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

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

A number of other institutional investors and hedge funds have also made changes to their positions in PODD. Parkside Financial Bank & Trust raised its stake in shares of Insulet by 251.0% in the 3rd quarter. Parkside Financial Bank & Trust now owns 172 shares of the medical instruments supplier’s stock valued at $27,000 after acquiring an additional 123 shares during the period. Allworth Financial LP increased its stake in Insulet by 104.5% during the 3rd quarter. Allworth Financial LP now owns 180 shares of the medical instruments supplier’s stock worth $29,000 after buying an additional 92 shares during the period. Wolff Wiese Magana LLC increased its stake in Insulet by 2,680.0% during the 4th quarter. Wolff Wiese Magana LLC now owns 139 shares of the medical instruments supplier’s stock worth $30,000 after buying an additional 134 shares during the period. BluePath Capital Management LLC purchased a new stake in Insulet during the 3rd quarter worth approximately $31,000. Finally, Turtle Creek Wealth Advisors LLC purchased a new stake in Insulet during the 4th quarter worth approximately $43,000.

Wall Street Analysts Forecast Growth

PODD has been the topic of several recent research reports. Stifel Nicolaus upped their target price on shares of Insulet from $163.00 to $208.00 and gave the stock a “hold” rating in a research note on Monday, February 5th. Piper Sandler cut their target price on shares of Insulet from $250.00 to $230.00 and set an “overweight” rating on the stock in a research note on Friday, February 23rd. Barclays cut their target price 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. Finally, 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 report on Friday, February 23rd. Four analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat, Insulet presently has a consensus rating of “Moderate Buy” and an average price target of $243.21.

Insulet Trading Up 1.7 %

Shares of Insulet stock opened at $167.27 on Wednesday. The company has a fifty day simple moving average of $172.96 and a 200-day simple moving average of $179.44. Insulet Co. has a 12-month low of $125.82 and a 12-month high of $335.91. The company has a current ratio of 3.51, a quick ratio of 2.62 and a debt-to-equity ratio of 1.86. The stock has a market cap of $11.71 billion, a price-to-earnings ratio of 57.48, a PEG ratio of 2.96 and a beta of 0.98.

Insulet (NASDAQ:PODD) last issued its earnings results on Thursday, February 22nd. The medical instruments supplier reported $1.40 earnings per share (EPS) for the quarter, beating 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 analysts’ expectations of $461.26 million. During the same quarter in the prior year, the business posted $0.55 EPS. The company’s revenue for the quarter was up 37.9% on a year-over-year basis. On average, equities analysts forecast that Insulet Co. will post 3.08 EPS for the current fiscal year.

Insider Activity

In related news, Director Shacey Petrovic sold 11,609 shares of the 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 owns 2,567 shares in the company, valued at approximately $418,215.64. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 0.80% of the company’s stock.

About Insulet

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.