Baird Financial Group Inc. Cuts Stock Position in Insulet Co. (NASDAQ:PODD)

Baird Financial Group Inc. cut its holdings in shares of Insulet Co. (NASDAQ:PODD - Free Report) by 8.2% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 294,615 shares of the medical instruments supplier's stock after selling 26,192 shares during the quarter. Baird Financial Group Inc. owned approximately 0.42% of Insulet worth $76,915,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Horizon Investments LLC grew its holdings in Insulet by 3.1% during the fourth quarter. Horizon Investments LLC now owns 1,387 shares of the medical instruments supplier's stock valued at $362,000 after purchasing an additional 42 shares during the period. Nisa Investment Advisors LLC grew its stake in shares of Insulet by 1.0% during the 4th quarter. Nisa Investment Advisors LLC now owns 4,388 shares of the medical instruments supplier's stock worth $1,146,000 after acquiring an additional 43 shares during the period. Graypoint LLC increased its holdings in Insulet by 5.3% in the 4th quarter. Graypoint LLC now owns 930 shares of the medical instruments supplier's stock worth $243,000 after acquiring an additional 47 shares during the last quarter. Wilmington Savings Fund Society FSB raised its stake in Insulet by 9.6% in the 4th quarter. Wilmington Savings Fund Society FSB now owns 538 shares of the medical instruments supplier's stock valued at $140,000 after acquiring an additional 47 shares during the period. Finally, Envestnet Portfolio Solutions Inc. lifted its holdings in Insulet by 2.3% during the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 2,113 shares of the medical instruments supplier's stock valued at $552,000 after purchasing an additional 48 shares during the last quarter.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on PODD shares. Canaccord Genuity Group boosted their price target on shares of Insulet from $304.00 to $324.00 and gave the company a "buy" rating in a research report on Friday, February 21st. Piper Sandler boosted their target price on shares of Insulet from $285.00 to $310.00 and gave the company an "overweight" rating in a report on Friday, February 21st. Barclays raised their price target on Insulet from $234.00 to $266.00 and gave the stock an "equal weight" rating in a report on Wednesday, April 30th. Wolfe Research lowered Insulet from an "outperform" rating to a "peer perform" rating in a research note on Tuesday, April 29th. Finally, Royal Bank of Canada initiated coverage on Insulet in a research note on Thursday, March 6th. They issued an "outperform" rating and a $340.00 target price for the company. Five analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat, Insulet presently has a consensus rating of "Moderate Buy" and an average price target of $293.94.

Insider Buying and Selling at Insulet

In other Insulet news, Director Wayne A.I. Frederick sold 1,825 shares of the company's stock in a transaction dated Tuesday, March 25th. The shares were sold at an average price of $275.00, for a total transaction of $501,875.00. Following the completion of the sale, the director now directly owns 3,231 shares in the company, valued at $888,525. This represents a 36.10 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Company insiders own 0.47% of the company's stock.

Insulet Stock Up 2.7 %

Shares of NASDAQ:PODD opened at $257.01 on Monday. The firm has a market capitalization of $18.08 billion, a PE ratio of 44.39, a price-to-earnings-growth ratio of 3.62 and a beta of 1.26. The company has a debt-to-equity ratio of 1.21, a quick ratio of 2.80 and a current ratio of 3.68. Insulet Co. has a 52-week low of $160.19 and a 52-week high of $289.46. The firm has a fifty day moving average of $257.51 and a 200 day moving average of $262.71.

Insulet (NASDAQ:PODD - Get Free Report) last posted its quarterly earnings data on Thursday, February 20th. The medical instruments supplier reported $1.15 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.00 by $0.15. The firm had revenue of $597.50 million during the quarter, compared to analysts' expectations of $582.02 million. Insulet had a return on equity of 24.46% and a net margin of 20.19%. As a group, research analysts anticipate that Insulet Co. will post 3.92 EPS for the current fiscal year.

Insulet Company 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.

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