New York State Common Retirement Fund Sells 4,474,975 Shares of Insulet Co. (NASDAQ:PODD)

New York State Common Retirement Fund decreased its holdings in Insulet Co. (NASDAQ:PODD) by 98.9% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 48,637 shares of the medical instruments supplier’s stock after selling 4,474,975 shares during the period. New York State Common Retirement Fund owned about 0.07% of Insulet worth $12,698,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently bought and sold shares of the stock. Integrated Wealth Concepts LLC raised its position in shares of Insulet by 1.7% in the 3rd quarter. Integrated Wealth Concepts LLC now owns 2,561 shares of the medical instruments supplier’s stock worth $596,000 after acquiring an additional 42 shares in the last quarter. Nisa Investment Advisors LLC lifted its position in shares of Insulet by 1.0% during the fourth quarter. Nisa Investment Advisors LLC now owns 4,388 shares of the medical instruments supplier’s stock valued at $1,146,000 after buying an additional 43 shares during the last quarter. Glenmede Trust Co. NA lifted its position in shares of Insulet by 2.3% during the third quarter. Glenmede Trust Co. NA now owns 2,080 shares of the medical instruments supplier’s stock valued at $484,000 after buying an additional 47 shares during the last quarter. Graypoint LLC grew its position in shares of Insulet by 5.3% in the 4th quarter. Graypoint LLC now owns 930 shares of the medical instruments supplier’s stock worth $243,000 after buying an additional 47 shares during the last quarter. Finally, Wilmington Savings Fund Society FSB grew its position in shares of Insulet by 9.6% in the 4th quarter. Wilmington Savings Fund Society FSB now owns 538 shares of the medical instruments supplier’s stock worth $140,000 after buying an additional 47 shares during the last quarter.

Analysts Set New Price Targets

PODD has been the subject of several recent analyst reports. TD Cowen raised their target price on shares of Insulet from $264.00 to $324.00 and gave the company a “buy” rating in a research note on Friday, January 3rd. Piper Sandler raised their price objective on Insulet from $285.00 to $310.00 and gave the stock an “overweight” rating in a research report on Friday. JPMorgan Chase & Co. boosted their target price on Insulet from $280.00 to $330.00 and gave the stock an “overweight” rating in a research note on Thursday, December 12th. Citigroup increased their price target on Insulet from $310.00 to $355.00 and gave the company a “buy” rating in a research note on Friday. Finally, BTIG Research boosted their price target on Insulet from $260.00 to $270.00 and gave the stock a “buy” rating in a research note on Friday, November 8th. Three research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat, Insulet has a consensus rating of “Moderate Buy” and a consensus price target of $289.06.

Insulet Stock Up 0.2 %

NASDAQ:PODD opened at $283.48 on Tuesday. The company has a debt-to-equity ratio of 1.21, a current ratio of 3.68 and a quick ratio of 2.80. The company’s fifty day moving average price is $273.33 and its 200-day moving average price is $248.46. Insulet Co. has a 1-year low of $160.19 and a 1-year high of $289.46. The firm has a market capitalization of $19.88 billion, a P/E ratio of 48.96, a PEG ratio of 3.62 and a beta of 1.23.

Insulet (NASDAQ:PODD) last announced its quarterly earnings results on Thursday, February 20th. The medical instruments supplier reported $1.15 earnings per share for the quarter, topping the consensus estimate of $1.00 by $0.15. The company had revenue of $597.50 million for the quarter, compared to the consensus estimate of $582.02 million. Insulet had a return on equity of 24.46% and a net margin of 20.19%. As a group, equities research analysts anticipate that Insulet Co. will post 3.92 EPS for the current year.

Insider Buying and Selling at Insulet

In related news, CAO Lauren Budden sold 915 shares of the business’s stock in a transaction on Tuesday, December 10th. The shares were sold at an average price of $275.62, for a total value of $252,192.30. Following the completion of the transaction, the chief accounting officer now directly owns 5,733 shares in the company, valued at $1,580,129.46. The trade was a 13.76 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Eric Benjamin sold 12,394 shares of the firm’s stock in a transaction on Tuesday, January 21st. The shares were sold at an average price of $280.00, for a total transaction of $3,470,320.00. Following the sale, the executive vice president now owns 11,383 shares in the company, valued at approximately $3,187,240. This represents a 52.13 % decrease in their position. The disclosure for this sale can be found here. 0.47% of the stock is currently owned by corporate insiders.

About Insulet

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.