Kentucky Retirement Systems Insurance Trust Fund Purchases Shares of 2,031 Insulet Corporation (NASDAQ:PODD)

Kentucky Retirement Systems Insurance Trust Fund purchased a new stake in Insulet Corporation (NASDAQ:PODD) during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 2,031 shares of the medical instruments supplier’s stock, valued at approximately $533,000.

Several other institutional investors and hedge funds also recently modified their holdings of the business. Geode Capital Management LLC lifted its holdings in shares of Insulet by 2.3% in the fourth quarter. Geode Capital Management LLC now owns 1,779,167 shares of the medical instruments supplier’s stock valued at $463,347,000 after purchasing an additional 40,566 shares in the last quarter. Norges Bank purchased a new position in shares of Insulet during the fourth quarter valued at approximately $248,806,000. Artisan Partners Limited Partnership lifted its stake in shares of Insulet by 24.1% during the fourth quarter. Artisan Partners Limited Partnership now owns 770,188 shares of the medical instruments supplier’s stock valued at $201,073,000 after buying an additional 149,524 shares during the period. Northern Trust Corp lifted its stake in shares of Insulet by 20.5% during the fourth quarter. Northern Trust Corp now owns 738,811 shares of the medical instruments supplier’s stock valued at $192,881,000 after buying an additional 125,710 shares during the period. Finally, GAMMA Investing LLC lifted its stake in shares of Insulet by 27,298.6% during the first quarter. GAMMA Investing LLC now owns 664,141 shares of the medical instruments supplier’s stock valued at $1,744,100,000 after buying an additional 661,717 shares during the period.

Insulet Price Performance

Shares of PODD stock opened at $310.90 on Wednesday. The firm has a market cap of $21.88 billion, a P/E ratio of 55.92, a P/E/G ratio of 2.75 and a beta of 1.37. The company has a debt-to-equity ratio of 1.21, a current ratio of 4.47 and a quick ratio of 3.63. Insulet Corporation has a 1-year low of $173.00 and a 1-year high of $329.33. The firm has a fifty day moving average of $294.00 and a two-hundred day moving average of $276.84.

Insulet (NASDAQ:PODD) last announced its quarterly earnings data on Thursday, May 8th. The medical instruments supplier reported $1.02 earnings per share for the quarter, topping the consensus estimate of $0.81 by $0.21. The company had revenue of $569.00 million during the quarter, compared to analyst estimates of $543.20 million. Insulet had a net margin of 18.29% and a return on equity of 22.25%. The firm’s revenue for the quarter was up 28.8% compared to the same quarter last year. During the same period last year, the business earned $0.73 EPS. As a group, research analysts anticipate that Insulet Corporation will post 3.92 earnings per share for the current fiscal year.

Insider Transactions at Insulet

In other news, SVP John W. Kapples sold 5,278 shares of the firm’s stock in a transaction dated Wednesday, May 14th. The shares were sold at an average price of $318.47, for a total value of $1,680,884.66. Following the transaction, the senior vice president now directly owns 23,180 shares in the company, valued at approximately $7,382,134.60. This trade represents a 18.55% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 0.39% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently issued reports on PODD shares. Wells Fargo & Company set a $322.00 price objective on shares of Insulet in a research note on Monday, April 28th. The Goldman Sachs Group started coverage on shares of Insulet in a research note on Friday, May 30th. They set a “buy” rating and a $380.00 price objective on the stock. Oppenheimer upped their price objective on shares of Insulet from $312.00 to $324.00 and gave the company an “outperform” rating in a research note on Friday, May 9th. Sanford C. Bernstein reissued an “outperform” rating on shares of Insulet in a research note on Friday, May 16th. Finally, Citigroup reissued a “buy” rating and set a $380.00 price objective (up previously from $320.00) on shares of Insulet in a research note on Thursday, May 22nd. Four investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $321.00.

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.