Baird Financial Group Inc. Reduces Stock Holdings in Insulet Corporation $PODD

Baird Financial Group Inc. cut its holdings in Insulet Corporation (NASDAQ:PODD) by 25.6% in the second quarter, according to the company in its most recent disclosure with the SEC. The fund owned 188,058 shares of the medical instruments supplier’s stock after selling 64,842 shares during the quarter. Baird Financial Group Inc. owned about 0.27% of Insulet worth $59,084,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in PODD. Zions Bancorporation National Association UT purchased a new stake in shares of Insulet during the first quarter worth about $26,000. SouthState Corp boosted its stake in Insulet by 253.3% in the 1st quarter. SouthState Corp now owns 106 shares of the medical instruments supplier’s stock worth $28,000 after purchasing an additional 76 shares in the last quarter. Kozak & Associates Inc. acquired a new stake in Insulet in the 2nd quarter worth approximately $32,000. Golden State Wealth Management LLC grew its position in Insulet by 202.9% during the 2nd quarter. Golden State Wealth Management LLC now owns 103 shares of the medical instruments supplier’s stock worth $32,000 after purchasing an additional 69 shares during the last quarter. Finally, Trust Co. of Toledo NA OH acquired a new position in Insulet during the 2nd quarter valued at approximately $35,000.

Insulet Stock Up 2.7%

PODD opened at $315.92 on Friday. The company has a fifty day moving average of $320.58 and a two-hundred day moving average of $316.08. The stock has a market capitalization of $22.22 billion, a price-to-earnings ratio of 91.57, a PEG ratio of 2.17 and a beta of 1.37. Insulet Corporation has a fifty-two week low of $230.05 and a fifty-two week high of $354.88. The company has a debt-to-equity ratio of 0.68, a quick ratio of 2.18 and a current ratio of 2.87.

Insulet (NASDAQ:PODD) last posted its earnings results on Thursday, November 6th. The medical instruments supplier reported $1.24 EPS for the quarter, beating analysts’ consensus estimates of $1.13 by $0.11. Insulet had a return on equity of 24.36% and a net margin of 9.76%.The firm had revenue of $521.70 million for the quarter, compared to analysts’ expectations of $678.70 million. During the same period last year, the firm earned $1.08 EPS. The company’s quarterly revenue was up 29.9% on a year-over-year basis. On average, research analysts expect that Insulet Corporation will post 3.92 earnings per share for the current year.

Analyst Upgrades and Downgrades

PODD has been the subject of a number of research analyst reports. Canaccord Genuity Group raised their price target on shares of Insulet from $428.00 to $432.00 and gave the stock a “buy” rating in a report on Monday, November 24th. Barclays upped their target price on Insulet from $300.00 to $301.00 and gave the company an “equal weight” rating in a research report on Wednesday, November 5th. Jefferies Financial Group raised their target price on Insulet from $375.00 to $400.00 and gave the stock a “buy” rating in a research note on Thursday, November 6th. JPMorgan Chase & Co. boosted their price target on Insulet from $340.00 to $415.00 and gave the company an “overweight” rating in a research note on Friday, September 12th. Finally, Rothschild & Co Redburn increased their price objective on Insulet from $350.00 to $370.00 and gave the company a “buy” rating in a report on Friday, October 3rd. One investment analyst has rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $379.65.

Insider Activity at Insulet

In other news, SVP Prem Singh sold 687 shares of the business’s stock in a transaction that occurred on Monday, September 8th. The stock was sold at an average price of $347.49, for a total value of $238,725.63. Following the completion of the sale, the senior vice president directly owned 3,456 shares in the company, valued at $1,200,925.44. The trade was a 16.58% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Laetitia Cousin sold 797 shares of the company’s stock in a transaction that occurred on Monday, September 8th. The stock was sold at an average price of $348.81, for a total value of $278,001.57. Following the transaction, the senior vice president directly owned 3,890 shares of the company’s stock, valued at approximately $1,356,870.90. The trade was a 17.00% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.39% of the stock is currently owned by company insiders.

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.