California Public Employees Retirement System Decreases Stake in Insulet Co. (NASDAQ:PODD)

California Public Employees Retirement System reduced its stake in shares of Insulet Co. (NASDAQ:PODD) by 22.8% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 99,253 shares of the medical instruments supplier’s stock after selling 29,389 shares during the period. California Public Employees Retirement System’s holdings in Insulet were worth $21,536,000 at the end of the most recent reporting period.

Other institutional investors also recently made changes to their positions in the company. AE Wealth Management LLC boosted its position in shares of Insulet by 332.0% in the 3rd quarter. AE Wealth Management LLC now owns 3,784 shares of the medical instruments supplier’s stock worth $604,000 after buying an additional 2,908 shares in the last quarter. Czech National Bank boosted its position in shares of Insulet by 47.9% in the 3rd quarter. Czech National Bank now owns 12,203 shares of the medical instruments supplier’s stock worth $1,946,000 after buying an additional 3,953 shares in the last quarter. Asset Management One Co. Ltd. boosted its position in shares of Insulet by 2.4% in the 3rd quarter. Asset Management One Co. Ltd. now owns 27,437 shares of the medical instruments supplier’s stock worth $4,376,000 after buying an additional 647 shares in the last quarter. Cambridge Investment Research Advisors Inc. boosted its position in shares of Insulet by 18.2% in the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 3,024 shares of the medical instruments supplier’s stock worth $482,000 after buying an additional 466 shares in the last quarter. Finally, Xponance Inc. boosted its position in shares of Insulet by 6.0% in the 3rd quarter. Xponance Inc. now owns 16,812 shares of the medical instruments supplier’s stock worth $2,681,000 after buying an additional 949 shares in the last quarter.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the stock. Stifel Nicolaus boosted their price objective on shares of Insulet from $163.00 to $208.00 and gave the stock a “hold” rating in a research report on Monday, February 5th. Piper Sandler cut their target price 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. Barclays cut their target price on shares of Insulet from $214.00 to $213.00 and set an “equal weight” rating for the company in a research note on Monday, February 26th. Finally, JPMorgan Chase & Co. boosted 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. Four investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat.com, Insulet has a consensus rating of “Moderate Buy” and an average target price of $243.21.

Insider Buying and Selling

In related news, Director Shacey Petrovic sold 11,609 shares of the 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 sale, the director now owns 2,567 shares of the company’s stock, valued at approximately $418,215.64. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.47% of the company’s stock.

Insulet Trading Up 1.2 %

NASDAQ PODD opened at $166.19 on Monday. Insulet Co. has a 12 month low of $125.82 and a 12 month high of $335.91. The company has a 50-day moving average of $171.51 and a 200-day moving average of $179.95. The company has a debt-to-equity ratio of 1.86, a current ratio of 3.51 and a quick ratio of 2.62. The company has a market cap of $11.64 billion, a P/E ratio of 57.11, a P/E/G ratio of 2.99 and a beta of 0.98.

Insulet (NASDAQ:PODD) last posted its quarterly earnings data on Thursday, February 22nd. The medical instruments supplier reported $1.40 EPS for the quarter, beating analysts’ consensus estimates of $0.67 by $0.73. Insulet had a net margin of 12.16% and a return on equity of 32.19%. The company had revenue of $509.80 million during the quarter, compared to the consensus estimate of $461.26 million. During the same quarter in the prior year, the company posted $0.55 EPS. The company’s quarterly revenue was up 37.9% compared to the same quarter last year. As a group, equities analysts predict that Insulet Co. will post 3.08 earnings per share for the current year.

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.