OMERS ADMINISTRATION Corp Sells 4,402 Shares of Insulet Co. (NASDAQ:PODD)

OMERS ADMINISTRATION Corp reduced its stake in Insulet Co. (NASDAQ:PODD) by 34.3% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 8,429 shares of the medical instruments supplier’s stock after selling 4,402 shares during the period. OMERS ADMINISTRATION Corp’s holdings in Insulet were worth $2,201,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Baillie Gifford & Co. boosted its holdings in Insulet by 3.5% during the fourth quarter. Baillie Gifford & Co. now owns 2,355,683 shares of the medical instruments supplier’s stock worth $614,998,000 after buying an additional 79,982 shares during the last quarter. Geode Capital Management LLC boosted its stake in Insulet by 2.3% during the 4th quarter. Geode Capital Management LLC now owns 1,779,167 shares of the medical instruments supplier’s stock worth $463,347,000 after acquiring an additional 40,566 shares during the last quarter. Norges Bank bought a new position in Insulet during the 4th quarter worth approximately $248,806,000. Artisan Partners Limited Partnership boosted its stake in Insulet by 24.1% during the 4th quarter. Artisan Partners Limited Partnership now owns 770,188 shares of the medical instruments supplier’s stock worth $201,073,000 after acquiring an additional 149,524 shares during the last quarter. Finally, Northern Trust Corp grew its holdings in Insulet by 20.5% during the fourth quarter. Northern Trust Corp now owns 738,811 shares of the medical instruments supplier’s stock valued at $192,881,000 after purchasing an additional 125,710 shares during the period.

Insulet Stock Up 2.2%

Shares of PODD stock opened at $321.41 on Thursday. The firm’s fifty day moving average price is $260.85 and its two-hundred day moving average price is $265.20. The company has a current ratio of 3.68, a quick ratio of 2.80 and a debt-to-equity ratio of 1.21. Insulet Co. has a 1 year low of $170.67 and a 1 year high of $323.00. The firm has a market capitalization of $22.62 billion, a P/E ratio of 55.51, a PEG ratio of 3.62 and a beta of 1.26.

Insulet (NASDAQ:PODD) last announced its quarterly earnings data on Thursday, May 8th. The medical instruments supplier reported $1.02 earnings per share for the quarter, beating the consensus estimate of $0.81 by $0.21. Insulet had a return on equity of 24.46% and a net margin of 20.19%. The company had revenue of $569.00 million during the quarter, compared to analysts’ expectations of $543.20 million. During the same quarter last year, the company earned $0.73 EPS. Insulet’s revenue for the quarter was up 28.8% compared to the same quarter last year. On average, equities analysts predict that Insulet Co. will post 3.92 EPS for the current fiscal year.

Analysts Set New Price Targets

PODD has been the subject of several research analyst reports. Raymond James reissued an “outperform” rating and issued a $328.00 price target (up previously from $294.00) on shares of Insulet in a report on Friday, February 21st. Wolfe Research raised Insulet from a “peer perform” rating to an “outperform” rating and set a $350.00 target price for the company in a research note on Tuesday. Barclays raised their price target on Insulet from $234.00 to $266.00 and gave the stock an “equal weight” rating in a research report on Wednesday, April 30th. StockNews.com lowered Insulet from a “buy” rating to a “hold” rating in a research report on Tuesday, March 4th. Finally, Citigroup raised their target price on shares of Insulet from $310.00 to $355.00 and gave the stock a “buy” rating in a report on Friday, February 21st. Four analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $306.53.

Insiders Place Their Bets

In other news, Director Wayne A.I. Frederick sold 1,825 shares of Insulet stock in a transaction dated Tuesday, March 25th. The shares were sold at an average price of $275.00, for a total value of $501,875.00. Following the completion of the transaction, the director now owns 3,231 shares of the company’s stock, valued at $888,525. This trade represents a 36.10% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 0.47% of the company’s stock.

Insulet Company Profile

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.