State of Alaska Department of Revenue Raises Stake in Insulet Co. (NASDAQ:PODD)

State of Alaska Department of Revenue grew its holdings in shares of Insulet Co. (NASDAQ:PODD) by 7.3% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 8,122 shares of the medical instruments supplier’s stock after acquiring an additional 550 shares during the quarter. State of Alaska Department of Revenue’s holdings in Insulet were worth $1,890,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in PODD. Blue Trust Inc. grew its holdings in shares of Insulet by 84.1% during the 3rd quarter. Blue Trust Inc. now owns 127 shares of the medical instruments supplier’s stock valued at $30,000 after purchasing an additional 58 shares during the last quarter. International Assets Investment Management LLC purchased a new stake in Insulet during the second quarter valued at about $32,000. UMB Bank n.a. grew its stake in shares of Insulet by 81.0% during the second quarter. UMB Bank n.a. now owns 181 shares of the medical instruments supplier’s stock valued at $37,000 after buying an additional 81 shares during the last quarter. CVA Family Office LLC increased its holdings in shares of Insulet by 138.1% in the second quarter. CVA Family Office LLC now owns 250 shares of the medical instruments supplier’s stock worth $50,000 after buying an additional 145 shares during the period. Finally, Massmutual Trust Co. FSB ADV lifted its stake in shares of Insulet by 159.2% in the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 254 shares of the medical instruments supplier’s stock valued at $51,000 after acquiring an additional 156 shares during the last quarter.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on PODD shares. BTIG Research raised their price target on Insulet from $250.00 to $260.00 and gave the stock a “buy” rating in a research report on Monday, October 14th. Piper Sandler increased their price objective on Insulet from $230.00 to $285.00 and gave the company an “overweight” rating in a research note on Tuesday, September 17th. UBS Group lifted their target price on shares of Insulet from $211.00 to $223.00 and gave the stock a “neutral” rating in a research note on Friday, August 9th. Raymond James increased their price target on shares of Insulet from $213.00 to $260.00 and gave the company an “outperform” rating in a research report on Monday, October 14th. Finally, Citigroup boosted their price objective on shares of Insulet from $250.00 to $275.00 and gave the company a “buy” rating in a research report on Tuesday, October 1st. Three equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $242.29.

Insulet Price Performance

PODD stock opened at $235.61 on Friday. The firm has a 50-day moving average of $227.10 and a 200 day moving average of $201.20. The company has a debt-to-equity ratio of 1.36, a current ratio of 3.60 and a quick ratio of 2.71. The company has a market cap of $16.52 billion, a P/E ratio of 42.84, a PEG ratio of 4.30 and a beta of 1.21. Insulet Co. has a 1 year low of $137.68 and a 1 year high of $243.98.

Insulet (NASDAQ:PODD) last released its earnings results on Thursday, August 8th. The medical instruments supplier reported $0.55 EPS for the quarter, missing analysts’ consensus estimates of $0.56 by ($0.01). The firm had revenue of $488.50 million during the quarter, compared to analysts’ expectations of $488.00 million. Insulet had a net margin of 21.11% and a return on equity of 30.73%. The company’s revenue for the quarter was up 23.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.38 EPS. On average, sell-side analysts forecast that Insulet Co. will post 3.04 EPS for the current year.

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.