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

Maryland State Retirement & Pension System lessened its stake in Insulet Co. (NASDAQ:PODD) by 6.5% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 3,729 shares of the medical instruments supplier’s stock after selling 261 shares during the quarter. Maryland State Retirement & Pension System’s holdings in Insulet were worth $974,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of PODD. Intech Investment Management LLC boosted its position in Insulet by 219.4% in the 4th quarter. Intech Investment Management LLC now owns 3,073 shares of the medical instruments supplier’s stock worth $802,000 after purchasing an additional 2,111 shares in the last quarter. Generali Asset Management SPA SGR acquired a new position in shares of Insulet in the 4th quarter valued at $3,264,000. Horizon Investments LLC boosted its holdings in Insulet by 3.1% during the fourth quarter. Horizon Investments LLC now owns 1,387 shares of the medical instruments supplier’s stock worth $362,000 after buying an additional 42 shares in the last quarter. Counterpoint Mutual Funds LLC acquired a new stake in Insulet during the fourth quarter valued at $297,000. Finally, Cibc World Markets Corp increased its holdings in Insulet by 46.1% in the fourth quarter. Cibc World Markets Corp now owns 13,851 shares of the medical instruments supplier’s stock valued at $3,616,000 after buying an additional 4,368 shares in the last quarter.

Analysts Set New Price Targets

Several research firms have recently issued reports on PODD. Raymond James reissued an “outperform” rating and set a $328.00 target price (up from $294.00) on shares of Insulet in a research note on Friday, February 21st. StockNews.com lowered Insulet from a “buy” rating to a “hold” rating in a report on Tuesday, March 4th. Royal Bank of Canada assumed coverage on Insulet in a research note on Thursday, March 6th. They set an “outperform” rating and a $340.00 target price for the company. Stifel Nicolaus boosted their price target on shares of Insulet from $245.00 to $293.00 and gave the stock a “hold” rating in a report on Friday, February 21st. Finally, Piper Sandler upped their price objective on shares of Insulet from $285.00 to $310.00 and gave the stock an “overweight” rating 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. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $292.06.

Insider Activity at Insulet

In other Insulet news, EVP Eric Benjamin sold 12,394 shares of Insulet stock in a transaction 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 in the company, valued at $3,187,240. The trade was a 52.13 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.47% of the stock is currently owned by insiders.

Insulet Stock Up 1.1 %

Shares of PODD opened at $268.32 on Monday. Insulet Co. has a 52-week low of $160.19 and a 52-week high of $289.46. The company has a quick ratio of 2.80, a current ratio of 3.68 and a debt-to-equity ratio of 1.21. The stock has a fifty day simple moving average of $272.04 and a two-hundred day simple moving average of $257.37. The company has a market capitalization of $18.84 billion, a PE ratio of 46.34, a price-to-earnings-growth ratio of 3.62 and a beta of 1.29.

Insulet (NASDAQ:PODD) last issued its earnings results on Thursday, February 20th. The medical instruments supplier reported $1.15 EPS 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 company had revenue of $597.50 million for the quarter, compared to the consensus estimate of $582.02 million. As a group, equities analysts forecast that Insulet Co. will post 3.92 EPS for the current year.

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.