Cornerstone Advisory LLC Takes $238,000 Position in Insulet Co. (NASDAQ:PODD)

Cornerstone Advisory LLC purchased a new position in shares of Insulet Co. (NASDAQ:PODD - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 847 shares of the medical instruments supplier's stock, valued at approximately $238,000.

Several other hedge funds have also recently bought and sold shares of the company. SBI Securities Co. Ltd. acquired a new position in shares of Insulet during the 4th quarter worth approximately $36,000. Itau Unibanco Holding S.A. purchased a new stake in shares of Insulet during the 4th quarter valued at $42,000. SRS Capital Advisors Inc. raised its position in shares of Insulet by 43.1% in the 4th quarter. SRS Capital Advisors Inc. now owns 186 shares of the medical instruments supplier's stock worth $49,000 after buying an additional 56 shares during the period. Assetmark Inc. increased its position in shares of Insulet by 1,447.1% in the fourth quarter. Assetmark Inc. now owns 263 shares of the medical instruments supplier's stock worth $69,000 after acquiring an additional 246 shares in the last quarter. Finally, Blue Trust Inc. lifted its position in shares of Insulet by 117.3% during the fourth quarter. Blue Trust Inc. now owns 276 shares of the medical instruments supplier's stock worth $72,000 after purchasing an additional 149 shares in the last quarter.

Insider Activity at Insulet

In other Insulet news, SVP John W. Kapples sold 5,278 shares of Insulet stock in a transaction dated Wednesday, May 14th. The stock was sold at an average price of $318.47, for a total transaction of $1,680,884.66. Following the completion of the transaction, the senior vice president now owns 23,180 shares in the company, valued at approximately $7,382,134.60. The trade was a 18.55% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Wayne A.I. Frederick sold 1,825 shares of the stock in a transaction dated Tuesday, March 25th. The shares were sold at an average price of $275.00, for a total transaction of $501,875.00. Following the completion of the sale, the director now owns 3,231 shares of the company's stock, valued at approximately $888,525. This represents a 36.10% decrease in their position. The disclosure for this sale can be found here. 0.39% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

PODD has been the topic of a number of research reports. Citigroup reissued a "buy" rating and set a $380.00 target price (up from $320.00) on shares of Insulet in a report on Thursday, May 22nd. Stifel Nicolaus boosted their target price on shares of Insulet from $245.00 to $293.00 and gave the company a "hold" rating in a research note on Friday, February 21st. Royal Bank of Canada started coverage on shares of Insulet in a research note on Thursday, March 6th. They issued an "outperform" rating and a $340.00 price target on the stock. Wall Street Zen cut Insulet from a "buy" rating to a "hold" rating in a research report on Thursday, May 22nd. Finally, Sanford C. Bernstein reissued an "outperform" rating on shares of Insulet in a research note on Friday, May 16th. Four investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $309.88.

Insulet Stock Down 0.7%

NASDAQ:PODD traded down $2.36 during trading hours on Wednesday, reaching $324.29. 170,516 shares of the stock were exchanged, compared to its average volume of 706,653. The firm has a 50 day moving average of $273.47 and a 200 day moving average of $270.65. The company has a debt-to-equity ratio of 1.21, a current ratio of 3.68 and a quick ratio of 2.80. Insulet Co. has a twelve month low of $171.61 and a twelve month high of $333.24. The stock has a market cap of $22.82 billion, a PE ratio of 55.97, a PEG ratio of 3.62 and a beta of 1.26.

Insulet (NASDAQ:PODD - Get Free Report) last released its quarterly earnings data on Thursday, May 8th. The medical instruments supplier reported $1.02 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.81 by $0.21. Insulet had a return on equity of 24.46% and a net margin of 20.19%. The company had revenue of $569.00 million during the quarter, compared to analysts' expectations of $543.20 million. During the same period last year, the firm posted $0.73 earnings per share. The business's revenue was up 28.8% on a year-over-year basis. On average, equities analysts expect that Insulet Co. will post 3.92 earnings per share for the current year.

Insulet 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.