Insulet Corporation $PODD Shares Bought by California Public Employees Retirement System

California Public Employees Retirement System grew its stake in Insulet Corporation (NASDAQ:PODD) by 5.4% during the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 124,698 shares of the medical instruments supplier’s stock after purchasing an additional 6,424 shares during the quarter. California Public Employees Retirement System owned approximately 0.18% of Insulet worth $39,178,000 as of its most recent filing with the SEC.

Several other large investors have also modified their holdings of the stock. Zions Bancorporation National Association UT bought a new stake in Insulet in the first quarter valued at about $26,000. SouthState Corp grew its position in shares of Insulet by 253.3% in the 1st quarter. SouthState Corp now owns 106 shares of the medical instruments supplier’s stock worth $28,000 after acquiring an additional 76 shares in the last quarter. Kozak & Associates Inc. bought a new stake in shares of Insulet in the 2nd quarter valued at approximately $32,000. Golden State Wealth Management LLC raised its position in shares of Insulet by 202.9% during the 2nd quarter. Golden State Wealth Management LLC now owns 103 shares of the medical instruments supplier’s stock valued at $32,000 after acquiring an additional 69 shares in the last quarter. Finally, Trust Co. of Toledo NA OH acquired a new stake in shares of Insulet during the 2nd quarter valued at approximately $35,000.

Insulet Stock Up 0.3%

PODD opened at $295.19 on Thursday. The stock’s 50 day moving average price is $319.51 and its 200 day moving average price is $315.28. The company has a debt-to-equity ratio of 0.68, a current ratio of 2.87 and a quick ratio of 2.18. The stock has a market cap of $20.77 billion, a P/E ratio of 85.56, a P/E/G ratio of 2.07 and a beta of 1.37. Insulet Corporation has a 12 month low of $230.05 and a 12 month high of $354.88.

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

Wall Street Analyst Weigh In

Several analysts have weighed in on PODD shares. UBS Group upgraded shares of Insulet from a “neutral” rating to a “buy” rating and boosted their target price for the company from $355.00 to $400.00 in a research note on Wednesday, November 19th. BTIG Research boosted their price objective on shares of Insulet from $370.00 to $380.00 and gave the company a “buy” rating in a research report on Friday, November 21st. Piper Sandler increased their price objective on shares of Insulet from $320.00 to $360.00 and gave the stock an “overweight” rating in a research note on Tuesday, September 16th. Royal Bank Of Canada raised their target price on shares of Insulet from $370.00 to $380.00 and gave the stock an “outperform” rating in a report on Friday, November 21st. Finally, Rothschild & Co Redburn upped their target price on Insulet from $350.00 to $370.00 and gave the company a “buy” rating in a report on Friday, October 3rd. One analyst has rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $379.65.

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.