Teacher Retirement System of Texas purchased a new stake in Insulet Co. (NASDAQ:PODD) during the 1st quarter, Holdings Channel reports. The firm purchased 10,006 shares of the medical instruments supplier’s stock, valued at approximately $951,000.
Other hedge funds have also modified their holdings of the company. Norges Bank bought a new position in shares of Insulet in the 4th quarter valued at about $53,604,000. First Trust Advisors LP grew its position in shares of Insulet by 103.6% in the 4th quarter. First Trust Advisors LP now owns 458,028 shares of the medical instruments supplier’s stock valued at $36,331,000 after acquiring an additional 233,075 shares during the period. Standard Life Aberdeen plc bought a new position in shares of Insulet in the 4th quarter valued at about $16,011,000. Teachers Advisors LLC grew its position in shares of Insulet by 105.8% in the 3rd quarter. Teachers Advisors LLC now owns 326,021 shares of the medical instruments supplier’s stock valued at $34,542,000 after acquiring an additional 167,598 shares during the period. Finally, KAMES CAPITAL plc grew its position in shares of Insulet by 22.7% in the 1st quarter. KAMES CAPITAL plc now owns 582,252 shares of the medical instruments supplier’s stock valued at $55,372,000 after acquiring an additional 107,828 shares during the period.
Shares of PODD stock traded up $1.11 during midday trading on Wednesday, hitting $105.85. 2,227 shares of the company were exchanged, compared to its average volume of 719,535. The company has a market capitalization of $6.20 billion, a price-to-earnings ratio of 2,118.50 and a beta of 1.50. The company has a debt-to-equity ratio of 2.68, a quick ratio of 3.71 and a current ratio of 4.36. Insulet Co. has a 52 week low of $70.80 and a 52 week high of $108.90.
Insulet (NASDAQ:PODD) last posted its quarterly earnings data on Thursday, May 2nd. The medical instruments supplier reported $0.07 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.02 by $0.05. The firm had revenue of $159.56 million during the quarter, compared to the consensus estimate of $154.66 million. Insulet had a net margin of 2.37% and a return on equity of 7.01%. The business’s revenue for the quarter was up 29.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.11) EPS. Sell-side analysts forecast that Insulet Co. will post 0.26 EPS for the current year.
Several brokerages recently commented on PODD. BidaskClub raised shares of Insulet from a “hold” rating to a “buy” rating in a report on Thursday, May 9th. Canaccord Genuity reaffirmed a “buy” rating and set a $110.00 target price (up previously from $100.00) on shares of Insulet in a report on Monday, May 6th. BTIG Research raised shares of Insulet from a “neutral” rating to a “buy” rating and set a $115.00 target price for the company in a report on Monday, May 6th. Oppenheimer set a $100.00 target price on shares of Insulet and gave the stock a “hold” rating in a report on Tuesday, February 26th. Finally, Northland Securities reaffirmed a “buy” rating and set a $100.00 target price on shares of Insulet in a report on Tuesday, February 26th. Three research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the stock. The stock has an average rating of “Buy” and an average target price of $105.18.
In other Insulet news, EVP Aiman Abdel-Malek sold 27,349 shares of the business’s stock in a transaction dated Tuesday, March 12th. The shares were sold at an average price of $94.03, for a total value of $2,571,626.47. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director David A. Lemoine sold 8,752 shares of the business’s stock in a transaction dated Thursday, May 16th. The shares were sold at an average price of $106.92, for a total transaction of $935,763.84. Following the completion of the sale, the director now directly owns 9,148 shares of the company’s stock, valued at approximately $978,104.16. The disclosure for this sale can be found here. Insiders sold a total of 92,956 shares of company stock valued at $8,933,406 in the last three months. Insiders own 3.50% of the company’s stock.
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Insulet Corporation develops, manufactures, and sells insulin delivery systems for people with insulin-dependent diabetes in the United States and internationally. The company offers Omnipod Insulin Management System (Omnipod System), which consists of an easy-to-use continuous insulin delivery system; and Personal Diabetes Manager, a handheld wireless device.
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