Kentucky Retirement Systems Insurance Trust Fund Lowers Position in Insulet Co. (NASDAQ:PODD)

Kentucky Retirement Systems Insurance Trust Fund decreased its stake in shares of Insulet Co. (NASDAQ:PODD) by 8.1% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,076 shares of the medical instruments supplier’s stock after selling 183 shares during the period. Kentucky Retirement Systems Insurance Trust Fund’s holdings in Insulet were worth $483,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. Sei Investments Co. grew its stake in shares of Insulet by 16.2% in the 1st quarter. Sei Investments Co. now owns 11,782 shares of the medical instruments supplier’s stock worth $2,019,000 after acquiring an additional 1,639 shares in the last quarter. Intech Investment Management LLC grew its position in Insulet by 113.8% in the 1st quarter. Intech Investment Management LLC now owns 6,649 shares of the medical instruments supplier’s stock worth $1,140,000 after purchasing an additional 3,539 shares in the last quarter. Vanguard Group Inc. grew its position in Insulet by 2.1% in the 1st quarter. Vanguard Group Inc. now owns 8,199,114 shares of the medical instruments supplier’s stock worth $1,405,328,000 after purchasing an additional 169,506 shares in the last quarter. Edgestream Partners L.P. increased its stake in Insulet by 37.6% in the 1st quarter. Edgestream Partners L.P. now owns 5,831 shares of the medical instruments supplier’s stock valued at $999,000 after buying an additional 1,593 shares during the last quarter. Finally, Seven Eight Capital LP bought a new position in shares of Insulet during the 1st quarter worth approximately $1,418,000.

Insulet Stock Performance

Shares of PODD opened at $260.68 on Tuesday. The company has a debt-to-equity ratio of 1.21, a quick ratio of 2.80 and a current ratio of 3.68. The stock has a market capitalization of $18.28 billion, a price-to-earnings ratio of 44.64, a price-to-earnings-growth ratio of 3.98 and a beta of 1.22. Insulet Co. has a 52-week low of $160.19 and a 52-week high of $279.40. The stock’s 50-day simple moving average is $238.60 and its 200 day simple moving average is $208.60.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the company. Citigroup upped their target price on Insulet from $250.00 to $275.00 and gave the company a “buy” rating in a report on Tuesday, October 1st. BTIG Research upped their price objective on Insulet from $260.00 to $270.00 and gave the company a “buy” rating in a research note on Friday, November 8th. Sanford C. Bernstein began coverage on Insulet in a research note on Wednesday, November 6th. They set an “outperform” rating and a $300.00 target price on the stock. Piper Sandler increased their price target on shares of Insulet from $230.00 to $285.00 and gave the company an “overweight” rating in a research report on Tuesday, September 17th. Finally, Raymond James lifted their price objective on shares of Insulet from $213.00 to $260.00 and gave the stock an “outperform” rating in a research report on Monday, October 14th. Three research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat.com, Insulet currently has a consensus rating of “Moderate Buy” and an average price target of $253.27.

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.