Insulet Co. (NASDAQ:PODD) Shares Sold by State of Tennessee Department of Treasury

State of Tennessee Department of Treasury lowered its position in Insulet Co. (NASDAQ:PODD - Free Report) by 10.0% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 31,437 shares of the medical instruments supplier's stock after selling 3,476 shares during the period. State of Tennessee Department of Treasury's holdings in Insulet were worth $8,207,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of PODD. SBI Securities Co. Ltd. purchased a new position in Insulet during the fourth quarter worth about $36,000. SRS Capital Advisors Inc. grew its position in Insulet by 43.1% in the fourth quarter. SRS Capital Advisors Inc. now owns 186 shares of the medical instruments supplier's stock worth $49,000 after acquiring an additional 56 shares during the period. Friedenthal Financial purchased a new position in Insulet in the fourth quarter worth approximately $57,000. Assetmark Inc. raised its position in Insulet by 1,447.1% in the fourth quarter. Assetmark Inc. now owns 263 shares of the medical instruments supplier's stock valued at $69,000 after purchasing an additional 246 shares during the period. Finally, Blue Trust Inc. raised its position in Insulet by 117.3% in the fourth quarter. Blue Trust Inc. now owns 276 shares of the medical instruments supplier's stock valued at $72,000 after purchasing an additional 149 shares during the period.

Insider Buying and Selling at Insulet

In other Insulet news, Director Wayne A.I. Frederick sold 1,825 shares of the firm's stock in a transaction on Tuesday, March 25th. The stock was sold at an average price of $275.00, for a total value of $501,875.00. Following the completion of the sale, the director now owns 3,231 shares of the company's stock, valued at approximately $888,525. This trade represents a 36.10 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.47% of the stock is owned by company insiders.

Insulet Stock Performance

NASDAQ PODD traded down $1.02 on Wednesday, reaching $250.25. The stock had a trading volume of 216,979 shares, compared to its average volume of 714,259. The company has a debt-to-equity ratio of 1.21, a quick ratio of 2.80 and a current ratio of 3.68. The stock has a market cap of $17.57 billion, a P/E ratio of 43.08, a price-to-earnings-growth ratio of 3.62 and a beta of 1.30. The business's 50-day moving average price is $258.98 and its 200 day moving average price is $262.02. Insulet Co. has a 12-month low of $160.19 and a 12-month high of $289.46.

Insulet (NASDAQ:PODD - Get Free Report) last issued its quarterly earnings results on Thursday, February 20th. The medical instruments supplier reported $1.15 earnings per share for the quarter, topping analysts' consensus estimates of $1.00 by $0.15. Insulet had a net margin of 20.19% and a return on equity of 24.46%. The firm had revenue of $597.50 million during the quarter, compared to analysts' expectations of $582.02 million. As a group, equities analysts expect that Insulet Co. will post 3.92 earnings per share for the current year.

Analyst Ratings Changes

Several research analysts have recently commented on the company. Wolfe Research lowered Insulet from an "outperform" rating to a "peer perform" rating in a research report on Tuesday. Royal Bank of Canada began coverage on Insulet in a research report on Thursday, March 6th. They issued an "outperform" rating and a $340.00 target price for the company. Wells Fargo & Company set a $322.00 price target on shares of Insulet in a research report on Monday. TD Cowen upped their target price on shares of Insulet from $264.00 to $324.00 and gave the stock a "buy" rating in a research note on Friday, January 3rd. Finally, Stifel Nicolaus increased their target price on shares of Insulet from $245.00 to $293.00 and gave the stock a "hold" rating in a report on Friday, February 21st. Five analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company's stock. According to MarketBeat.com, Insulet currently has a consensus rating of "Moderate Buy" and a consensus target price of $292.06.

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.