Strs Ohio Boosts Stake in Insulet Corporation $PODD

Key Points

• Strs Ohio increased its stake in Insulet by 36.0% in Q4, owning 22,680 shares after adding 6,003 shares, with holdings valued at $6.447 million at quarter-end.
• Director Michael R. Minogue purchased 2,030 shares on Feb. 25 at $246.23 each (about $499,847), boosting his ownership by 13.14% to 17,483 shares.
• Several analysts cut price targets, but the consensus remains a Moderate Buy with a $327.24 target, while the stock recently opened at $171.39 and is trading near its 52‑week low.

Strs Ohio grew its stake in Insulet Corporation (NASDAQ:PODD - Free Report) by 36.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 22,680 shares of the medical instruments supplier's stock after buying an additional 6,003 shares during the period. Strs Ohio's holdings in Insulet were worth $6,447,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Worldquant Millennium Advisors LLC purchased a new position in shares of Insulet during the second quarter worth $80,082,000. Squarepoint Ops LLC increased its holdings in Insulet by 11,905.8% in the third quarter. Squarepoint Ops LLC now owns 227,270 shares of the medical instruments supplier's stock valued at $70,165,000 after buying an additional 225,377 shares in the last quarter. Qube Research & Technologies Ltd increased its holdings in Insulet by 37.3% in the third quarter. Qube Research & Technologies Ltd now owns 574,365 shares of the medical instruments supplier's stock valued at $177,324,000 after buying an additional 156,009 shares in the last quarter. Parnassus Investments LLC purchased a new position in Insulet in the third quarter valued at $46,525,000. Finally, Nordea Investment Management AB increased its holdings in Insulet by 35.0% in the fourth quarter. Nordea Investment Management AB now owns 551,133 shares of the medical instruments supplier's stock valued at $157,128,000 after buying an additional 142,922 shares in the last quarter.

Insider Activity

In related news, Director Michael R. Minogue bought 2,030 shares of the company's stock in a transaction dated Wednesday, February 25th. The shares were acquired at an average price of $246.23 per share, for a total transaction of $499,846.90. Following the completion of the transaction, the director directly owned 17,483 shares in the company, valued at $4,304,839.09. This trade represents a 13.14% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.36% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of research analysts have weighed in on PODD shares. Evercore cut their price objective on shares of Insulet from $340.00 to $240.00 and set an "outperform" rating for the company in a report on Monday, April 6th. Citigroup cut shares of Insulet from a "buy" rating to a "neutral" rating and cut their price objective for the company from $338.00 to $230.00 in a report on Tuesday, April 7th. Sanford C. Bernstein cut their price objective on shares of Insulet from $380.00 to $330.00 and set an "outperform" rating for the company in a report on Thursday, February 19th. Stifel Nicolaus cut their price objective on shares of Insulet from $370.00 to $350.00 and set a "buy" rating for the company in a report on Wednesday, February 4th. Finally, BTIG Research cut their price objective on shares of Insulet from $380.00 to $320.00 and set a "buy" rating for the company in a report on Monday, April 13th. Eighteen equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $327.24.

Insulet Stock Down 2.1%

Shares of NASDAQ PODD opened at $171.39 on Tuesday. The company's 50-day simple moving average is $216.37 and its 200-day simple moving average is $267.14. Insulet Corporation has a 52-week low of $158.35 and a 52-week high of $354.88. The firm has a market cap of $11.87 billion, a price-to-earnings ratio of 48.97, a price-to-earnings-growth ratio of 1.03 and a beta of 1.20. The company has a quick ratio of 2.15, a current ratio of 2.81 and a debt-to-equity ratio of 0.61.

Insulet (NASDAQ:PODD - Get Free Report) last announced its earnings results on Wednesday, February 18th. The medical instruments supplier reported $1.55 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.48 by $0.07. Insulet had a net margin of 9.12% and a return on equity of 24.90%. The business had revenue of $783.80 million for the quarter, compared to analyst estimates of $768.31 million. During the same quarter last year, the business earned $1.15 earnings per share. The company's revenue for the quarter was up 31.2% compared to the same quarter last year. Equities analysts predict that Insulet Corporation will post 6.27 EPS for the current fiscal year.

About Insulet

Insulet Corporation is a medical device company headquartered in Acton, Massachusetts, that develops, manufactures and sells insulin-delivery systems for people with diabetes. The company's core business is the design and commercialization of its Omnipod family of tubeless, wearable insulin pumps and the consumable Pods that deliver insulin. Insulet's products aim to simplify insulin delivery for people with type 1 diabetes and insulin-requiring type 2 diabetes by offering an alternative to traditional insulin pens and tethered pump systems.

The company's product portfolio includes the Omnipod System line—disposable, waterproof Pods that adhere to the skin and deliver insulin—and the associated controllers and mobile applications used to program and monitor insulin delivery.

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