Insulet Co. (NASDAQ:PODD) Shares Purchased by Arizona State Retirement System

Arizona State Retirement System raised its holdings in shares of Insulet Co. (NASDAQ:PODD) by 1.4% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 20,343 shares of the medical instruments supplier’s stock after purchasing an additional 276 shares during the quarter. Arizona State Retirement System’s holdings in Insulet were worth $5,311,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of the stock. Proficio Capital Partners LLC bought a new stake in Insulet in the fourth quarter valued at $28,422,000. Atria Investments Inc lifted its stake in Insulet by 9.1% in the fourth quarter. Atria Investments Inc now owns 6,035 shares of the medical instruments supplier’s stock valued at $1,576,000 after buying an additional 502 shares during the last quarter. Assetmark Inc. lifted its stake in Insulet by 1,447.1% in the fourth quarter. Assetmark Inc. now owns 263 shares of the medical instruments supplier’s stock valued at $69,000 after buying an additional 246 shares during the last quarter. Keybank National Association OH acquired a new position in shares of Insulet during the fourth quarter valued at $219,000. Finally, Charles Schwab Investment Management Inc. increased its holdings in shares of Insulet by 1.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 646,959 shares of the medical instruments supplier’s stock valued at $168,902,000 after purchasing an additional 10,694 shares during the period.

Insulet Trading Down 3.0 %

PODD opened at $251.81 on Friday. The firm has a 50-day moving average price of $274.09 and a two-hundred day moving average price of $252.86. The company has a current ratio of 3.68, a quick ratio of 2.80 and a debt-to-equity ratio of 1.21. Insulet Co. has a 1-year low of $160.19 and a 1-year high of $289.46. The stock has a market capitalization of $17.68 billion, a PE ratio of 43.49, a PEG ratio of 3.62 and a beta of 1.29.

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

Insider Transactions at Insulet

In related news, EVP Eric Benjamin sold 12,394 shares of the firm’s stock in a transaction dated Tuesday, January 21st. The shares were sold at an average price of $280.00, for a total transaction of $3,470,320.00. Following the transaction, the executive vice president now directly owns 11,383 shares of the company’s stock, valued at approximately $3,187,240. This trade represents a 52.13 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Lauren Budden sold 915 shares of the stock in a transaction that occurred on 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 represents a 13.76 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.47% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the company. StockNews.com lowered Insulet from a “buy” rating to a “hold” rating in a research report on Tuesday, March 4th. Wells Fargo & Company increased their price target on shares of Insulet from $305.00 to $322.00 and gave the stock an “overweight” rating in a research note on Friday, February 21st. Citigroup raised their target price on shares of Insulet from $310.00 to $355.00 and gave the company a “buy” rating in a research note on Friday, February 21st. Raymond James reiterated an “outperform” rating and issued a $328.00 target price (up from $294.00) on shares of Insulet in a research note on Friday, February 21st. Finally, TD Cowen raised their target price on shares of Insulet from $264.00 to $324.00 and gave the company a “buy” rating in a research note on Friday, January 3rd. Four investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $292.06.

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.