Teacher Retirement System of Texas Has $23.25 Million Stock Position in Insulet Corporation (NASDAQ:PODD)

Teacher Retirement System of Texas boosted its stake in shares of Insulet Corporation (NASDAQ:PODD - Free Report) by 383.1% during the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 88,548 shares of the medical instruments supplier's stock after purchasing an additional 70,220 shares during the period. Teacher Retirement System of Texas owned about 0.13% of Insulet worth $23,254,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the stock. Norges Bank purchased a new position in Insulet in the fourth quarter valued at about $248,806,000. GAMMA Investing LLC raised its position in Insulet by 27,298.6% during the first quarter. GAMMA Investing LLC now owns 664,141 shares of the medical instruments supplier's stock valued at $1,744,100,000 after acquiring an additional 661,717 shares in the last quarter. Raymond James Financial Inc. bought a new position in Insulet during the fourth quarter valued at approximately $69,433,000. Artisan Partners Limited Partnership lifted its stake in Insulet by 24.1% in the fourth quarter. Artisan Partners Limited Partnership now owns 770,188 shares of the medical instruments supplier's stock valued at $201,073,000 after acquiring an additional 149,524 shares during the last quarter. Finally, Northern Trust Corp grew its position in Insulet by 20.5% in the fourth quarter. Northern Trust Corp now owns 738,811 shares of the medical instruments supplier's stock worth $192,881,000 after acquiring an additional 125,710 shares in the last quarter.

Insider Buying and Selling

In other Insulet news, SVP John W. Kapples sold 5,278 shares of the business's stock in a transaction on 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 transaction, the senior vice president owned 23,180 shares of the company's stock, valued at approximately $7,382,134.60. The trade was a 18.55% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.39% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several research firms recently issued reports on PODD. The Goldman Sachs Group initiated coverage on shares of Insulet in a report on Friday, May 30th. They set a "buy" rating and a $380.00 price objective for the company. Citigroup reaffirmed a "buy" rating and issued a $380.00 price target (up from $320.00) on shares of Insulet in a research report on Thursday, May 22nd. Wells Fargo & Company set a $322.00 price objective on Insulet in a research report on Monday, April 28th. Sanford C. Bernstein reaffirmed an "outperform" rating on shares of Insulet in a research report on Friday, May 16th. Finally, Oppenheimer upped their target price on shares of Insulet from $312.00 to $324.00 and gave the company an "outperform" rating in a research note on Friday, May 9th. Four research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $321.00.

Insulet Price Performance

NASDAQ:PODD traded down $0.49 during trading hours on Friday, reaching $301.14. The company had a trading volume of 527,286 shares, compared to its average volume of 719,086. The company has a quick ratio of 3.63, a current ratio of 4.47 and a debt-to-equity ratio of 1.21. The stock has a 50-day moving average of $303.07 and a two-hundred day moving average of $278.82. Insulet Corporation has a one year low of $173.00 and a one year high of $329.33. The firm has a market capitalization of $21.19 billion, a PE ratio of 54.16, a PEG ratio of 2.69 and a beta of 1.35.

Insulet (NASDAQ:PODD - Get Free Report) last announced its quarterly earnings results on Thursday, May 8th. The medical instruments supplier reported $1.02 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.81 by $0.21. The firm had revenue of $569.00 million during the quarter, compared to the consensus estimate of $543.20 million. Insulet had a net margin of 18.29% and a return on equity of 22.25%. The firm's quarterly revenue was up 28.8% on a year-over-year basis. During the same period last year, the firm posted $0.73 EPS. Analysts forecast that Insulet Corporation will post 3.92 earnings per share for the current 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.