Nuveen Asset Management LLC Reduces Stock Position in Insulet Co. (NASDAQ:PODD)

Nuveen Asset Management LLC lowered its holdings in Insulet Co. (NASDAQ:PODD - Free Report) by 6.6% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 228,338 shares of the medical instruments supplier's stock after selling 16,134 shares during the quarter. Nuveen Asset Management LLC owned about 0.33% of Insulet worth $59,612,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Integral Health Asset Management LLC bought a new position in shares of Insulet in the fourth quarter valued at $5,221,000. Investment Management Corp of Ontario raised its holdings in shares of Insulet by 36.5% in the 4th quarter. Investment Management Corp of Ontario now owns 3,099 shares of the medical instruments supplier's stock worth $809,000 after acquiring an additional 828 shares during the last quarter. Iron Triangle Partners LP raised its holdings in shares of Insulet by 40.0% in the 4th quarter. Iron Triangle Partners LP now owns 154,014 shares of the medical instruments supplier's stock worth $40,208,000 after acquiring an additional 44,014 shares during the last quarter. Janus Henderson Group PLC lifted its position in Insulet by 7.0% in the 4th quarter. Janus Henderson Group PLC now owns 7,846 shares of the medical instruments supplier's stock valued at $2,049,000 after acquiring an additional 511 shares in the last quarter. Finally, Gotham Asset Management LLC boosted its stake in Insulet by 57.2% during the 4th quarter. Gotham Asset Management LLC now owns 6,827 shares of the medical instruments supplier's stock valued at $1,782,000 after purchasing an additional 2,485 shares during the last quarter.

Analyst Upgrades and Downgrades

PODD has been the subject of a number of recent research reports. Wells Fargo & Company set a $322.00 price objective on Insulet in a report on Monday, April 28th. Royal Bank of Canada started coverage on Insulet in a report on Thursday, March 6th. They set an "outperform" rating and a $340.00 price target for the company. Wall Street Zen lowered Insulet from a "buy" rating to a "hold" rating in a research report on Thursday. Raymond James reaffirmed an "outperform" rating and set a $328.00 price objective (up from $294.00) on shares of Insulet in a report on Friday, February 21st. Finally, Canaccord Genuity Group upped their target price on shares of Insulet from $304.00 to $324.00 and gave the stock a "buy" rating in a research note on Friday, February 21st. Four equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat.com, Insulet presently has an average rating of "Moderate Buy" and an average target price of $308.00.

Insulet Stock Performance

NASDAQ PODD traded down $3.50 during trading hours on Thursday, reaching $321.00. 991,446 shares of the company were exchanged, compared to its average volume of 708,855. The stock has a market capitalization of $22.59 billion, a P/E ratio of 55.44, a P/E/G ratio of 3.62 and a beta of 1.26. The company has a quick ratio of 2.80, a current ratio of 3.68 and a debt-to-equity ratio of 1.21. Insulet Co. has a 1 year low of $170.67 and a 1 year high of $329.33. The business's 50 day simple moving average is $268.73 and its 200-day simple moving average is $268.38.

Insulet (NASDAQ:PODD - Get Free Report) last issued its quarterly earnings results on Thursday, May 8th. The medical instruments supplier reported $1.02 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.81 by $0.21. Insulet had a net margin of 20.19% and a return on equity of 24.46%. The company had revenue of $569.00 million during the quarter, compared to analyst estimates of $543.20 million. During the same quarter last year, the business posted $0.73 EPS. Insulet's quarterly revenue was up 28.8% compared to the same quarter last year. On average, equities research analysts expect that Insulet Co. will post 3.92 earnings per share for the current year.

Insiders Place Their Bets

In other 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 transaction of $1,680,884.66. Following the transaction, the senior vice president now owns 23,180 shares of the company's stock, valued at $7,382,134.60. This represents a 18.55% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Wayne A.I. Frederick sold 1,825 shares of Insulet stock in a transaction dated Tuesday, March 25th. The stock was sold at an average price of $275.00, for a total value of $501,875.00. Following the completion of the sale, the director now directly owns 3,231 shares of the company's stock, valued at approximately $888,525. This trade represents a 36.10% decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.39% of the company's stock.

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.