State of New Jersey Common Pension Fund D Has $5.92 Million Position in Insulet Co. (NASDAQ:PODD)

State of New Jersey Common Pension Fund D increased its stake in shares of Insulet Co. (NASDAQ:PODD) by 2.5% during the third quarter, HoldingsChannel reports. The fund owned 25,434 shares of the medical instruments supplier’s stock after buying an additional 621 shares during the period. State of New Jersey Common Pension Fund D’s holdings in Insulet were worth $5,920,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of PODD. Janney Montgomery Scott LLC grew its stake in shares of Insulet by 34.4% in the first quarter. Janney Montgomery Scott LLC now owns 10,060 shares of the medical instruments supplier’s stock valued at $1,724,000 after buying an additional 2,573 shares in the last quarter. Sei Investments Co. grew its position 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 valued at $2,019,000 after acquiring an additional 1,639 shares during the period. Inspire Investing LLC increased its stake in shares of Insulet by 26.0% during the 1st quarter. Inspire Investing LLC now owns 2,581 shares of the medical instruments supplier’s stock worth $442,000 after purchasing an additional 533 shares during the last quarter. Headlands Technologies LLC raised its holdings in shares of Insulet by 373.9% in the 1st quarter. Headlands Technologies LLC now owns 1,872 shares of the medical instruments supplier’s stock valued at $321,000 after purchasing an additional 1,477 shares during the period. Finally, State Board of Administration of Florida Retirement System grew its holdings in Insulet by 3.8% during the first quarter. State Board of Administration of Florida Retirement System now owns 78,435 shares of the medical instruments supplier’s stock worth $13,444,000 after purchasing an additional 2,847 shares during the period.

Analysts Set New Price Targets

PODD has been the subject of several analyst reports. Piper Sandler boosted their price objective on shares of Insulet from $230.00 to $285.00 and gave the company an “overweight” rating in a report on Tuesday, September 17th. Citigroup raised their price objective on Insulet from $250.00 to $275.00 and gave the stock a “buy” rating in a research note on Tuesday, October 1st. UBS Group increased their target price on Insulet from $211.00 to $223.00 and gave the stock a “neutral” rating in a report on Friday, August 9th. Raymond James raised their price target on Insulet from $213.00 to $260.00 and gave the stock an “outperform” rating in a research report on Monday, October 14th. Finally, Sanford C. Bernstein started coverage on shares of Insulet in a research note on Wednesday, November 6th. They set an “outperform” rating and a $300.00 target price on the stock. Three equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $253.27.

Insulet Stock Performance

Shares of PODD opened at $275.70 on Tuesday. The firm’s fifty day simple moving average is $233.46 and its two-hundred day simple moving average is $205.26. Insulet Co. has a 12 month low of $156.00 and a 12 month high of $279.40. The company has a current ratio of 3.60, a quick ratio of 2.71 and a debt-to-equity ratio of 1.36. The stock has a market capitalization of $19.33 billion, a P/E ratio of 47.21, a price-to-earnings-growth ratio of 5.00 and a beta of 1.22.

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.