California State Teachers Retirement System Trims Holdings in Insulet Co. (NASDAQ:PODD)

California State Teachers Retirement System trimmed its stake in shares of Insulet Co. (NASDAQ:PODD - Free Report) by 6.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 99,976 shares of the medical instruments supplier's stock after selling 7,134 shares during the period. California State Teachers Retirement System owned about 0.14% of Insulet worth $26,101,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in PODD. Wealth Enhancement Advisory Services LLC grew its position in Insulet by 16.9% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 2,658 shares of the medical instruments supplier's stock valued at $694,000 after purchasing an additional 384 shares in the last quarter. Siemens Fonds Invest GmbH bought a new position in Insulet in the fourth quarter valued at $201,000. Universal Beteiligungs und Servicegesellschaft mbH bought a new position in Insulet in the fourth quarter valued at $29,993,000. Azzad Asset Management Inc. ADV grew its position in shares of Insulet by 13.2% in the 4th quarter. Azzad Asset Management Inc. ADV now owns 10,161 shares of the medical instruments supplier's stock valued at $2,653,000 after acquiring an additional 1,181 shares during the period. Finally, ABLE Financial Group LLC grew its position in shares of Insulet by 13.6% in the 4th quarter. ABLE Financial Group LLC now owns 4,647 shares of the medical instruments supplier's stock valued at $1,213,000 after acquiring an additional 557 shares during the period.

Insiders Place Their Bets

In related news, Director Wayne A.I. Frederick sold 1,825 shares of Insulet stock in a transaction on Tuesday, March 25th. The shares were sold at an average price of $275.00, for a total value of $501,875.00. Following the sale, the director now owns 3,231 shares in the company, valued at $888,525. The trade was a 36.10% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP John W. Kapples sold 5,278 shares of the business's stock in a transaction on Wednesday, May 14th. The shares were sold at an average price of $318.47, for a total transaction of $1,680,884.66. Following the sale, the senior vice president now owns 23,180 shares in the company, valued at approximately $7,382,134.60. This trade represents a 18.55% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.39% of the company's stock.

Analyst Ratings Changes

A number of analysts have recently issued reports on the stock. Oppenheimer raised their target price on shares of Insulet from $312.00 to $324.00 and gave the stock an "outperform" rating in a research note on Friday, May 9th. Citigroup reiterated a "buy" rating and issued a $380.00 price objective (up previously from $320.00) on shares of Insulet in a research note on Thursday, May 22nd. Sanford C. Bernstein restated an "outperform" rating on shares of Insulet in a research report on Friday, May 16th. Barclays boosted their target price on shares of Insulet from $234.00 to $266.00 and gave the company an "equal weight" rating in a research report on Wednesday, April 30th. Finally, Wells Fargo & Company set a $322.00 target price on shares of Insulet in a report on Monday, April 28th. Three research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $318.41.

Insulet Price Performance

Shares of PODD stock traded down $3.64 during trading hours on Tuesday, reaching $321.36. The stock had a trading volume of 260,356 shares, compared to its average volume of 786,125. The stock's fifty day simple moving average is $277.81 and its 200 day simple moving average is $272.24. The firm has a market capitalization of $22.62 billion, a PE ratio of 55.50, a PEG ratio of 3.62 and a beta of 1.26. 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 12 month low of $173.00 and a 12 month high of $329.33.

Insulet (NASDAQ:PODD - Get Free Report) last announced its earnings results on Thursday, May 8th. The medical instruments supplier reported $1.02 earnings per share for the quarter, beating analysts' consensus estimates of $0.81 by $0.21. The business had revenue of $569.00 million for the quarter, compared to the consensus estimate of $543.20 million. Insulet had a net margin of 20.19% and a return on equity of 24.46%. Insulet's quarterly revenue was up 28.8% on a year-over-year basis. During the same period last year, the firm posted $0.73 earnings per share. On average, equities research analysts predict that Insulet Co. will post 3.92 EPS for the current 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.