Daiwa Securities Group Inc. Trims Stake in Insulet Co. (NASDAQ:PODD)

Daiwa Securities Group Inc. cut its stake in shares of Insulet Co. (NASDAQ:PODD) by 10.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 6,531 shares of the medical instruments supplier’s stock after selling 785 shares during the quarter. Daiwa Securities Group Inc.’s holdings in Insulet were worth $1,417,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the stock. Baillie Gifford & Co. purchased a new position in shares of Insulet during the fourth quarter worth approximately $263,144,000. William Blair Investment Management LLC increased its position in shares of Insulet by 145.1% during the third quarter. William Blair Investment Management LLC now owns 732,923 shares of the medical instruments supplier’s stock worth $116,894,000 after acquiring an additional 433,884 shares during the period. Northern Trust Corp increased its position in shares of Insulet by 7.6% during the third quarter. Northern Trust Corp now owns 681,731 shares of the medical instruments supplier’s stock worth $108,729,000 after acquiring an additional 47,938 shares during the period. Westfield Capital Management Co. LP increased its position in shares of Insulet by 62.4% during the third quarter. Westfield Capital Management Co. LP now owns 637,261 shares of the medical instruments supplier’s stock worth $101,637,000 after acquiring an additional 244,922 shares during the period. Finally, Qube Research & Technologies Ltd increased its position in shares of Insulet by 227.3% during the third quarter. Qube Research & Technologies Ltd now owns 386,687 shares of the medical instruments supplier’s stock worth $61,673,000 after acquiring an additional 268,553 shares during the period.

Insulet Price Performance

Shares of PODD opened at $167.27 on Wednesday. Insulet Co. has a twelve month low of $125.82 and a twelve month high of $335.91. The company has a 50 day moving average of $172.96 and a two-hundred day moving average of $179.44. The company has a quick ratio of 2.62, a current ratio of 3.51 and a debt-to-equity ratio of 1.86. The company has a market cap of $11.71 billion, a price-to-earnings ratio of 57.48, a price-to-earnings-growth ratio of 2.96 and a beta of 0.98.

Insulet (NASDAQ:PODD) last posted its quarterly earnings data on Thursday, February 22nd. The medical instruments supplier reported $1.40 EPS for the quarter, topping the consensus estimate of $0.67 by $0.73. Insulet had a net margin of 12.16% and a return on equity of 32.19%. The business had revenue of $509.80 million during the quarter, compared to the consensus estimate of $461.26 million. During the same period in the previous year, the firm posted $0.55 earnings per share. The business’s revenue for the quarter was up 37.9% compared to the same quarter last year. As a group, analysts predict that Insulet Co. will post 3.08 earnings per share for the current fiscal year.

Insider Transactions at Insulet

In other news, Director Shacey Petrovic sold 11,609 shares of Insulet stock in a transaction on Wednesday, February 28th. The shares were sold at an average price of $162.92, for a total transaction of $1,891,338.28. Following the completion of the sale, the director now directly owns 2,567 shares in the company, valued at $418,215.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders own 0.80% of the company’s stock.

Analyst Upgrades and Downgrades

PODD has been the topic of a number of research reports. Piper Sandler reduced their target price on shares of Insulet from $250.00 to $230.00 and set an “overweight” rating on the stock in a research report on Friday, February 23rd. JPMorgan Chase & Co. increased their price objective on shares of Insulet from $190.00 to $225.00 and gave the company an “overweight” rating in a research note on Friday, February 23rd. Stifel Nicolaus increased their price objective on shares of Insulet from $163.00 to $208.00 and gave the company a “hold” rating in a research note on Monday, February 5th. Finally, Barclays dropped their price objective on shares of Insulet from $214.00 to $213.00 and set an “equal weight” rating on the stock in a research note on Monday, February 26th. Four equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $243.21.

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.