Maryland State Retirement & Pension System Lowers Stock Holdings in Insulet Co. (NASDAQ:PODD)

Maryland State Retirement & Pension System cut its position in Insulet Co. (NASDAQ:PODD) by 6.5% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 3,729 shares of the medical instruments supplier’s stock after selling 261 shares during the period. Maryland State Retirement & Pension System’s holdings in Insulet were worth $974,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. SBI Securities Co. Ltd. purchased a new stake in shares of Insulet during the fourth quarter worth $36,000. SRS Capital Advisors Inc. increased its holdings in 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 purchasing an additional 56 shares during the period. TD Private Client Wealth LLC raised its position in Insulet by 32.6% in the 3rd quarter. TD Private Client Wealth LLC now owns 228 shares of the medical instruments supplier’s stock valued at $53,000 after purchasing an additional 56 shares in the last quarter. Friedenthal Financial purchased a new position in shares of Insulet in the 4th quarter valued at about $57,000. Finally, Assetmark Inc. grew its position in shares of Insulet by 1,447.1% during the fourth quarter. Assetmark Inc. now owns 263 shares of the medical instruments supplier’s stock worth $69,000 after buying an additional 246 shares in the last quarter.

Insulet Trading Up 1.1 %

Shares of PODD stock opened at $268.32 on Monday. Insulet Co. has a twelve month low of $160.19 and a twelve month high of $289.46. The company has a current ratio of 3.68, a quick ratio of 2.80 and a debt-to-equity ratio of 1.21. The business’s 50 day moving average is $272.04 and its two-hundred day moving average is $257.37. The company has a market capitalization of $18.84 billion, a P/E ratio of 46.34, a price-to-earnings-growth ratio of 3.62 and a beta of 1.29.

Insulet (NASDAQ:PODD) last posted its quarterly earnings data on Thursday, February 20th. The medical instruments supplier reported $1.15 earnings per share for the quarter, beating analysts’ consensus estimates of $1.00 by $0.15. The firm had revenue of $597.50 million for the quarter, compared to analyst estimates of $582.02 million. Insulet had a net margin of 20.19% and a return on equity of 24.46%. Equities analysts forecast that Insulet Co. will post 3.92 EPS for the current year.

Insider Transactions at Insulet

In other Insulet news, EVP Eric Benjamin sold 12,394 shares of Insulet stock in a transaction that occurred on Tuesday, January 21st. The stock was sold at an average price of $280.00, for a total value of $3,470,320.00. Following the sale, the executive vice president now owns 11,383 shares of the company’s stock, valued at approximately $3,187,240. The trade was a 52.13 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.47% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the stock. Piper Sandler lifted their price target on shares of Insulet from $285.00 to $310.00 and gave the stock an “overweight” rating in a research note on Friday, February 21st. StockNews.com cut shares of Insulet from a “buy” rating to a “hold” rating in a research report on Tuesday, March 4th. JPMorgan Chase & Co. boosted their target price on shares of Insulet from $280.00 to $330.00 and gave the stock an “overweight” rating in a research note on Thursday, December 12th. Royal Bank of Canada started coverage on Insulet in a research note on Thursday, March 6th. They issued an “outperform” rating and a $340.00 price target on the stock. Finally, Raymond James reaffirmed an “outperform” rating and set a $328.00 price objective (up from $294.00) on shares of Insulet in a research report on Friday, February 21st. Four investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target 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.