California Public Employees Retirement System boosted its position in Insulet Co. (NASDAQ:PODD) by 9.2% in the third quarter, HoldingsChannel.com reports. The firm owned 71,744 shares of the medical instruments supplier’s stock after acquiring an additional 6,044 shares during the quarter. California Public Employees Retirement System’s holdings in Insulet were worth $3,952,000 as of its most recent filing with the Securities & Exchange Commission.
Other large investors have also recently made changes to their positions in the company. Janney Montgomery Scott LLC acquired a new stake in shares of Insulet during the 3rd quarter valued at approximately $3,229,000. Cubist Systematic Strategies LLC acquired a new stake in shares of Insulet during the 3rd quarter valued at approximately $406,000. Point72 Asset Management L.P. acquired a new stake in shares of Insulet during the 3rd quarter valued at approximately $33,373,000. Jane Street Group LLC lifted its position in shares of Insulet by 205.5% during the 3rd quarter. Jane Street Group LLC now owns 15,125 shares of the medical instruments supplier’s stock valued at $833,000 after acquiring an additional 10,174 shares during the period. Finally, Schwab Charles Investment Management Inc. lifted its position in shares of Insulet by 5.3% during the 3rd quarter. Schwab Charles Investment Management Inc. now owns 265,941 shares of the medical instruments supplier’s stock valued at $14,649,000 after acquiring an additional 13,271 shares during the period.
PODD has been the subject of a number of research reports. Barclays initiated coverage on shares of Insulet in a research report on Friday, September 15th. They set an “overweight” rating and a $65.00 price target for the company. Canaccord Genuity reiterated a “hold” rating and set a $50.00 price target on shares of Insulet in a research report on Wednesday, September 27th. Zacks Investment Research downgraded shares of Insulet from a “hold” rating to a “sell” rating in a research report on Thursday, October 5th. Wedbush reiterated a “buy” rating and set a $65.00 price target (up from $60.00) on shares of Insulet in a research report on Tuesday, October 10th. Finally, Leerink Swann reiterated an “outperform” rating and set a $74.00 price target (up from $65.00) on shares of Insulet in a research report on Thursday, October 12th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and twelve have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus target price of $62.53.
Insulet (NASDAQ:PODD) last issued its quarterly earnings data on Thursday, November 2nd. The medical instruments supplier reported ($0.04) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.10) by $0.06. Insulet had a negative return on equity of 43.85% and a negative net margin of 6.66%. The firm had revenue of $121.80 million during the quarter, compared to the consensus estimate of $114.02 million. During the same period in the previous year, the firm posted ($0.05) EPS. The company’s quarterly revenue was up 28.4% compared to the same quarter last year. analysts predict that Insulet Co. will post -0.43 earnings per share for the current fiscal year.
In related news, Director James C. Mullen acquired 2,500 shares of the business’s stock in a transaction that occurred on Monday, November 13th. The stock was purchased at an average cost of $67.45 per share, for a total transaction of $168,625.00. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 2.60% of the company’s stock.
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Insulet Company Profile
Insulet Corporation is engaged in the development, manufacturing and sale of the OmniPod Insulin Management System (the OmniPod System), an insulin delivery system for people with insulin-dependent diabetes. The Omnipod System features a self-adhesive disposable tubeless Omnipod device, which is worn on the body for approximately three days at a time and its wireless companion, the handheld Personal Diabetes Manager (PDM).
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