Vestcor Inc Increases Stock Holdings in Insulet Corporation $PODD

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

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in PODD. Vanguard Group Inc. boosted its holdings in Insulet by 1.0% in the third quarter. Vanguard Group Inc. now owns 8,796,200 shares of the medical instruments supplier’s stock worth $2,715,651,000 after acquiring an additional 87,845 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of Insulet by 3.1% during the second quarter. Geode Capital Management LLC now owns 1,927,543 shares of the medical instruments supplier’s stock valued at $603,211,000 after acquiring an additional 58,309 shares in the last quarter. Norges Bank acquired a new position in shares of Insulet during the second quarter valued at about $324,689,000. Federated Hermes Inc. raised its position in shares of Insulet by 14.3% in the 2nd quarter. Federated Hermes Inc. now owns 723,363 shares of the medical instruments supplier’s stock valued at $227,266,000 after purchasing an additional 90,494 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its position in shares of Insulet by 1.0% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 681,130 shares of the medical instruments supplier’s stock valued at $213,997,000 after purchasing an additional 6,763 shares during the last quarter.

Analyst Ratings Changes

Several analysts have weighed in on the stock. JPMorgan Chase & Co. dropped their target price on shares of Insulet from $415.00 to $340.00 and set an “overweight” rating on the stock in a research report on Thursday, February 19th. Citigroup decreased their price target on shares of Insulet from $345.00 to $338.00 and set a “buy” rating for the company in a report on Wednesday. BTIG Research reiterated a “buy” rating and set a $380.00 price objective on shares of Insulet in a research note on Wednesday, February 18th. The Goldman Sachs Group dropped their price objective on shares of Insulet from $363.00 to $326.00 and set a “buy” rating on the stock in a report on Thursday, February 19th. Finally, Canaccord Genuity Group cut their target price on Insulet from $450.00 to $435.00 and set a “buy” rating on the stock in a research report on Wednesday, February 18th. Twenty analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Insulet presently has an average rating of “Moderate Buy” and a consensus target price of $354.24.

Insulet Price Performance

Shares of NASDAQ PODD opened at $238.82 on Thursday. Insulet Corporation has a 52 week low of $233.29 and a 52 week high of $354.88. The business’s 50 day moving average price is $260.70 and its 200 day moving average price is $298.50. The company has a quick ratio of 2.15, a current ratio of 2.81 and a debt-to-equity ratio of 0.61. The firm has a market cap of $16.81 billion, a P/E ratio of 68.23, a P/E/G ratio of 1.42 and a beta of 1.42.

Insulet (NASDAQ:PODD) last posted 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. Insulet had a net margin of 9.12% and a return on equity of 24.90%. The company had revenue of $783.80 million during the quarter, compared to analyst estimates of $768.31 million. During the same period last year, the firm posted $1.15 EPS. Insulet’s revenue for the quarter was up 31.2% compared to the same quarter last year. On average, sell-side analysts expect that Insulet Corporation will post 3.92 earnings per share for the current year.

Insider Activity

In other Insulet news, Director Michael R. Minogue bought 2,030 shares of Insulet stock in a transaction that occurred on Wednesday, February 25th. The stock was purchased at an average price of $246.23 per share, with a total value of $499,846.90. Following the completion of the acquisition, the director directly owned 17,483 shares in the company, valued at approximately $4,304,839.09. This trade represents a 13.14% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.39% of the stock is currently owned by company insiders.

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.