Nuveen LLC Takes Position in Insulet Corporation (NASDAQ:PODD)

Key Points

• Nuveen LLC has invested approximately $74.16 million in Insulet Corporation, acquiring 282,407 shares and now holding 0.40% of the company's stock.
• Analysts are optimistic about Insulet, with 17 out of 19 analysts assigning a buy rating and a consensus price target of $330.71.
• Insulet reported a strong earnings performance with a $1.17 earnings per share for the last quarter, outperforming expectations and reflecting a 32.9% year-over-year revenue growth.

Nuveen LLC acquired a new position in Insulet Corporation (NASDAQ:PODD - Free Report) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 282,407 shares of the medical instruments supplier's stock, valued at approximately $74,163,000. Nuveen LLC owned 0.40% of Insulet at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of the business. Zions Bancorporation National Association UT purchased a new stake in Insulet in the 1st quarter worth approximately $26,000. Larson Financial Group LLC lifted its stake in Insulet by 426.3% in the 1st quarter. Larson Financial Group LLC now owns 100 shares of the medical instruments supplier's stock worth $26,000 after purchasing an additional 81 shares in the last quarter. Itau Unibanco Holding S.A. purchased a new stake in Insulet in the 4th quarter worth approximately $42,000. Ramirez Asset Management Inc. purchased a new stake in shares of Insulet during the 1st quarter valued at $53,000. Finally, Golden State Wealth Management LLC raised its position in shares of Insulet by 553.1% during the 1st quarter. Golden State Wealth Management LLC now owns 209 shares of the medical instruments supplier's stock valued at $55,000 after buying an additional 177 shares in the last quarter.

Wall Street Analyst Weigh In

PODD has been the topic of several research reports. Citigroup restated a "buy" rating on shares of Insulet in a research report on Tuesday, July 8th. The Goldman Sachs Group initiated coverage on shares of Insulet in a research report on Friday, May 30th. They set a "buy" rating and a $380.00 price objective on the stock. Sanford C. Bernstein restated an "outperform" rating on shares of Insulet in a research report on Friday, May 16th. Morgan Stanley restated an "overweight" rating on shares of Insulet in a research report on Thursday, August 7th. Finally, Royal Bank Of Canada raised their price objective on shares of Insulet from $330.00 to $350.00 and gave the company an "outperform" rating in a research report on Friday, August 8th. Two equities research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $330.71.

Insulet Trading Up 1.7%

Insulet stock traded up $5.49 during trading hours on Friday, reaching $321.27. The stock had a trading volume of 617,194 shares, compared to its average volume of 695,485. The stock has a market cap of $22.61 billion, a PE ratio of 97.65, a PEG ratio of 2.69 and a beta of 1.35. Insulet Corporation has a 52 week low of $180.31 and a 52 week high of $329.33. The company has a debt-to-equity ratio of 0.64, a current ratio of 2.26 and a quick ratio of 1.81. The company has a fifty day simple moving average of $298.40 and a 200-day simple moving average of $284.23.

Insulet (NASDAQ:PODD - Get Free Report) last announced its quarterly earnings results on Thursday, August 7th. The medical instruments supplier reported $1.17 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.92 by $0.25. The business had revenue of $649.10 million for the quarter, compared to analyst estimates of $612.31 million. Insulet had a net margin of 10.01% and a return on equity of 23.78%. The company's revenue was up 32.9% on a year-over-year basis. During the same quarter last year, the firm earned $0.55 EPS. Analysts forecast that Insulet Corporation will post 3.92 EPS for the current fiscal 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.