California State Teachers Retirement System Decreases Position in Insulet Co. (PODD)

California State Teachers Retirement System cut its holdings in shares of Insulet Co. (NASDAQ:PODD) by 3.4% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 88,558 shares of the medical instruments supplier’s stock after selling 3,104 shares during the period. California State Teachers Retirement System owned about 0.15% of Insulet worth $7,676,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. California Public Employees Retirement System lifted its position in Insulet by 2.0% during the fourth quarter. California Public Employees Retirement System now owns 73,155 shares of the medical instruments supplier’s stock valued at $5,048,000 after purchasing an additional 1,411 shares during the period. SG Americas Securities LLC lifted its position in Insulet by 63.6% during the first quarter. SG Americas Securities LLC now owns 3,837 shares of the medical instruments supplier’s stock valued at $333,000 after purchasing an additional 1,492 shares during the period. Principal Financial Group Inc. lifted its position in Insulet by 5.8% during the first quarter. Principal Financial Group Inc. now owns 37,618 shares of the medical instruments supplier’s stock valued at $3,261,000 after purchasing an additional 2,076 shares during the period. Swiss National Bank lifted its position in Insulet by 2.2% during the first quarter. Swiss National Bank now owns 101,100 shares of the medical instruments supplier’s stock valued at $8,763,000 after purchasing an additional 2,200 shares during the period. Finally, First Republic Investment Management Inc. acquired a new position in Insulet during the first quarter valued at $209,000.

In related news, SVP Michael P. Spears sold 7,496 shares of the company’s stock in a transaction dated Wednesday, June 13th. The shares were sold at an average price of $100.00, for a total transaction of $749,600.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Shacey Petrovic sold 1,067 shares of the company’s stock in a transaction dated Friday, June 1st. The stock was sold at an average price of $94.72, for a total transaction of $101,066.24. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 42,277 shares of company stock valued at $3,875,186. Insiders own 3.60% of the company’s stock.

Shares of Insulet stock opened at $85.70 on Friday. Insulet Co. has a fifty-two week low of $48.82 and a fifty-two week high of $102.89. The company has a debt-to-equity ratio of 3.34, a current ratio of 5.48 and a quick ratio of 5.16. The stock has a market capitalization of $5.09 billion, a price-to-earnings ratio of -186.30 and a beta of 1.37.

Insulet (NASDAQ:PODD) last released its quarterly earnings results on Thursday, May 3rd. The medical instruments supplier reported ($0.11) earnings per share for the quarter, topping the consensus estimate of ($0.19) by $0.08. Insulet had a negative net margin of 4.82% and a negative return on equity of 20.02%. The firm had revenue of $123.60 million during the quarter, compared to the consensus estimate of $121.76 million. During the same quarter in the prior year, the firm earned ($0.17) EPS. The company’s revenue for the quarter was up 21.5% on a year-over-year basis. sell-side analysts predict that Insulet Co. will post -0.18 earnings per share for the current year.

A number of research analysts recently issued reports on the stock. ValuEngine upgraded shares of Insulet from a “hold” rating to a “buy” rating in a research report on Monday, April 2nd. Zacks Investment Research downgraded shares of Insulet from a “buy” rating to a “hold” rating in a research report on Wednesday, May 9th. Canaccord Genuity upped their price objective on shares of Insulet from $96.00 to $100.00 and gave the stock a “buy” rating in a research report on Wednesday, May 23rd. Oppenheimer set a $90.00 price objective on shares of Insulet and gave the stock a “hold” rating in a research report on Friday, May 4th. Finally, BidaskClub upgraded shares of Insulet from a “hold” rating to a “buy” rating in a research report on Friday, March 9th. Five analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $90.18.

Insulet Company Profile

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.

Institutional Ownership by Quarter for Insulet (NASDAQ:PODD)

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