Allspring Global Investments Holdings LLC Has $1.38 Million Stake in Insulet Corporation (NASDAQ:PODD)

Allspring Global Investments Holdings LLC grew its holdings in Insulet Corporation (NASDAQ:PODD - Free Report) by 55.5% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 5,229 shares of the medical instruments supplier's stock after purchasing an additional 1,867 shares during the period. Allspring Global Investments Holdings LLC's holdings in Insulet were worth $1,376,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Achmea Investment Management B.V. grew its stake in shares of Insulet by 36.5% in the 1st quarter. Achmea Investment Management B.V. now owns 6,757 shares of the medical instruments supplier's stock valued at $1,775,000 after buying an additional 1,808 shares in the last quarter. Diversified Trust Co grew its stake in shares of Insulet by 144.1% in the 1st quarter. Diversified Trust Co now owns 3,622 shares of the medical instruments supplier's stock valued at $951,000 after buying an additional 2,138 shares in the last quarter. Board of the Pension Protection Fund grew its stake in shares of Insulet by 6.3% in the 1st quarter. Board of the Pension Protection Fund now owns 1,700 shares of the medical instruments supplier's stock valued at $446,000 after buying an additional 100 shares in the last quarter. Perpetual Ltd bought a new stake in shares of Insulet in the 1st quarter valued at approximately $3,097,000. Finally, PDS Planning Inc bought a new stake in shares of Insulet in the 1st quarter valued at approximately $208,000.

Insulet Stock Down 0.1%

PODD opened at $300.70 on Tuesday. Insulet Corporation has a 1-year low of $173.00 and a 1-year high of $329.33. The company has a current ratio of 4.47, a quick ratio of 3.63 and a debt-to-equity ratio of 1.21. The stock has a market capitalization of $21.16 billion, a price-to-earnings ratio of 54.08, a P/E/G ratio of 2.69 and a beta of 1.35. The business has a 50 day moving average of $303.89 and a 200-day moving average of $279.37.

Insulet (NASDAQ:PODD - Get Free Report) last posted its quarterly earnings data on Thursday, May 8th. The medical instruments supplier reported $1.02 earnings per share for the quarter, beating the consensus estimate of $0.81 by $0.21. The company had revenue of $569.00 million during the quarter, compared to analysts' expectations of $543.20 million. Insulet had a return on equity of 22.25% and a net margin of 18.29%. Insulet's revenue for the quarter was up 28.8% compared to the same quarter last year. During the same period in the prior year, the business earned $0.73 earnings per share. As a group, sell-side analysts anticipate that Insulet Corporation will post 3.92 earnings per share for the current year.

Insider Activity at Insulet

In related news, SVP John W. Kapples sold 5,278 shares of the company's stock in a transaction on Wednesday, May 14th. The stock was sold at an average price of $318.47, for a total value of $1,680,884.66. Following the completion of the transaction, the senior vice president directly owned 23,180 shares in the company, valued at approximately $7,382,134.60. This represents a 18.55% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 0.39% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages recently commented on PODD. Barclays boosted their price target on Insulet from $234.00 to $266.00 and gave the company an "equal weight" rating in a research note on Wednesday, April 30th. Oppenheimer boosted their price target on Insulet from $312.00 to $324.00 and gave the company an "outperform" rating in a research note on Friday, May 9th. Raymond James Financial reissued an "outperform" rating and issued a $360.00 price target (up previously from $328.00) on shares of Insulet in a research note on Tuesday, May 27th. Wells Fargo & Company set a $322.00 target price on Insulet in a research report on Monday, April 28th. Finally, Citigroup reaffirmed a "buy" rating and set a $380.00 target price (up previously from $320.00) on shares of Insulet in a research report on Thursday, May 22nd. Four investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $321.00.

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.

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