Insulet Co. (NASDAQ:PODD) Shares Sold by Kentucky Retirement Systems Insurance Trust Fund

Kentucky Retirement Systems Insurance Trust Fund lowered its stake in shares of Insulet Co. (NASDAQ:PODD) by 7.4% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,304 shares of the medical instruments supplier’s stock after selling 184 shares during the quarter. Kentucky Retirement Systems Insurance Trust Fund’s holdings in Insulet were worth $395,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Sunbelt Securities Inc. purchased a new position in Insulet in the 1st quarter valued at $29,000. Benjamin F. Edwards & Company Inc. acquired a new position in Insulet in the 4th quarter valued at about $34,000. Jones Financial Companies Lllp purchased a new stake in Insulet in the 4th quarter valued at about $40,000. Lindbrook Capital LLC grew its holdings in shares of Insulet by 64.1% during the 4th quarter. Lindbrook Capital LLC now owns 192 shares of the medical instruments supplier’s stock worth $42,000 after purchasing an additional 75 shares during the period. Finally, Turtle Creek Wealth Advisors LLC purchased a new stake in shares of Insulet during the 4th quarter worth about $43,000.

Insulet Price Performance

PODD stock traded down $3.26 during trading hours on Monday, hitting $190.04. 265,096 shares of the stock traded hands, compared to its average volume of 837,794. The stock has a 50-day simple moving average of $193.24 and a 200 day simple moving average of $184.45. Insulet Co. has a one year low of $125.82 and a one year high of $281.83. The company has a market cap of $13.31 billion, a P/E ratio of 58.58, a P/E/G ratio of 3.47 and a beta of 1.16. The company has a current ratio of 3.74, a quick ratio of 2.75 and a debt-to-equity ratio of 1.72.

Insulet (NASDAQ:PODD) last announced its earnings results on Thursday, May 9th. The medical instruments supplier reported $0.73 EPS for the quarter, beating the consensus estimate of $0.39 by $0.34. Insulet had a return on equity of 34.06% and a net margin of 13.14%. The business had revenue of $441.70 million during the quarter, compared to the consensus estimate of $424.05 million. During the same period in the prior year, the business posted $0.23 earnings per share. Insulet’s revenue was up 23.3% compared to the same quarter last year. Equities analysts forecast that Insulet Co. will post 3.11 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on PODD shares. Jefferies Financial Group upped their price target on Insulet from $255.00 to $260.00 and gave the stock a “buy” rating in a report on Friday, May 10th. Redburn Atlantic initiated coverage on Insulet in a research report on Thursday, May 30th. They set a “buy” rating and a $235.00 price target on the stock. Wolfe Research raised Insulet from a “peer perform” rating to an “outperform” rating and set a $200.00 price target on the stock in a research report on Tuesday, May 7th. OTR Global restated a “mixed” rating on shares of Insulet in a research note on Monday, June 10th. Finally, Canaccord Genuity Group restated a “buy” rating and set a $234.00 price objective on shares of Insulet in a research note on Tuesday, July 23rd. Four equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $239.18.

Insider Activity

In related news, Director Timothy J. Scannell sold 3,300 shares of the stock in a transaction dated Tuesday, May 28th. The stock was sold at an average price of $180.90, for a total value of $596,970.00. Following the completion of the sale, the director now directly owns 42,586 shares of the company’s stock, valued at approximately $7,703,807.40. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, Director Timothy J. Scannell sold 7,000 shares of the firm’s stock in a transaction dated Monday, June 10th. The stock was sold at an average price of $190.51, for a total transaction of $1,333,570.00. Following the completion of the sale, the director now directly owns 35,586 shares of the company’s stock, valued at approximately $6,779,488.86. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Timothy J. Scannell sold 3,300 shares of the firm’s stock in a transaction dated Tuesday, May 28th. The stock was sold at an average price of $180.90, for a total value of $596,970.00. Following the sale, the director now directly owns 42,586 shares of the company’s stock, valued at $7,703,807.40. The disclosure for this sale can be found here. Insiders sold a total of 13,931 shares of company stock valued at $2,636,286 over the last three months. Insiders own 0.47% of the company’s stock.

About Insulet

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.