California Public Employees Retirement System Sells 29,389 Shares of Insulet Co. (NASDAQ:PODD)

California Public Employees Retirement System lowered its holdings in shares of Insulet Co. (NASDAQ:PODD - Free Report) by 22.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 99,253 shares of the medical instruments supplier's stock after selling 29,389 shares during the quarter. California Public Employees Retirement System owned approximately 0.14% of Insulet worth $21,536,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in PODD. Jennison Associates LLC lifted its stake in shares of Insulet by 57.7% in the 4th quarter. Jennison Associates LLC now owns 207,519 shares of the medical instruments supplier's stock valued at $45,027,000 after purchasing an additional 75,954 shares during the last quarter. Duality Advisers LP lifted its stake in shares of Insulet by 15.9% in the 4th quarter. Duality Advisers LP now owns 10,102 shares of the medical instruments supplier's stock valued at $2,192,000 after purchasing an additional 1,387 shares during the last quarter. EFG Asset Management Americas Corp. lifted its stake in shares of Insulet by 7.9% in the 4th quarter. EFG Asset Management Americas Corp. now owns 9,180 shares of the medical instruments supplier's stock valued at $1,992,000 after purchasing an additional 669 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd lifted its stake in shares of Insulet by 2.3% in the 4th quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 6,186 shares of the medical instruments supplier's stock valued at $1,342,000 after purchasing an additional 137 shares during the last quarter. Finally, OVERSEA CHINESE BANKING Corp Ltd bought a new stake in shares of Insulet in the 4th quarter valued at approximately $226,000.

Insider Buying and Selling

In related news, Director Shacey Petrovic sold 11,609 shares of the company's stock in a transaction dated Wednesday, February 28th. The stock was sold at an average price of $162.92, for a total value of $1,891,338.28. Following the completion of the transaction, the director now owns 2,567 shares of the company's stock, valued at approximately $418,215.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.47% of the stock is currently owned by insiders.

Insulet Stock Performance

PODD traded up $4.07 on Monday, reaching $170.26. 602,109 shares of the stock were exchanged, compared to its average volume of 859,181. The company's 50-day moving average price is $171.09 and its 200 day moving average price is $180.25. Insulet Co. has a fifty-two week low of $125.82 and a fifty-two week high of $335.91. The company has a debt-to-equity ratio of 1.86, a current ratio of 3.51 and a quick ratio of 2.62. The firm has a market capitalization of $11.92 billion, a PE ratio of 58.51, a PEG ratio of 2.99 and a beta of 0.98.

Insulet (NASDAQ:PODD - Get Free Report) last issued its quarterly earnings results on Thursday, February 22nd. The medical instruments supplier reported $1.40 EPS for the quarter, topping analysts' consensus estimates of $0.67 by $0.73. Insulet had a return on equity of 32.19% and a net margin of 12.16%. The company had revenue of $509.80 million during the quarter, compared to analysts' expectations of $461.26 million. During the same quarter in the previous year, the firm posted $0.55 EPS. The firm's revenue was up 37.9% compared to the same quarter last year. As a group, sell-side analysts forecast that Insulet Co. will post 3.08 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on PODD shares. Piper Sandler decreased their price target on Insulet from $250.00 to $230.00 and set an "overweight" rating for the company in a research note on Friday, February 23rd. Stifel Nicolaus raised their price target on Insulet from $163.00 to $208.00 and gave the stock a "hold" rating in a research note on Monday, February 5th. Barclays decreased their price target on Insulet from $214.00 to $213.00 and set an "equal weight" rating for the company in a research note on Monday, February 26th. Finally, JPMorgan Chase & Co. raised their price target on Insulet from $190.00 to $225.00 and gave the stock an "overweight" rating in a research note on Friday, February 23rd. Four investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to MarketBeat, Insulet currently has a consensus rating of "Moderate Buy" and a consensus target price of $243.21.

Insulet 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.