State of Tennessee Department of Treasury Has $8.21 Million Stock Holdings in Insulet Co. (NASDAQ:PODD)

State of Tennessee Department of Treasury decreased its position in Insulet Co. (NASDAQ:PODD) by 10.0% during the 4th quarter, Holdings Channel reports. The firm owned 31,437 shares of the medical instruments supplier’s stock after selling 3,476 shares during the quarter. State of Tennessee Department of Treasury’s holdings in Insulet were worth $8,207,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. SBI Securities Co. Ltd. bought a new stake in Insulet during the fourth quarter worth about $36,000. SRS Capital Advisors Inc. boosted its holdings in shares of Insulet by 43.1% in the 4th quarter. SRS Capital Advisors Inc. now owns 186 shares of the medical instruments supplier’s stock worth $49,000 after acquiring an additional 56 shares in the last quarter. Friedenthal Financial acquired a new position in shares of Insulet in the 4th quarter worth approximately $57,000. Assetmark Inc. grew its position in Insulet by 1,447.1% during the 4th quarter. Assetmark Inc. now owns 263 shares of the medical instruments supplier’s stock worth $69,000 after acquiring an additional 246 shares during the last quarter. Finally, Blue Trust Inc. increased its holdings in Insulet by 117.3% during the 4th quarter. Blue Trust Inc. now owns 276 shares of the medical instruments supplier’s stock valued at $72,000 after purchasing an additional 149 shares in the last quarter.

Analysts Set New Price Targets

Several analysts have recently commented on PODD shares. Wells Fargo & Company increased their target price on Insulet from $305.00 to $322.00 and gave the stock an “overweight” rating in a report on Friday, February 21st. Canaccord Genuity Group raised their price objective on shares of Insulet from $304.00 to $324.00 and gave the company a “buy” rating in a research report on Friday, February 21st. Royal Bank of Canada began coverage on shares of Insulet in a research report on Thursday, March 6th. They set an “outperform” rating and a $340.00 target price on the stock. Stifel Nicolaus raised their price target on shares of Insulet from $245.00 to $293.00 and gave the company a “hold” rating in a report on Friday, February 21st. Finally, Citigroup upped their price objective on Insulet from $310.00 to $355.00 and gave the stock a “buy” rating in a report on Friday, February 21st. Four investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $292.06.

Insiders Place Their Bets

In related news, Director Wayne A.I. Frederick sold 1,825 shares of the stock in a transaction that occurred on Tuesday, March 25th. The stock was sold at an average price of $275.00, for a total transaction of $501,875.00. Following the completion of the sale, the director now directly owns 3,231 shares of the company’s stock, valued at approximately $888,525. This represents a 36.10 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.47% of the company’s stock.

Insulet Stock Performance

Shares of PODD stock opened at $259.38 on Friday. The stock has a market cap of $18.22 billion, a PE ratio of 44.80, a price-to-earnings-growth ratio of 3.62 and a beta of 1.30. The stock has a 50-day moving average of $260.61 and a 200-day moving average of $261.27. The company has a debt-to-equity ratio of 1.21, a current ratio of 3.68 and a quick ratio of 2.80. Insulet Co. has a one year low of $160.19 and a one year high of $289.46.

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

Insulet 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.