New York State Common Retirement Fund Cuts Stock Position in Insulet Co. (NASDAQ:PODD)

New York State Common Retirement Fund cut its stake in shares of Insulet Co. (NASDAQ:PODD) by 98.9% in the fourth quarter, HoldingsChannel.com reports. The fund owned 48,637 shares of the medical instruments supplier’s stock after selling 4,474,975 shares during the period. New York State Common Retirement Fund’s holdings in Insulet were worth $12,698,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Baillie Gifford & Co. raised its position in shares of Insulet by 3.5% during the 4th quarter. Baillie Gifford & Co. now owns 2,355,683 shares of the medical instruments supplier’s stock worth $614,998,000 after purchasing an additional 79,982 shares during the last quarter. Geode Capital Management LLC increased its stake in Insulet by 1.3% during the 3rd quarter. Geode Capital Management LLC now owns 1,738,601 shares of the medical instruments supplier’s stock worth $403,339,000 after buying an additional 22,850 shares in the last quarter. Westfield Capital Management Co. LP raised its holdings in shares of Insulet by 27.6% during the third quarter. Westfield Capital Management Co. LP now owns 754,872 shares of the medical instruments supplier’s stock valued at $175,697,000 after acquiring an additional 163,388 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of Insulet by 43.8% in the third quarter. Charles Schwab Investment Management Inc. now owns 636,265 shares of the medical instruments supplier’s stock valued at $148,091,000 after acquiring an additional 193,839 shares in the last quarter. Finally, Fisher Asset Management LLC boosted its stake in shares of Insulet by 0.9% in the third quarter. Fisher Asset Management LLC now owns 351,100 shares of the medical instruments supplier’s stock worth $81,719,000 after acquiring an additional 3,113 shares during the last quarter.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on PODD shares. StockNews.com upgraded shares of Insulet from a “hold” rating to a “buy” rating in a research report on Monday. BTIG Research upped their target price on Insulet from $260.00 to $270.00 and gave the company a “buy” rating in a report on Friday, November 8th. Raymond James reiterated an “outperform” rating and set a $328.00 price target (up previously from $294.00) on shares of Insulet in a report on Friday. TD Cowen upped their price objective on shares of Insulet from $264.00 to $324.00 and gave the company a “buy” rating in a report on Friday, January 3rd. Finally, Barclays lifted their target price on shares of Insulet from $220.00 to $234.00 and gave the stock an “equal weight” rating in a research note on Monday, November 11th. Three analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $289.06.

Insider Buying and Selling at Insulet

In other news, EVP Eric Benjamin sold 12,394 shares of the stock in a transaction dated Tuesday, January 21st. The stock was sold at an average price of $280.00, for a total value of $3,470,320.00. Following the transaction, the executive vice president now owns 11,383 shares in the company, valued at approximately $3,187,240. This represents a 52.13 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CAO Lauren Budden sold 915 shares of the firm’s stock in a transaction dated Tuesday, December 10th. The stock was sold at an average price of $275.62, for a total value of $252,192.30. Following the sale, the chief accounting officer now directly owns 5,733 shares in the company, valued at $1,580,129.46. This trade represents a 13.76 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.47% of the company’s stock.

Insulet Trading Up 0.2 %

NASDAQ:PODD opened at $283.48 on Tuesday. Insulet Co. has a 12-month low of $160.19 and a 12-month high of $289.46. The firm has a market cap of $19.88 billion, a PE ratio of 48.96, a price-to-earnings-growth ratio of 3.62 and a beta of 1.23. The company has a current ratio of 3.68, a quick ratio of 2.80 and a debt-to-equity ratio of 1.21. The stock has a fifty day moving average price of $273.33 and a 200 day moving average price of $248.46.

Insulet (NASDAQ:PODD) last announced its quarterly earnings data on Thursday, February 20th. The medical instruments supplier reported $1.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.00 by $0.15. Insulet had a return on equity of 24.46% and a net margin of 20.19%. The business had revenue of $597.50 million during the quarter, compared to analysts’ expectations of $582.02 million. Sell-side analysts anticipate that Insulet Co. will post 3.92 earnings per share for the current fiscal year.

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.