California Public Employees Retirement System Acquires 42,796 Shares of Insulet Co. (NASDAQ:PODD)

California Public Employees Retirement System increased its holdings in shares of Insulet Co. (NASDAQ:PODD) by 59.4% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 114,796 shares of the medical instruments supplier’s stock after acquiring an additional 42,796 shares during the quarter. California Public Employees Retirement System owned about 0.19% of Insulet worth $18,933,000 as of its most recent filing with the SEC.

A number of other large investors have also added to or reduced their stakes in PODD. Brinker Capital Inc. grew its stake in Insulet by 1.4% during the third quarter. Brinker Capital Inc. now owns 5,230 shares of the medical instruments supplier’s stock worth $863,000 after buying an additional 73 shares in the last quarter. Bamco Inc. NY grew its stake in Insulet by 3.3% during the second quarter. Bamco Inc. NY now owns 3,112 shares of the medical instruments supplier’s stock worth $372,000 after buying an additional 100 shares in the last quarter. Flagship Harbor Advisors LLC grew its stake in Insulet by 8.6% during the second quarter. Flagship Harbor Advisors LLC now owns 1,577 shares of the medical instruments supplier’s stock worth $188,000 after buying an additional 125 shares in the last quarter. Cortina Asset Management LLC grew its stake in Insulet by 5.4% during the second quarter. Cortina Asset Management LLC now owns 2,447 shares of the medical instruments supplier’s stock worth $292,000 after buying an additional 126 shares in the last quarter. Finally, BB&T Securities LLC grew its stake in Insulet by 2.2% during the third quarter. BB&T Securities LLC now owns 8,352 shares of the medical instruments supplier’s stock worth $1,375,000 after buying an additional 183 shares in the last quarter.

A number of equities research analysts have issued reports on PODD shares. Stifel Nicolaus started coverage on shares of Insulet in a research note on Tuesday, October 22nd. They set a “hold” rating and a $163.00 price objective on the stock. BidaskClub downgraded shares of Insulet from a “buy” rating to a “hold” rating in a research note on Tuesday. Guggenheim downgraded shares of Insulet from a “buy” rating to a “neutral” rating in a research note on Thursday, October 3rd. They noted that the move was a valuation call. Leerink Swann reiterated an “outperform” rating and set a $185.00 price objective (up from $160.00) on shares of Insulet in a research note on Tuesday, September 24th. Finally, Cowen set a $165.00 price objective on shares of Insulet and gave the stock a “buy” rating in a research note on Monday, October 21st. Ten research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Insulet has a consensus rating of “Hold” and an average target price of $151.71.

In related news, SVP Michael P. Spears sold 4,153 shares of the firm’s stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $146.12, for a total value of $606,836.36. Following the completion of the transaction, the senior vice president now owns 22,626 shares in the company, valued at approximately $3,306,111.12. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Shacey Petrovic sold 649 shares of the firm’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $152.40, for a total transaction of $98,907.60. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 5,491 shares of company stock worth $806,124. 3.50% of the stock is currently owned by corporate insiders.

PODD opened at $169.46 on Friday. The company’s 50 day moving average is $154.75 and its 200-day moving average is $130.77. Insulet Co. has a 1-year low of $70.80 and a 1-year high of $171.96. The company has a current ratio of 4.72, a quick ratio of 3.91 and a debt-to-equity ratio of 2.43. The company has a market cap of $8.73 billion, a P/E ratio of 3,389.20 and a beta of 0.96.

Insulet (NASDAQ:PODD) last posted its quarterly earnings results on Tuesday, November 5th. The medical instruments supplier reported $0.01 earnings per share for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.02). Insulet had a net margin of 2.38% and a return on equity of 9.46%. The company had revenue of $192.12 million during the quarter, compared to analyst estimates of $179.50 million. During the same quarter in the previous year, the business posted $0.03 earnings per share. The company’s revenue for the quarter was up 27.2% on a year-over-year basis. On average, equities analysts forecast that Insulet Co. will post 0.23 EPS for the current year.

About Insulet

Insulet Corporation develops, manufactures, and sells insulin delivery systems for people with insulin-dependent diabetes. The company offers Omnipod System, which consists of self-adhesive disposable tubeless Omnipod device (the pod) that delivers insulin into the body; and Personal Diabetes Manager, a handheld wireless device, which programs the Pod.

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Institutional Ownership by Quarter for Insulet (NASDAQ:PODD)

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