Retirement Systems of Alabama Has $3.34 Million Position in Insulet Co. (NASDAQ:PODD)

Retirement Systems of Alabama lessened its stake in shares of Insulet Co. (NASDAQ:PODD) by 2.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund 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 SEC filing.

Other institutional investors also recently modified their holdings of the company. Baillie Gifford & Co. acquired a new position in Insulet in the 4th quarter valued at $263,144,000. William Blair Investment Management LLC boosted its holdings in Insulet by 145.1% during the third quarter. William Blair Investment Management LLC now owns 732,923 shares of the medical instruments supplier’s stock valued at $116,894,000 after acquiring an additional 433,884 shares during the period. Qube Research & Technologies Ltd grew its position in shares of Insulet by 227.3% in the third quarter. Qube Research & Technologies Ltd now owns 386,687 shares of the medical instruments supplier’s stock valued at $61,673,000 after purchasing an additional 268,553 shares during the last quarter. Westfield Capital Management Co. LP increased its stake in shares of Insulet by 62.4% in the third quarter. Westfield Capital Management Co. LP now owns 637,261 shares of the medical instruments supplier’s stock worth $101,637,000 after purchasing an additional 244,922 shares during the period. Finally, Artisan Partners Limited Partnership acquired a new position in shares of Insulet during the 3rd quarter worth about $29,455,000.

Insider Buying and Selling at Insulet

In other news, Director Shacey Petrovic sold 11,609 shares of the company’s stock in a transaction on Wednesday, February 28th. The stock was sold at an average price of $162.92, for a total transaction of $1,891,338.28. Following the transaction, the director now owns 2,567 shares of the company’s stock, valued at $418,215.64. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.47% of the company’s stock.

Analysts Set New Price Targets

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

Insulet Stock Up 4.5 %

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

Insulet (NASDAQ:PODD) last posted its quarterly earnings data on Thursday, February 22nd. The medical instruments supplier reported $1.40 EPS for the quarter, topping analysts’ consensus estimates of $0.67 by $0.73. Insulet had a return on equity of 32.19% and a net margin of 12.16%. The company had revenue of $509.80 million for the quarter, compared to analyst estimates of $461.26 million. During the same quarter in the previous year, the firm earned $0.55 earnings per share. The business’s revenue was up 37.9% on a year-over-year basis. Equities research analysts anticipate that Insulet Co. will post 3.08 EPS for the current fiscal year.

Insulet 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.