Vestcor Inc Grows Stock Position in Insulet Corporation $PODD

Vestcor Inc grew its stake in Insulet Corporation (NASDAQ:PODD) by 261.4% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 5,443 shares of the medical instruments supplier’s stock after buying an additional 3,937 shares during the quarter. Vestcor Inc’s holdings in Insulet were worth $1,680,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of PODD. Winnow Wealth LLC purchased a new position in Insulet in the 3rd quarter valued at approximately $862,000. Illinois Municipal Retirement Fund increased its position in shares of Insulet by 41.3% during the second quarter. Illinois Municipal Retirement Fund now owns 12,030 shares of the medical instruments supplier’s stock worth $3,780,000 after acquiring an additional 3,514 shares during the period. Machina Capital S.A.S. purchased a new stake in shares of Insulet during the third quarter worth $2,778,000. Fisher Asset Management LLC raised its stake in shares of Insulet by 38.1% in the third quarter. Fisher Asset Management LLC now owns 46,273 shares of the medical instruments supplier’s stock valued at $14,286,000 after acquiring an additional 12,754 shares in the last quarter. Finally, Campbell & CO Investment Adviser LLC acquired a new stake in shares of Insulet in the second quarter valued at $1,081,000.

Analyst Ratings Changes

Several research analysts recently commented on PODD shares. JPMorgan Chase & Co. lowered their target price on Insulet from $415.00 to $340.00 and set an “overweight” rating for the company in a research note on Thursday, February 19th. Zacks Research lowered Insulet from a “strong-buy” rating to a “hold” rating in a research report on Monday, January 5th. Royal Bank Of Canada lifted their price objective on Insulet from $370.00 to $380.00 and gave the company an “outperform” rating in a research note on Friday, November 21st. Citigroup lowered their price objective on Insulet from $345.00 to $338.00 and set a “buy” rating for the company in a research report on Wednesday. Finally, TD Cowen lowered shares of Insulet from a “buy” rating to a “hold” rating and set a $294.00 target price on the stock. in a research note on Monday, January 26th. Twenty equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $354.24.

Insider Buying and Selling at Insulet

In other Insulet news, Director Michael R. Minogue bought 2,030 shares of the firm’s stock in a transaction that occurred on Wednesday, February 25th. The stock was purchased at an average price of $246.23 per share, for a total transaction of $499,846.90. Following the completion of the purchase, the director directly owned 17,483 shares in the company, valued at $4,304,839.09. This trade represents a 13.14% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.39% of the company’s stock.

Insulet Stock Performance

NASDAQ:PODD opened at $238.82 on Thursday. The firm has a market capitalization of $16.81 billion, a PE ratio of 68.23, a price-to-earnings-growth ratio of 1.42 and a beta of 1.42. The business’s fifty day moving average price is $260.70 and its 200 day moving average price is $298.50. The company has a debt-to-equity ratio of 0.61, a current ratio of 2.81 and a quick ratio of 2.15. Insulet Corporation has a 12 month low of $233.29 and a 12 month high of $354.88.

Insulet (NASDAQ:PODD) last announced its quarterly earnings results on Wednesday, February 18th. The medical instruments supplier reported $1.55 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.48 by $0.07. The company had revenue of $783.80 million during the quarter, compared to the consensus estimate of $768.31 million. Insulet had a return on equity of 24.90% and a net margin of 9.12%.Insulet’s revenue for the quarter was up 31.2% on a year-over-year basis. During the same period in the previous year, the business earned $1.15 EPS. On average, sell-side analysts anticipate that Insulet Corporation will post 3.92 earnings per share for the current fiscal year.

Insulet Profile

Insulet Corporation is a medical device company headquartered in Acton, Massachusetts, that develops, manufactures and sells insulin-delivery systems for people with diabetes. The company’s core business is the design and commercialization of its Omnipod family of tubeless, wearable insulin pumps and the consumable Pods that deliver insulin. Insulet’s products aim to simplify insulin delivery for people with type 1 diabetes and insulin-requiring type 2 diabetes by offering an alternative to traditional insulin pens and tethered pump systems.

The company’s product portfolio includes the Omnipod System line—disposable, waterproof Pods that adhere to the skin and deliver insulin—and the associated controllers and mobile applications used to program and monitor insulin delivery.