Kentucky Retirement Systems Insurance Trust Fund Takes Position in Insulet Corporation (NASDAQ:PODD)

Kentucky Retirement Systems Insurance Trust Fund purchased a new position in shares of Insulet Corporation (NASDAQ:PODD - Free Report) during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 2,031 shares of the medical instruments supplier's stock, valued at approximately $533,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of PODD. Norges Bank acquired a new position in Insulet during the fourth quarter worth about $248,806,000. GAMMA Investing LLC boosted its holdings in 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 during the last quarter. Raymond James Financial Inc. acquired a new position in Insulet in the 4th quarter valued at about $69,433,000. Alecta Tjanstepension Omsesidigt acquired a new position in Insulet in the 4th quarter valued at about $53,184,000. Finally, Artisan Partners Limited Partnership boosted its holdings in 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 during the last quarter.

Insider Buying and Selling

In other Insulet news, SVP John W. Kapples sold 5,278 shares of the stock in a transaction that occurred on Wednesday, May 14th. The shares were sold at an average price of $318.47, for a total value of $1,680,884.66. Following the sale, the senior vice president now directly owns 23,180 shares of the company's stock, valued at approximately $7,382,134.60. This represents a 18.55% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. 0.39% of the stock is owned by insiders.

Insulet Stock Up 1.2%

PODD traded up $3.60 during trading hours on Thursday, hitting $309.83. 628,056 shares of the company's stock were exchanged, compared to its average volume of 714,532. Insulet Corporation has a 12-month low of $173.00 and a 12-month high of $329.33. The firm has a 50 day moving average of $295.11 and a 200 day moving average of $277.04. The firm has a market cap of $21.81 billion, a P/E ratio of 55.72, a price-to-earnings-growth ratio of 2.77 and a beta of 1.37. The company has a current ratio of 4.47, a quick ratio of 3.63 and a debt-to-equity ratio of 1.21.

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, topping the consensus estimate of $0.81 by $0.21. Insulet had a net margin of 18.29% and a return on equity of 22.25%. The firm had revenue of $569.00 million for the quarter, compared to the consensus estimate of $543.20 million. During the same period in the prior year, the firm earned $0.73 EPS. The firm's revenue for the quarter was up 28.8% on a year-over-year basis. Analysts predict that Insulet Corporation will post 3.92 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms have weighed in on PODD. Wall Street Zen lowered shares of Insulet from a "buy" rating to a "hold" rating in a report on Saturday, June 14th. Truist Financial began coverage on shares of Insulet in a report on Monday, June 16th. They issued a "buy" rating and a $365.00 target price on the stock. Oppenheimer boosted their target price on shares of Insulet from $312.00 to $324.00 and gave the company an "outperform" rating in a report on Friday, May 9th. Royal Bank Of Canada started coverage on shares of Insulet in a report on Thursday, March 6th. They issued an "outperform" rating and a $340.00 target price on the stock. Finally, Raymond James Financial reissued an "outperform" rating and issued a $360.00 price target (up from $328.00) on shares of Insulet in a research note on Tuesday, May 27th. Four research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company's stock. According to data from MarketBeat, the stock currently has an average 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.