Allspring Global Investments Holdings LLC Trims Holdings in Insulet Co. (NASDAQ:PODD)

Allspring Global Investments Holdings LLC decreased its holdings in Insulet Co. (NASDAQ:PODD) by 3.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,362 shares of the medical instruments supplier’s stock after selling 111 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Insulet were worth $864,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of PODD. Baillie Gifford & Co. grew its stake in shares of Insulet by 20.7% during the 3rd quarter. Baillie Gifford & Co. now owns 2,275,701 shares of the medical instruments supplier’s stock worth $529,669,000 after purchasing an additional 389,639 shares during the period. Mizuho Securities USA LLC grew its stake in Insulet by 5,928.1% in the 3rd quarter. Mizuho Securities USA LLC now owns 325,821 shares of the medical instruments supplier’s stock valued at $75,835,000 after acquiring an additional 320,416 shares during the last quarter. Charles Schwab Investment Management Inc. grew its stake in Insulet by 43.8% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 636,265 shares of the medical instruments supplier’s stock valued at $148,091,000 after acquiring an additional 193,839 shares during the last quarter. Westfield Capital Management Co. LP boosted its stake in shares of Insulet by 27.6% during the 3rd quarter. Westfield Capital Management Co. LP now owns 754,872 shares of the medical instruments supplier’s stock worth $175,697,000 after purchasing an additional 163,388 shares during the last quarter. Finally, Caisse DE Depot ET Placement DU Quebec acquired a new stake in shares of Insulet during the 3rd quarter worth about $16,342,000.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the stock. Piper Sandler raised their price target on shares of Insulet from $285.00 to $310.00 and gave the stock an “overweight” rating in a research note on Friday. Raymond James restated an “outperform” rating and issued a $328.00 price target (up previously from $294.00) on shares of Insulet in a report on Friday. BTIG Research raised their price target on shares of Insulet from $260.00 to $270.00 and gave the company a “buy” rating in a report on Friday, November 8th. Wells Fargo & Company lifted their price objective on shares of Insulet from $305.00 to $322.00 and gave the company an “overweight” rating in a research note on Friday. Finally, Sanford C. Bernstein started coverage on shares of Insulet in a research note on Wednesday, November 6th. They set an “outperform” rating and a $300.00 price objective on the stock. Three investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $289.06.

Insider Activity

In related news, CAO Lauren Budden sold 915 shares of Insulet stock in a transaction dated Tuesday, December 10th. The shares were sold at an average price of $275.62, for a total transaction of $252,192.30. Following the sale, the chief accounting officer now directly owns 5,733 shares in the company, valued at $1,580,129.46. The trade was a 13.76 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Eric Benjamin sold 12,394 shares of the business’s stock in a transaction dated Tuesday, January 21st. The stock was sold at an average price of $280.00, for a total transaction of $3,470,320.00. Following the completion of the sale, the executive vice president now owns 11,383 shares in the company, valued at approximately $3,187,240. This trade represents a 52.13 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.47% of the company’s stock.

Insulet Stock Performance

Insulet stock opened at $282.80 on Monday. The company has a market cap of $19.84 billion, a PE ratio of 48.84, a P/E/G ratio of 3.62 and a beta of 1.23. The company has a fifty day moving average price of $272.98 and a two-hundred day moving average price of $247.87. The company has a debt-to-equity ratio of 1.21, a current ratio of 3.68 and a quick ratio of 2.80. Insulet Co. has a 12 month low of $160.19 and a 12 month high of $289.46.

Insulet (NASDAQ:PODD) last announced its quarterly earnings results on Thursday, February 20th. The medical instruments supplier reported $1.15 earnings per share (EPS) for the quarter, beating 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 company had revenue of $597.50 million during the quarter, compared to the consensus estimate of $582.02 million. Research analysts expect that Insulet Co. will post 3.92 earnings per share for the current year.

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.