Retirement Systems of Alabama Sells 397 Shares of Insulet Co. (NASDAQ:PODD)

Retirement Systems of Alabama trimmed its holdings in shares of Insulet Co. (NASDAQ:PODD) by 2.5% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 15,389 shares of the medical instruments supplier’s stock after selling 397 shares during the period. Retirement Systems of Alabama’s holdings in Insulet were worth $3,339,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Parkside Financial Bank & Trust lifted its position in shares of Insulet by 251.0% in the 3rd quarter. Parkside Financial Bank & Trust now owns 172 shares of the medical instruments supplier’s stock worth $27,000 after purchasing an additional 123 shares during the period. Allworth Financial LP lifted its holdings in Insulet by 104.5% during the third quarter. Allworth Financial LP now owns 180 shares of the medical instruments supplier’s stock worth $29,000 after buying an additional 92 shares during the period. Wolff Wiese Magana LLC boosted its position in Insulet by 2,680.0% during the 4th quarter. Wolff Wiese Magana LLC now owns 139 shares of the medical instruments supplier’s stock valued at $30,000 after acquiring an additional 134 shares in the last quarter. BluePath Capital Management LLC purchased a new position in shares of Insulet in the 3rd quarter valued at $31,000. Finally, Lindbrook Capital LLC raised its position in shares of Insulet by 64.1% in the 4th quarter. Lindbrook Capital LLC now owns 192 shares of the medical instruments supplier’s stock worth $42,000 after acquiring an additional 75 shares in the last quarter.

Insulet Price Performance

Shares of NASDAQ:PODD opened at $184.28 on Wednesday. Insulet Co. has a twelve month low of $125.82 and a twelve month high of $331.65. The company has a current ratio of 3.51, a quick ratio of 2.62 and a debt-to-equity ratio of 1.86. The company has a market cap of $12.90 billion, a PE ratio of 63.33, a price-to-earnings-growth ratio of 3.14 and a beta of 1.00. The company’s 50 day moving average is $170.08 and its 200 day moving average is $181.70.

Insulet (NASDAQ:PODD) last released its quarterly earnings data on Thursday, February 22nd. The medical instruments supplier reported $1.40 EPS for the quarter, beating the consensus estimate of $0.67 by $0.73. Insulet had a net margin of 12.16% and a return on equity of 32.19%. The business had revenue of $509.80 million for the quarter, compared to the consensus estimate of $461.26 million. During the same period in the prior year, the firm earned $0.55 EPS. The business’s revenue for the quarter was up 37.9% on a year-over-year basis. On average, sell-side analysts forecast that Insulet Co. will post 3.08 EPS for the current year.

Insider Activity at Insulet

In other news, Director Shacey Petrovic sold 11,609 shares of Insulet stock in a transaction that occurred on Wednesday, February 28th. The shares were sold at an average price of $162.92, for a total transaction of $1,891,338.28. Following the completion of the transaction, the director now directly owns 2,567 shares of the company’s stock, valued at approximately $418,215.64. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.47% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of brokerages recently weighed in on PODD. Barclays dropped their price objective on Insulet from $214.00 to $213.00 and set an “equal weight” rating on the stock in a research report on Monday, February 26th. Wolfe Research upgraded shares of Insulet from a “peer perform” rating to an “outperform” rating and set a $200.00 price target on the stock in a report on Tuesday. Piper Sandler reduced their price objective on shares of Insulet from $250.00 to $230.00 and set an “overweight” rating for the company in a research note on Friday, February 23rd. JPMorgan Chase & Co. raised their target price on shares of Insulet from $190.00 to $225.00 and gave the company an “overweight” rating in a research note on Friday, February 23rd. Finally, Stifel Nicolaus upped their price target on Insulet from $163.00 to $208.00 and gave the stock a “hold” rating in a research report on Monday, February 5th. Four equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $240.33.

About Insulet

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.