Nomura Asset Management Co. Ltd. Trims Stake in Insulet Co. (NASDAQ:PODD)

Nomura Asset Management Co. Ltd. cut its holdings in shares of Insulet Co. (NASDAQ:PODD) by 5.4% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 145,199 shares of the medical instruments supplier’s stock after selling 8,217 shares during the quarter. Nomura Asset Management Co. Ltd. owned about 0.21% of Insulet worth $37,907,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of PODD. Boussard & Gavaudan Investment Management LLP purchased a new position in Insulet during the fourth quarter worth about $2,036,000. New Age Alpha Advisors LLC acquired a new position in shares of Insulet in the 4th quarter worth approximately $7,857,000. Norges Bank purchased a new position in shares of Insulet during the 4th quarter worth approximately $248,806,000. UniSuper Management Pty Ltd increased its holdings in Insulet by 9.6% in the 4th quarter. UniSuper Management Pty Ltd now owns 8,717 shares of the medical instruments supplier’s stock valued at $2,276,000 after purchasing an additional 765 shares during the last quarter. Finally, Artisan Partners Limited Partnership raised its position in Insulet by 24.1% in the fourth quarter. Artisan Partners Limited Partnership now owns 770,188 shares of the medical instruments supplier’s stock valued at $201,073,000 after purchasing an additional 149,524 shares during the period.

Insulet Trading Down 0.6 %

NASDAQ PODD opened at $258.75 on Friday. The firm’s fifty day moving average price is $271.69 and its 200 day moving average price is $258.53. Insulet Co. has a 12 month low of $160.19 and a 12 month high of $289.46. The company has a debt-to-equity ratio of 1.21, a current ratio of 3.68 and a quick ratio of 2.80. The company has a market capitalization of $18.17 billion, a price-to-earnings ratio of 44.69, a price-to-earnings-growth ratio of 3.62 and a beta of 1.29.

Insulet (NASDAQ:PODD) last posted its earnings results on Thursday, February 20th. The medical instruments supplier reported $1.15 EPS for the quarter, topping analysts’ consensus estimates of $1.00 by $0.15. The business had revenue of $597.50 million for the quarter, compared to analysts’ expectations of $582.02 million. Insulet had a return on equity of 24.46% and a net margin of 20.19%. On average, sell-side analysts expect that Insulet Co. will post 3.92 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the company. Wells Fargo & Company lifted their price objective on Insulet from $305.00 to $322.00 and gave the company an “overweight” rating in a research note on Friday, February 21st. Piper Sandler boosted their price target on shares of Insulet from $285.00 to $310.00 and gave the stock an “overweight” rating in a research note on Friday, February 21st. Stifel Nicolaus raised their price objective on shares of Insulet from $245.00 to $293.00 and gave the company a “hold” rating in a research note on Friday, February 21st. Raymond James restated an “outperform” rating and issued a $328.00 price objective (up previously from $294.00) on shares of Insulet in a report on Friday, February 21st. Finally, TD Cowen increased their target price on shares of Insulet from $264.00 to $324.00 and gave the stock a “buy” rating in a report on Friday, January 3rd. Four research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to MarketBeat, Insulet has a consensus rating of “Moderate Buy” and a consensus target price of $292.06.

Insider Buying and Selling at Insulet

In other news, EVP Eric Benjamin sold 12,394 shares of the business’s stock in a transaction that occurred on Tuesday, January 21st. The stock was sold at an average price of $280.00, for a total value of $3,470,320.00. Following the transaction, the executive vice president now owns 11,383 shares of the company’s stock, valued at approximately $3,187,240. The trade was a 52.13 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Wayne A.I. Frederick sold 1,825 shares of the company’s stock in a transaction that occurred on Tuesday, March 25th. The stock was sold at an average price of $275.00, for a total value of $501,875.00. Following the sale, the director now owns 3,231 shares of the company’s stock, valued at $888,525. This trade represents a 36.10 % decrease in their position. The disclosure for this sale can be found here. 0.47% of the stock is 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.