Oregon Public Employees Retirement Fund Grows Position in Insulet Corporation $PODD

Oregon Public Employees Retirement Fund grew its holdings in shares of Insulet Corporation (NASDAQ:PODD) by 31.6% in the third quarter, Holdings Channel.com reports. The firm owned 8,040 shares of the medical instruments supplier’s stock after buying an additional 1,931 shares during the period. Oregon Public Employees Retirement Fund’s holdings in Insulet were worth $2,482,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Norges Bank bought a new position in Insulet in the 2nd quarter worth approximately $324,689,000. Qube Research & Technologies Ltd bought a new position in shares of Insulet in the second quarter worth $131,439,000. Worldquant Millennium Advisors LLC purchased a new position in shares of Insulet in the second quarter valued at $80,082,000. Munro Partners raised its stake in shares of Insulet by 1,483.0% during the 3rd quarter. Munro Partners now owns 227,240 shares of the medical instruments supplier’s stock valued at $70,156,000 after purchasing an additional 212,885 shares during the period. Finally, AustralianSuper Pty Ltd lifted its holdings in Insulet by 487.5% during the 2nd quarter. AustralianSuper Pty Ltd now owns 205,168 shares of the medical instruments supplier’s stock worth $64,460,000 after purchasing an additional 170,247 shares in the last quarter.

Insulet Stock Performance

NASDAQ PODD opened at $278.55 on Tuesday. Insulet Corporation has a 52-week low of $230.05 and a 52-week high of $354.88. The company has a fifty day moving average of $306.15 and a 200-day moving average of $311.62. The company has a market capitalization of $19.60 billion, a P/E ratio of 80.74, a P/E/G ratio of 1.61 and a beta of 1.40. The company has a debt-to-equity ratio of 0.68, a quick ratio of 2.18 and a current ratio of 2.87.

Insulet (NASDAQ:PODD) last released its earnings results on Thursday, November 6th. The medical instruments supplier reported $1.24 EPS for the quarter, beating analysts’ consensus estimates of $1.13 by $0.11. Insulet had a return on equity of 24.36% and a net margin of 9.76%.The business had revenue of $521.70 million for the quarter, compared to analysts’ expectations of $678.70 million. During the same quarter in the prior year, the firm earned $1.08 earnings per share. The firm’s revenue was up 29.9% on a year-over-year basis. As a group, equities research analysts predict that Insulet Corporation will post 3.92 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on PODD shares. The Goldman Sachs Group reaffirmed a “buy” rating and set a $365.00 target price on shares of Insulet in a report on Friday. Truist Financial reduced their price objective on shares of Insulet from $412.00 to $390.00 and set a “buy” rating for the company in a research note on Thursday, December 18th. BTIG Research upped their target price on shares of Insulet from $370.00 to $380.00 and gave the stock a “buy” rating in a report on Friday, November 21st. Jefferies Financial Group raised their price target on shares of Insulet from $375.00 to $400.00 and gave the company a “buy” rating in a report on Thursday, November 6th. Finally, Raymond James Financial upped their price target on shares of Insulet from $366.00 to $385.00 and gave the stock an “outperform” rating in a report on Friday, November 21st. Twenty-one investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $379.10.

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.