Allspring Global Investments Holdings LLC Increases Position in Insulet Corporation (NASDAQ:PODD)

Allspring Global Investments Holdings LLC increased its holdings in shares of Insulet Corporation (NASDAQ:PODD - Free Report) by 55.5% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 5,229 shares of the medical instruments supplier's stock after acquiring 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 institutional investors have also recently modified their holdings of the company. Achmea Investment Management B.V. boosted its holdings in 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 worth $1,775,000 after buying an additional 1,808 shares during the last quarter. Diversified Trust Co boosted its holdings in Insulet by 144.1% in the 1st quarter. Diversified Trust Co now owns 3,622 shares of the medical instruments supplier's stock worth $951,000 after buying an additional 2,138 shares during the last quarter. Board of the Pension Protection Fund boosted its holdings in 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 worth $446,000 after buying an additional 100 shares during the last quarter. Perpetual Ltd acquired a new stake in Insulet in the 1st quarter worth about $3,097,000. Finally, PDS Planning Inc acquired a new stake in Insulet in the 1st quarter worth about $208,000.

Analysts Set New Price Targets

Several research analysts have recently weighed in on PODD shares. Raymond James Financial restated an "outperform" rating and set a $360.00 target price (up from $328.00) on shares of Insulet in a report on Tuesday, May 27th. Wells Fargo & Company set a $322.00 target price on Insulet in a report on Monday, April 28th. Sanford C. Bernstein restated an "outperform" rating on shares of Insulet in a report on Friday, May 16th. Oppenheimer lifted their price target on shares of Insulet from $312.00 to $324.00 and gave the company an "outperform" rating in a research report on Friday, May 9th. Finally, Wolfe Research raised shares of Insulet from a "peer perform" rating to an "outperform" rating and set a $350.00 price target on the stock in a research report on Tuesday, May 13th. Four equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $321.00.

Insider Buying and Selling at Insulet

In other Insulet news, SVP John W. Kapples sold 5,278 shares of the company's stock in a transaction on Wednesday, May 14th. The shares were 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 owned 23,180 shares in the company, valued at $7,382,134.60. This represents a 18.55% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Corporate insiders own 0.39% of the company's stock.

Insulet Stock Down 2.7%

Shares of Insulet stock traded down $8.08 during trading hours on Friday, reaching $289.32. 507,503 shares of the company were exchanged, compared to its average volume of 719,977. Insulet Corporation has a 1 year low of $173.00 and a 1 year high of $329.33. The stock's fifty day moving average is $306.65 and its 200 day moving average is $279.85. The company has a debt-to-equity ratio of 1.21, a quick ratio of 3.63 and a current ratio of 4.47. The firm has a market cap of $20.36 billion, a PE ratio of 52.04, a PEG ratio of 2.65 and a beta of 1.35.

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, topping analysts' consensus estimates of $0.81 by $0.21. Insulet had a return on equity of 22.25% and a net margin of 18.29%. The business had revenue of $569.00 million for the quarter, compared to analyst estimates of $543.20 million. During the same quarter in the prior year, the company earned $0.73 earnings per share. The company's revenue was up 28.8% on a year-over-year basis. As a group, equities research analysts forecast that Insulet Corporation will post 3.92 earnings per share for the current 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.