New York State Teachers Retirement System Trims Stock Position in Insulet Corporation (NASDAQ:PODD)

New York State Teachers Retirement System cut its stake in Insulet Corporation (NASDAQ:PODD - Free Report) by 2.7% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 62,234 shares of the medical instruments supplier's stock after selling 1,701 shares during the period. New York State Teachers Retirement System owned approximately 0.09% of Insulet worth $16,343,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Metis Global Partners LLC increased its position in Insulet by 2.8% during the fourth quarter. Metis Global Partners LLC now owns 3,036 shares of the medical instruments supplier's stock worth $793,000 after purchasing an additional 83 shares during the last quarter. Smartleaf Asset Management LLC grew its stake in shares of Insulet by 37.2% in the 4th quarter. Smartleaf Asset Management LLC now owns 398 shares of the medical instruments supplier's stock valued at $105,000 after buying an additional 108 shares during the period. SRS Capital Advisors Inc. increased its holdings in shares of Insulet by 43.1% during the 4th quarter. SRS Capital Advisors Inc. now owns 186 shares of the medical instruments supplier's stock worth $49,000 after buying an additional 56 shares during the last quarter. Jones Financial Companies Lllp raised its position in shares of Insulet by 3.9% during the 4th quarter. Jones Financial Companies Lllp now owns 1,527 shares of the medical instruments supplier's stock valued at $399,000 after buying an additional 58 shares during the period. Finally, SBI Securities Co. Ltd. purchased a new stake in shares of Insulet during the 4th quarter valued at approximately $36,000.

Insulet Stock Down 0.2%

PODD stock traded down $0.49 during mid-day trading 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 debt-to-equity ratio of 1.21, a quick ratio of 3.63 and a current ratio of 4.47. Insulet Corporation has a fifty-two week low of $173.00 and a fifty-two week high of $329.33. The company has a market capitalization of $21.19 billion, a price-to-earnings ratio of 54.16, a price-to-earnings-growth ratio of 2.69 and a beta of 1.35. The firm has a fifty day simple moving average of $303.07 and a 200 day simple moving average of $278.82.

Insulet (NASDAQ:PODD - Get Free Report) last issued its earnings results on Thursday, May 8th. The medical instruments supplier reported $1.02 EPS for the quarter, topping analysts' consensus estimates 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 during the quarter, compared to the consensus estimate of $543.20 million. During the same quarter in the previous year, the firm posted $0.73 earnings per share. The company's revenue was up 28.8% compared to the same quarter last year. Analysts forecast that Insulet Corporation will post 3.92 earnings per share for the current fiscal year.

Insider Activity at Insulet

In other news, SVP John W. Kapples sold 5,278 shares of the firm's stock in a transaction dated Wednesday, May 14th. The stock was sold at an average price of $318.47, for a total transaction of $1,680,884.66. Following the sale, the senior vice president owned 23,180 shares of the company's stock, valued at approximately $7,382,134.60. This trade represents a 18.55% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.39% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have issued reports on PODD shares. Wolfe Research raised Insulet from a "peer perform" rating to an "outperform" rating and set a $350.00 target price for the company in a research note on Tuesday, May 13th. Truist Financial started coverage on Insulet in a research report on Monday, June 16th. They set a "buy" rating and a $365.00 price objective for the company. The Goldman Sachs Group started coverage on shares of Insulet in a research report on Friday, May 30th. They issued a "buy" rating and a $380.00 target price on the stock. Oppenheimer increased 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. Finally, Royal Bank Of Canada began coverage on shares of Insulet in a research note on Thursday, March 6th. They issued an "outperform" rating and a $340.00 price target on the stock. Four analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. Based on 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.