Insulet Co. (NASDAQ:PODD) Stock Position Trimmed by California Public Employees Retirement System

California Public Employees Retirement System lessened its position in Insulet Co. (NASDAQ:PODD - Free Report) by 7.0% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 111,860 shares of the medical instruments supplier's stock after selling 8,429 shares during the period. California Public Employees Retirement System owned approximately 0.16% of Insulet worth $29,203,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the company. Intech Investment Management LLC acquired a new position in shares of Insulet during the 3rd quarter valued at about $224,000. Glenmede Trust Co. NA increased its position in Insulet by 2.3% during the third quarter. Glenmede Trust Co. NA now owns 2,080 shares of the medical instruments supplier's stock worth $484,000 after purchasing an additional 47 shares during the last quarter. Public Sector Pension Investment Board raised its stake in Insulet by 14.8% during the third quarter. Public Sector Pension Investment Board now owns 3,099 shares of the medical instruments supplier's stock worth $721,000 after purchasing an additional 400 shares during the period. Captrust Financial Advisors boosted its holdings in shares of Insulet by 5.1% in the 3rd quarter. Captrust Financial Advisors now owns 1,760 shares of the medical instruments supplier's stock valued at $410,000 after purchasing an additional 86 shares during the last quarter. Finally, Holocene Advisors LP grew its stake in shares of Insulet by 1.0% during the 3rd quarter. Holocene Advisors LP now owns 14,986 shares of the medical instruments supplier's stock valued at $3,488,000 after buying an additional 154 shares during the period.

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Wall Street Analyst Weigh In

A number of brokerages recently weighed in on PODD. Piper Sandler lifted their target price on Insulet from $285.00 to $310.00 and gave the company an "overweight" rating in a report on Friday, February 21st. Canaccord Genuity Group lifted their price objective on Insulet from $304.00 to $324.00 and gave the company a "buy" rating in a research note on Friday, February 21st. Stifel Nicolaus increased their target price on shares of Insulet from $245.00 to $293.00 and gave the stock a "hold" rating in a research report on Friday, February 21st. StockNews.com lowered shares of Insulet from a "buy" rating to a "hold" rating in a report on Tuesday, March 4th. Finally, JPMorgan Chase & Co. upped their price target on shares of Insulet from $280.00 to $330.00 and gave the stock an "overweight" rating in a research report on Thursday, December 12th. Four research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat, Insulet presently has an average rating of "Moderate Buy" and a consensus price target of $292.06.

Insulet Stock Down 0.5 %

Shares of PODD traded down $1.22 during midday trading on Tuesday, hitting $255.02. The company had a trading volume of 214,142 shares, compared to its average volume of 714,252. The stock has a market cap of $17.91 billion, a price-to-earnings ratio of 43.91, a PEG ratio of 3.62 and a beta of 1.30. The company's 50 day moving average price is $269.47 and its 200 day moving average price is $259.99. The company has a quick ratio of 2.80, a current ratio of 3.68 and a debt-to-equity ratio of 1.21. Insulet Co. has a 52 week low of $160.19 and a 52 week high of $289.46.

Insulet (NASDAQ:PODD - Get Free Report) last announced its quarterly earnings data on Thursday, February 20th. The medical instruments supplier reported $1.15 earnings per share for the quarter, beating the consensus estimate of $1.00 by $0.15. Insulet had a return on equity of 24.46% and a net margin of 20.19%. The firm had revenue of $597.50 million during the quarter, compared to analyst estimates of $582.02 million. On average, equities research analysts predict that Insulet Co. will post 3.92 EPS for the current year.

Insider Buying and Selling

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

Insulet Company 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.