Retirement Systems of Alabama Has $3.96 Million Position in Insulet Corporation (NASDAQ:PODD)

Retirement Systems of Alabama lessened its holdings in Insulet Corporation (NASDAQ:PODD) by 0.8% during the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 15,073 shares of the medical instruments supplier’s stock after selling 114 shares during the quarter. Retirement Systems of Alabama’s holdings in Insulet were worth $3,958,000 as of its most recent SEC filing.

A number of other large investors have also recently modified their holdings of the business. Geode Capital Management LLC boosted its holdings in shares of Insulet by 2.3% in the 4th quarter. Geode Capital Management LLC now owns 1,779,167 shares of the medical instruments supplier’s stock valued at $463,347,000 after purchasing an additional 40,566 shares in the last quarter. Norges Bank acquired a new stake in shares of Insulet in the 4th quarter valued at $248,806,000. Artisan Partners Limited Partnership boosted its holdings in shares of Insulet by 24.1% in the 4th quarter. Artisan Partners Limited Partnership now owns 770,188 shares of the medical instruments supplier’s stock valued at $201,073,000 after purchasing an additional 149,524 shares in the last quarter. Northern Trust Corp boosted its holdings in shares of Insulet by 20.5% in the 4th quarter. Northern Trust Corp now owns 738,811 shares of the medical instruments supplier’s stock valued at $192,881,000 after purchasing an additional 125,710 shares in the last quarter. Finally, GAMMA Investing LLC boosted its holdings in shares of Insulet by 27,298.6% in the 1st quarter. GAMMA Investing LLC now owns 664,141 shares of the medical instruments supplier’s stock valued at $1,744,100,000 after purchasing an additional 661,717 shares in the last quarter.

Insider Transactions at Insulet

In other news, SVP John W. Kapples sold 5,278 shares of Insulet stock in a transaction dated Wednesday, May 14th. The stock was sold at an average price of $318.47, for a total value of $1,680,884.66. Following the completion of the transaction, the senior vice president now directly owns 23,180 shares of the company’s stock, valued at approximately $7,382,134.60. This trade represents a 18.55% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 0.39% of the company’s stock.

Insulet Stock Down 1.5%

Shares of NASDAQ:PODD opened at $306.23 on Thursday. The firm has a market cap of $21.55 billion, a P/E ratio of 55.08, a P/E/G ratio of 2.77 and a beta of 1.37. The company has a quick ratio of 3.63, a current ratio of 4.47 and a debt-to-equity ratio of 1.21. Insulet Corporation has a 12-month low of $173.00 and a 12-month high of $329.33. The business has a fifty day simple moving average of $295.11 and a 200 day simple moving average of $277.04.

Insulet (NASDAQ:PODD) last announced its earnings results on Thursday, May 8th. The medical instruments supplier reported $1.02 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.81 by $0.21. The business had revenue of $569.00 million during the quarter, compared to analyst estimates of $543.20 million. Insulet had a return on equity of 22.25% and a net margin of 18.29%. Insulet’s revenue for the quarter was up 28.8% compared to the same quarter last year. During the same period last year, the company earned $0.73 EPS. Analysts predict that Insulet Corporation will post 3.92 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on PODD shares. Wells Fargo & Company set a $322.00 target price on Insulet in a report on Monday, April 28th. Citigroup reissued a “buy” rating and set a $380.00 price objective (up previously from $320.00) on shares of Insulet in a report on Thursday, May 22nd. The Goldman Sachs Group initiated coverage on Insulet in a report on Friday, May 30th. They set a “buy” rating and a $380.00 price objective on the stock. Royal Bank Of Canada initiated coverage on Insulet in a report on Thursday, March 6th. They set an “outperform” rating and a $340.00 price objective on the stock. Finally, Sanford C. Bernstein reissued an “outperform” rating on shares of Insulet in a report on Friday, May 16th. Four research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $321.00.

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.