Vestcor Inc Reduces Holdings in Insulet Co. (NASDAQ:PODD)

Vestcor Inc lowered its stake in shares of Insulet Co. (NASDAQ:PODD) by 26.0% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 1,187 shares of the medical instruments supplier’s stock after selling 416 shares during the period. Vestcor Inc’s holdings in Insulet were worth $310,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Raymond James Financial Inc. bought a new stake in Insulet during the 4th quarter valued at approximately $69,433,000. Alecta Tjanstepension Omsesidigt purchased a new position in shares of Insulet in the 4th quarter valued at approximately $53,184,000. Charles Schwab Investment Management Inc. boosted its position in shares of Insulet by 43.8% during the third quarter. Charles Schwab Investment Management Inc. now owns 636,265 shares of the medical instruments supplier’s stock valued at $148,091,000 after purchasing an additional 193,839 shares in the last quarter. Westfield Capital Management Co. LP grew its stake in Insulet by 27.6% in the third quarter. Westfield Capital Management Co. LP now owns 754,872 shares of the medical instruments supplier’s stock worth $175,697,000 after purchasing an additional 163,388 shares during the period. Finally, Proficio Capital Partners LLC bought a new position in Insulet in the fourth quarter worth $28,422,000.

Insider Transactions at Insulet

In other Insulet news, EVP Eric Benjamin sold 12,394 shares of the stock in a transaction dated 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 transaction, the executive vice president now owns 11,383 shares of the company’s stock, valued at approximately $3,187,240. This represents a 52.13 % 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. Company insiders own 0.47% of the company’s stock.

Insulet Price Performance

PODD opened at $261.63 on Tuesday. The company’s 50-day simple moving average is $272.40 and its two-hundred day simple moving average is $255.72. 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 capitalization of $18.37 billion, a P/E ratio of 45.19, a P/E/G ratio of 3.62 and a beta of 1.29. Insulet Co. has a 52-week low of $160.19 and a 52-week high of $289.46.

Insulet (NASDAQ:PODD) last issued 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. 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, analysts predict that Insulet Co. will post 3.92 EPS for the current year.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the stock. Canaccord Genuity Group upped their target price on shares of Insulet from $304.00 to $324.00 and gave the stock a “buy” rating in a research report on Friday, February 21st. Piper Sandler raised their target price on shares of Insulet from $285.00 to $310.00 and gave the company an “overweight” rating in a research note on Friday, February 21st. Citigroup boosted their price target on Insulet from $310.00 to $355.00 and gave the stock a “buy” rating in a research report on Friday, February 21st. Raymond James reaffirmed an “outperform” rating and set a $328.00 price objective (up previously from $294.00) on shares of Insulet in a research report on Friday, February 21st. Finally, Royal Bank of Canada started coverage on Insulet in a report on Thursday, March 6th. They issued an “outperform” rating and a $340.00 target price on the stock. Four research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat, Insulet currently has an average rating of “Moderate Buy” and an average 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.