Allspring Global Investments Holdings LLC Sells 111 Shares of Insulet Co. (NASDAQ:PODD)

Allspring Global Investments Holdings LLC lessened its stake in shares of Insulet Co. (NASDAQ:PODD) by 3.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,362 shares of the medical instruments supplier’s stock after selling 111 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Insulet were worth $864,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Blue Trust Inc. boosted its stake in Insulet by 84.1% during the 3rd quarter. Blue Trust Inc. now owns 127 shares of the medical instruments supplier’s stock valued at $30,000 after purchasing an additional 58 shares during the last quarter. Raymond James & Associates raised its position in shares of Insulet by 3.8% during the 3rd quarter. Raymond James & Associates now owns 37,456 shares of the medical instruments supplier’s stock valued at $8,718,000 after purchasing an additional 1,367 shares during the period. Private Advisor Group LLC increased its holdings in Insulet by 131.8% in the 3rd quarter. Private Advisor Group LLC now owns 7,387 shares of the medical instruments supplier’s stock valued at $1,719,000 after acquiring an additional 4,200 shares during the last quarter. International Assets Investment Management LLC increased its holdings in Insulet by 23,175.0% in the 3rd quarter. International Assets Investment Management LLC now owns 37,240 shares of the medical instruments supplier’s stock valued at $8,668,000 after acquiring an additional 37,080 shares during the last quarter. Finally, Joel Isaacson & Co. LLC bought a new stake in Insulet in the 3rd quarter valued at $200,000.

Insulet Price Performance

Shares of NASDAQ PODD opened at $282.80 on Monday. The firm has a 50-day simple moving average of $272.98 and a 200-day simple moving average of $247.87. The stock has a market capitalization of $19.84 billion, a price-to-earnings ratio of 48.84, a price-to-earnings-growth ratio of 3.62 and a beta of 1.23. The company has a quick ratio of 2.80, a current ratio of 3.68 and a debt-to-equity ratio of 1.21. Insulet Co. has a 52 week low of $160.19 and a 52 week 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. Insulet had a net margin of 20.19% and a return on equity of 24.46%. The firm had revenue of $597.50 million during the quarter, compared to analysts’ expectations of $582.02 million. On average, equities analysts predict that Insulet Co. will post 3.92 earnings per share for the current fiscal year.

Insider Buying and Selling at Insulet

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

Wall Street Analysts Forecast Growth

PODD has been the topic of a number of research reports. BTIG Research boosted their target price on shares of Insulet from $260.00 to $270.00 and gave the stock a “buy” rating in a report on Friday, November 8th. TD Cowen upped their price target on shares of Insulet from $264.00 to $324.00 and gave the stock a “buy” rating in a research report on Friday, January 3rd. Piper Sandler boosted their price objective on shares of Insulet from $285.00 to $310.00 and gave the stock an “overweight” rating in a research note on Friday. Canaccord Genuity Group upped their price target on shares of Insulet from $304.00 to $324.00 and gave the company a “buy” rating in a research note on Friday. Finally, JPMorgan Chase & Co. upped their price objective on shares of Insulet from $280.00 to $330.00 and gave the company an “overweight” rating in a report on Thursday, December 12th. Three analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $289.06.

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.