Nordea Investment Management AB Raises Holdings in Insulet Corporation $PODD

Nordea Investment Management AB lifted its position in shares of Insulet Corporation (NASDAQ:PODD) by 35.0% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 551,133 shares of the medical instruments supplier’s stock after purchasing an additional 142,922 shares during the period. Nordea Investment Management AB’s holdings in Insulet were worth $157,128,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Norges Bank acquired a new stake in shares of Insulet in the 2nd quarter valued at about $324,689,000. Qube Research & Technologies Ltd acquired a new position in Insulet during the second quarter worth approximately $131,439,000. Worldquant Millennium Advisors LLC purchased a new stake in Insulet in the second quarter valued at approximately $80,082,000. Squarepoint Ops LLC boosted its holdings in shares of Insulet by 11,905.8% in the third quarter. Squarepoint Ops LLC now owns 227,270 shares of the medical instruments supplier’s stock valued at $70,165,000 after acquiring an additional 225,377 shares during the period. Finally, Munro Partners boosted its holdings in shares of Insulet by 1,483.0% in the third quarter. Munro Partners now owns 227,240 shares of the medical instruments supplier’s stock valued at $70,156,000 after acquiring an additional 212,885 shares during the period.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on PODD shares. Stifel Nicolaus lowered their target price on shares of Insulet from $370.00 to $350.00 and set a “buy” rating on the stock in a research report on Wednesday, February 4th. Truist Financial decreased their price target on shares of Insulet from $390.00 to $360.00 and set a “buy” rating for the company in a research note on Thursday, February 19th. Zacks Research downgraded shares of Insulet from a “strong-buy” rating to a “hold” rating in a research report on Monday, January 5th. Citigroup dropped their price objective on shares of Insulet from $345.00 to $338.00 and set a “buy” rating on the stock in a research note on Wednesday, March 11th. Finally, JPMorgan Chase & Co. reduced their target price on shares of Insulet from $415.00 to $340.00 and set an “overweight” rating for the company in a report on Thursday, February 19th. Twenty equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $354.24.

Insider Buying and Selling

In other news, Director Michael R. Minogue bought 2,030 shares of Insulet stock in a transaction dated Wednesday, February 25th. The stock was bought at an average price of $246.23 per share, for a total transaction of $499,846.90. Following the purchase, the director owned 17,483 shares of the company’s stock, valued at approximately $4,304,839.09. The trade was a 13.14% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 0.39% of the company’s stock.

Insulet Trading Down 0.7%

NASDAQ:PODD opened at $227.10 on Monday. Insulet Corporation has a 12-month low of $216.49 and a 12-month high of $354.88. The company has a current ratio of 2.81, a quick ratio of 2.15 and a debt-to-equity ratio of 0.61. The stock’s 50 day simple moving average is $252.11 and its 200-day simple moving average is $292.83. The firm has a market cap of $15.99 billion, a P/E ratio of 64.89, a PEG ratio of 1.36 and a beta of 1.42.

Insulet (NASDAQ:PODD) last issued its quarterly earnings results on Wednesday, February 18th. The medical instruments supplier reported $1.55 earnings per share for the quarter, topping the consensus estimate of $1.48 by $0.07. Insulet had a return on equity of 24.90% and a net margin of 9.12%.The firm had revenue of $783.80 million during the quarter, compared to the consensus estimate of $768.31 million. During the same period last year, the company earned $1.15 earnings per share. The company’s revenue for the quarter was up 31.2% on a year-over-year basis. Equities analysts anticipate that Insulet Corporation will post 3.92 EPS for the current year.

Insulet Profile

Insulet Corporation is a medical device company headquartered in Acton, Massachusetts, that develops, manufactures and sells insulin-delivery systems for people with diabetes. The company’s core business is the design and commercialization of its Omnipod family of tubeless, wearable insulin pumps and the consumable Pods that deliver insulin. Insulet’s products aim to simplify insulin delivery for people with type 1 diabetes and insulin-requiring type 2 diabetes by offering an alternative to traditional insulin pens and tethered pump systems.

The company’s product portfolio includes the Omnipod System line—disposable, waterproof Pods that adhere to the skin and deliver insulin—and the associated controllers and mobile applications used to program and monitor insulin delivery.