New York State Teachers Retirement System Boosts Holdings in Insulet Co. (NASDAQ:PODD)

New York State Teachers Retirement System raised its stake in shares of Insulet Co. (NASDAQ:PODD) by 2.3% in the second quarter, HoldingsChannel.com reports. The institutional investor owned 63,478 shares of the medical instruments supplier’s stock after acquiring an additional 1,400 shares during the period. New York State Teachers Retirement System’s holdings in Insulet were worth $12,810,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also modified their holdings of PODD. Orion Portfolio Solutions LLC lifted its holdings in Insulet by 276.6% in the fourth quarter. Orion Portfolio Solutions LLC now owns 10,221 shares of the medical instruments supplier’s stock valued at $2,069,000 after acquiring an additional 7,507 shares during the period. Diversified Trust Co increased its holdings in shares of Insulet by 90.9% during the 2nd quarter. Diversified Trust Co now owns 9,130 shares of the medical instruments supplier’s stock valued at $1,842,000 after purchasing an additional 4,348 shares in the last quarter. SG Americas Securities LLC boosted its holdings in Insulet by 349.3% during the first quarter. SG Americas Securities LLC now owns 29,575 shares of the medical instruments supplier’s stock worth $5,069,000 after buying an additional 22,993 shares in the last quarter. Allianz Asset Management GmbH raised its holdings in Insulet by 85.1% in the 4th quarter. Allianz Asset Management GmbH now owns 108,109 shares of the medical instruments supplier’s stock worth $23,457,000 after purchasing an additional 49,715 shares during the period. Finally, Duality Advisers LP raised its position in Insulet by 89.4% during the first quarter. Duality Advisers LP now owns 19,131 shares of the medical instruments supplier’s stock worth $3,279,000 after acquiring an additional 9,029 shares during the period.

Insider Buying and Selling at Insulet

In other Insulet news, SVP Mark N. Field sold 2,131 shares of the business’s stock in a transaction that occurred on Monday, June 10th. The stock was sold at an average price of $190.43, for a total value of $405,806.33. Following the sale, the senior vice president now owns 14,375 shares of the company’s stock, valued at $2,737,431.25. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, Director Timothy J. Scannell sold 7,000 shares of the company’s stock in a transaction on Monday, June 10th. The stock was sold at an average price of $190.51, for a total transaction of $1,333,570.00. Following the sale, the director now owns 35,586 shares of the company’s stock, valued at $6,779,488.86. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Mark N. Field sold 2,131 shares of the company’s stock in a transaction dated Monday, June 10th. The stock was sold at an average price of $190.43, for a total value of $405,806.33. Following the sale, the senior vice president now owns 14,375 shares in the company, valued at approximately $2,737,431.25. The disclosure for this sale can be found here. Insiders sold a total of 13,931 shares of company stock worth $2,636,286 over the last three months. Insiders own 0.47% of the company’s stock.

Insulet Price Performance

PODD stock opened at $185.04 on Friday. Insulet Co. has a 52-week low of $125.82 and a 52-week high of $223.56. The company has a quick ratio of 2.71, a current ratio of 3.60 and a debt-to-equity ratio of 1.36. The stock has a market cap of $12.96 billion, a price-to-earnings ratio of 56.07, a price-to-earnings-growth ratio of 3.62 and a beta of 1.16. The business has a fifty day moving average of $195.77 and a two-hundred day moving average of $183.57.

Insulet (NASDAQ:PODD) last released its quarterly earnings results on Thursday, August 8th. The medical instruments supplier reported $0.55 earnings per share for the quarter, missing analysts’ consensus estimates of $0.56 by ($0.01). The business had revenue of $488.50 million for the quarter, compared to analysts’ expectations of $488.00 million. Insulet had a return on equity of 30.73% and a net margin of 21.11%. The business’s revenue for the quarter was up 23.2% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.38 earnings per share. As a group, research analysts anticipate that Insulet Co. will post 3.04 earnings per share for the current year.

Analysts Set New Price Targets

Several analysts have recently issued reports on PODD shares. Barclays lifted their target price on shares of Insulet from $200.00 to $220.00 and gave the company an “equal weight” rating in a research report on Monday, August 12th. Raymond James lowered their price objective on Insulet from $218.00 to $213.00 and set an “outperform” rating on the stock in a report on Friday, May 10th. UBS Group raised their target price on Insulet from $211.00 to $223.00 and gave the company a “neutral” rating in a research report on Friday, August 9th. Redburn Atlantic assumed coverage on Insulet in a research note on Thursday, May 30th. They issued a “buy” rating and a $235.00 price target on the stock. Finally, Wolfe Research raised Insulet from a “peer perform” rating to an “outperform” rating and set a $200.00 price objective for the company in a research note on Tuesday, May 7th. Four investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $229.93.

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.