Teacher Retirement System of Texas Reduces Stock Position in Insulet Corporation $PODD

Key Points

• Teacher Retirement System of Texas cut its Insulet stake by 9% in Q4, selling 7,697 shares and ending the quarter with 77,373 shares worth about $21.99 million (≈0.11% of the company).
• Analysts hold a Moderate Buy consensus on Insulet with an average target price of $327.24 (18 Buys, 5 Holds, 1 Sell), though several firms recently trimmed their targets.
• Insulet beat the quarter's estimates (EPS $1.55 vs. $1.48; revenue $783.8M vs. $768.3M) with revenue up 31.2% year-over-year, yet the stock trades near $189.56—well below analyst targets and its 1-year high of $354.88.

Teacher Retirement System of Texas reduced its holdings in shares of Insulet Corporation (NASDAQ:PODD - Free Report) by 9.0% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 77,373 shares of the medical instruments supplier's stock after selling 7,697 shares during the quarter. Teacher Retirement System of Texas owned about 0.11% of Insulet worth $21,993,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the business. Vanguard Group Inc. lifted its stake in shares of Insulet by 1.0% during the 3rd quarter. Vanguard Group Inc. now owns 8,796,200 shares of the medical instruments supplier's stock valued at $2,715,651,000 after buying an additional 87,845 shares in the last quarter. Northern Trust Corp lifted its stake in shares of Insulet by 0.5% during the 3rd quarter. Northern Trust Corp now owns 709,180 shares of the medical instruments supplier's stock valued at $218,945,000 after buying an additional 3,618 shares in the last quarter. Qube Research & Technologies Ltd lifted its stake in shares of Insulet by 37.3% during the 3rd 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. Nordea Investment Management AB lifted its stake in shares of Insulet by 35.0% during the 4th 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. Finally, Ameriprise Financial Inc. lifted its stake in shares of Insulet by 0.8% during the 3rd quarter. Ameriprise Financial Inc. now owns 494,712 shares of the medical instruments supplier's stock valued at $152,703,000 after buying an additional 4,057 shares in the last quarter.

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. Barclays reaffirmed an "underweight" rating and set a $286.00 target price on shares of Insulet in a report on Thursday, February 19th. BTIG Research decreased their target price on shares of Insulet from $380.00 to $320.00 and set a "buy" rating on the stock in a report on Monday, April 13th. Canaccord Genuity Group decreased their target price on shares of Insulet from $450.00 to $435.00 and set a "buy" rating on the stock in a report on Wednesday, February 18th. TD Cowen lowered shares of Insulet from a "buy" rating to a "hold" rating and set a $294.00 target price on the stock. in a report on Monday, January 26th. Finally, Truist Financial decreased their target price on shares of Insulet from $360.00 to $315.00 and set a "buy" rating on the stock in a report on Wednesday, April 15th. Eighteen analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $327.24.

Insider Activity at Insulet

In related news, Director Michael R. Minogue purchased 2,030 shares of the firm's stock in a transaction dated Wednesday, February 25th. The shares were purchased at an average price of $246.23 per share, with a total value of $499,846.90. Following the acquisition, the director directly owned 17,483 shares of the company's stock, valued at approximately $4,304,839.09. This represents a 13.14% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.39% of the stock is owned by insiders.

Insulet Stock Performance

Insulet stock opened at $189.56 on Friday. The firm's 50 day simple moving average is $222.23 and its 200 day simple moving average is $271.72. The company has a current ratio of 2.81, a quick ratio of 2.15 and a debt-to-equity ratio of 0.61. The firm has a market capitalization of $13.13 billion, a PE ratio of 54.16, a price-to-earnings-growth ratio of 1.15 and a beta of 1.47. Insulet Corporation has a 1-year low of $186.25 and a 1-year high of $354.88.

Insulet (NASDAQ:PODD - Get Free Report) last posted its earnings results on Wednesday, February 18th. The medical instruments supplier reported $1.55 earnings per share for the quarter, topping analysts' consensus estimates of $1.48 by $0.07. The business had revenue of $783.80 million for the quarter, compared to analyst estimates of $768.31 million. Insulet had a net margin of 9.12% and a return on equity of 24.90%. Insulet's revenue was up 31.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.15 EPS. As a group, analysts expect that Insulet Corporation will post 6.16 earnings per share for the current fiscal year.

Insulet Profile

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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