $113.42. The company has a current ratio of 4.72, a quick ratio of 3.91 and a debt-to-equity ratio of 2.43.
In related news, CEO Shacey Petrovic sold 649 shares of Insulet stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $152.40, for a total transaction of $98,907.60. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP Michael P. Spears sold 4,153 shares of the business’s stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $146.12, for a total value of $606,836.36. Following the transaction, the senior vice president now owns 22,626 shares in the company, valued at $3,306,111.12. The disclosure for this sale can be found here. 3.50% of the stock is currently owned by company insiders.
Several analysts recently issued reports on the stock. Northland Securities downgraded shares of Insulet from an “outperform” rating to a “market perform” rating and set a $100.00 price objective for the company. in a report on Monday, June 10th. UBS Group boosted their target price on shares of Insulet from $110.00 to $130.00 and gave the stock a “buy” rating in a research report on Thursday, June 13th. Svb Leerink restated an “outperform” rating on shares of Insulet in a report on Wednesday, July 10th. BidaskClub upgraded shares of Insulet from a “buy” rating to a “strong-buy” rating in a report on Saturday, July 13th. Finally, BMO Capital Markets raised their price target on Insulet from $130.00 to $150.00 and gave the company an “outperform” rating in a research report on Tuesday, August 6th. Four research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of $131.71.
Insulet Corporation develops, manufactures, and sells insulin delivery systems for people with insulin-dependent diabetes. The company offers Omnipod System, which consists of self-adhesive disposable tubeless Omnipod device (the pod) that delivers insulin into the body; and Personal Diabetes Manager, a handheld wireless device, which programs the Pod.
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