New Mexico Educational Retirement Board Trims Position in Insulet Co. (NASDAQ:PODD)

New Mexico Educational Retirement Board lessened its position in shares of Insulet Co. (NASDAQ:PODD) by 2.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 3,300 shares of the medical instruments supplier’s stock after selling 100 shares during the quarter. New Mexico Educational Retirement Board’s holdings in Insulet were worth $862,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of PODD. Baillie Gifford & Co. increased its position in Insulet by 20.7% in the third quarter. Baillie Gifford & Co. now owns 2,275,701 shares of the medical instruments supplier’s stock worth $529,669,000 after buying an additional 389,639 shares in the last quarter. Mizuho Securities USA LLC increased its position in Insulet by 5,928.1% in the third quarter. Mizuho Securities USA LLC now owns 325,821 shares of the medical instruments supplier’s stock worth $75,835,000 after buying an additional 320,416 shares in the last quarter. Charles Schwab Investment Management Inc. increased its position in Insulet by 43.8% in the third quarter. Charles Schwab Investment Management Inc. now owns 636,265 shares of the medical instruments supplier’s stock worth $148,091,000 after buying an additional 193,839 shares in the last quarter. Westfield Capital Management Co. LP increased its position in Insulet by 27.6% in the third quarter. Westfield Capital Management Co. LP now owns 754,872 shares of the medical instruments supplier’s stock worth $175,697,000 after buying an additional 163,388 shares in the last quarter. Finally, Caisse DE Depot ET Placement DU Quebec purchased a new stake in Insulet in the third quarter worth about $16,342,000.

Insulet Trading Down 0.6 %

Shares of PODD stock opened at $280.56 on Tuesday. Insulet Co. has a 1 year low of $160.19 and a 1 year high of $289.46. The company has a debt-to-equity ratio of 1.21, a current ratio of 3.68 and a quick ratio of 2.80. The stock’s 50 day simple moving average is $272.05 and its two-hundred day simple moving average is $245.32. The company has a market cap of $19.68 billion, a PE ratio of 48.04, a price-to-earnings-growth ratio of 3.61 and a beta of 1.23.

Insider Buying and Selling at Insulet

In other news, EVP Eric Benjamin sold 12,394 shares of the stock in a transaction that occurred on Tuesday, January 21st. The stock was sold at an average price of $280.00, for a total value of $3,470,320.00. Following the sale, the executive vice president now directly owns 11,383 shares in the company, valued at approximately $3,187,240. This represents a 52.13 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CAO Lauren Budden sold 915 shares of the stock in a transaction that occurred on Tuesday, December 10th. The stock was sold at an average price of $275.62, for a total value of $252,192.30. Following the completion of the sale, the chief accounting officer now owns 5,733 shares in the company, valued at approximately $1,580,129.46. The trade was a 13.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.47% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently weighed in on PODD. Wells Fargo & Company upped their price objective on Insulet from $290.00 to $305.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 11th. Canaccord Genuity Group upped their price objective on Insulet from $269.00 to $304.00 and gave the stock a “buy” rating in a research note on Monday, December 9th. BTIG Research upped their price objective on Insulet from $260.00 to $270.00 and gave the stock a “buy” rating in a research note on Friday, November 8th. Morgan Stanley upped their price objective on Insulet from $234.00 to $317.00 and gave the stock an “overweight” rating in a research note on Monday, November 11th. Finally, Sanford C. Bernstein began coverage on Insulet in a research note on Wednesday, November 6th. They issued an “outperform” rating and a $300.00 price objective for the company. Two investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $277.13.

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.