Strs Ohio Has $5.15 Million Position in Insulet Corporation $PODD

Strs Ohio lifted its holdings in shares of Insulet Corporation (NASDAQ:PODD) by 241.4% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 16,677 shares of the medical instruments supplier’s stock after buying an additional 11,792 shares during the period. Strs Ohio’s holdings in Insulet were worth $5,149,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of PODD. Illinois Municipal Retirement Fund grew its holdings in 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 purchasing an additional 3,514 shares during the period. Janney Montgomery Scott LLC lifted its holdings in shares of Insulet by 784.9% during the second quarter. Janney Montgomery Scott LLC now owns 47,827 shares of the medical instruments supplier’s stock worth $15,026,000 after buying an additional 42,422 shares in the last quarter. Campbell & CO Investment Adviser LLC bought a new stake in Insulet in the 2nd quarter valued at about $1,081,000. Nordea Investment Management AB boosted its stake in shares of Insulet by 4.8% in the third quarter. Nordea Investment Management AB now owns 408,211 shares of the medical instruments supplier’s stock valued at $125,125,000 after buying an additional 18,553 shares during the period. Finally, Braun Stacey Associates Inc. bought a new stake in shares of Insulet during the 3rd quarter valued at $16,657,000.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on PODD shares. Stifel Nicolaus assumed coverage on Insulet in a report on Tuesday, October 21st. They issued a “buy” rating and a $370.00 target price on the stock. Wolfe Research increased their price target on Insulet from $350.00 to $375.00 and gave the company an “outperform” rating in a research note on Friday, November 7th. Truist Financial decreased their price target on Insulet from $412.00 to $390.00 and set a “buy” rating for the company in a report on Thursday, December 18th. Wells Fargo & Company lifted their price objective on shares of Insulet from $350.00 to $360.00 and gave the company an “overweight” rating in a research note on Friday, November 7th. Finally, BTIG Research increased their price target on Insulet from $370.00 to $380.00 and gave the stock a “buy” rating in a report on Friday, November 21st. Twenty equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $379.10.

Insulet Price Performance

Shares of NASDAQ:PODD opened at $271.31 on Tuesday. The company’s fifty day moving average price is $297.35 and its 200-day moving average price is $310.15. Insulet Corporation has a one year low of $230.05 and a one year high of $354.88. 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 firm has a market capitalization of $19.09 billion, a price-to-earnings ratio of 78.64, a PEG ratio of 1.51 and a beta of 1.40.

Insulet (NASDAQ:PODD) last announced its quarterly earnings data on Thursday, November 6th. The medical instruments supplier reported $1.24 earnings per share for the quarter, topping analysts’ consensus estimates of $1.13 by $0.11. The firm had revenue of $521.70 million during the quarter, compared to analyst estimates of $678.70 million. Insulet had a net margin of 9.76% and a return on equity of 24.36%. The business’s quarterly revenue was up 29.9% on a year-over-year basis. During the same period in the previous year, the business posted $1.08 EPS. On average, equities research 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.