Allspring Global Investments Holdings LLC Sells 104 Shares of Insulet Co. (NASDAQ:PODD)

Allspring Global Investments Holdings LLC decreased its holdings in Insulet Co. (NASDAQ:PODD) by 2.9% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,481 shares of the medical instruments supplier’s stock after selling 104 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Insulet were worth $755,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently bought and sold shares of the business. New York Life Investment Management LLC raised its stake in Insulet by 0.8% in the third quarter. New York Life Investment Management LLC now owns 10,035 shares of the medical instruments supplier’s stock worth $1,600,000 after buying an additional 82 shares in the last quarter. Allworth Financial LP raised its stake in Insulet by 104.5% in the third quarter. Allworth Financial LP now owns 180 shares of the medical instruments supplier’s stock worth $29,000 after buying an additional 92 shares in the last quarter. Daiwa Securities Group Inc. raised its stake in Insulet by 1.3% in the third quarter. Daiwa Securities Group Inc. now owns 7,316 shares of the medical instruments supplier’s stock worth $1,167,000 after buying an additional 93 shares in the last quarter. KB Financial Partners LLC raised its stake in Insulet by 45.4% in the third quarter. KB Financial Partners LLC now owns 317 shares of the medical instruments supplier’s stock worth $51,000 after buying an additional 99 shares in the last quarter. Finally, GPS Wealth Strategies Group LLC raised its stake in Insulet by 41.7% in the third quarter. GPS Wealth Strategies Group LLC now owns 340 shares of the medical instruments supplier’s stock worth $54,000 after buying an additional 100 shares in the last quarter.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the stock. Barclays reduced their price objective on shares of Insulet from $214.00 to $213.00 and set an “equal weight” rating for the company in a research note on Monday, February 26th. Stifel Nicolaus lifted their price target on shares of Insulet from $163.00 to $208.00 and gave the stock a “hold” rating in a report on Monday, February 5th. Piper Sandler cut their price target on shares of Insulet from $250.00 to $230.00 and set an “overweight” rating on the stock in a report on Friday, February 23rd. Finally, JPMorgan Chase & Co. lifted their price target on shares of Insulet from $190.00 to $225.00 and gave the stock an “overweight” rating in a report on Friday, February 23rd. Four investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $243.21.

Insider Buying and Selling at Insulet

In other Insulet news, Director Shacey Petrovic sold 11,609 shares of the company’s stock in a transaction on Wednesday, February 28th. The shares were sold at an average price of $162.92, for a total value of $1,891,338.28. Following the sale, the director now directly owns 2,567 shares of the company’s stock, valued at $418,215.64. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 0.80% of the stock is owned by corporate insiders.

Insulet Price Performance

NASDAQ:PODD opened at $167.25 on Thursday. Insulet Co. has a one year low of $125.82 and a one year high of $335.91. The company has a debt-to-equity ratio of 1.86, a quick ratio of 2.62 and a current ratio of 3.51. The firm has a market cap of $11.71 billion, a price-to-earnings ratio of 57.47, a PEG ratio of 2.96 and a beta of 0.98. The firm’s fifty day moving average is $172.53 and its two-hundred day moving average is $179.35.

Insulet (NASDAQ:PODD) last posted its quarterly earnings results on Thursday, February 22nd. The medical instruments supplier reported $1.40 EPS for the quarter, beating the consensus estimate of $0.67 by $0.73. Insulet had a net margin of 12.16% and a return on equity of 32.19%. The company had revenue of $509.80 million for the quarter, compared to analyst estimates of $461.26 million. During the same period in the prior year, the company earned $0.55 earnings per share. The firm’s revenue was up 37.9% on a year-over-year basis. Research analysts expect that Insulet Co. will post 3.08 EPS for the current year.

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.