Alberta Investment Management Corp Purchases 4,900 Shares of Insulet Corporation (NASDAQ:PODD)

Key Points

• Alberta Investment Management Corp increased its stake in Insulet Corporation by 144.1%, acquiring an additional 4,900 shares, bringing its total holdings to 8,300 shares valued at approximately $2.18 million.
• Insulet's quarterly earnings showed a strong performance, reporting $1.02 EPS and revenue of $569 million, surpassing analysts' expectations.
• Research analysts continue to view Insulet favorably, with four ratings at hold and fifteen at buy, reflecting a strong market sentiment and a target price averaging $321.00.

Alberta Investment Management Corp grew its position in Insulet Corporation (NASDAQ:PODD - Free Report) by 144.1% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 8,300 shares of the medical instruments supplier's stock after acquiring an additional 4,900 shares during the period. Alberta Investment Management Corp's holdings in Insulet were worth $2,180,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of PODD. Arrowstreet Capital Limited Partnership acquired a new stake in Insulet during the 4th quarter worth $9,822,000. O Shaughnessy Asset Management LLC grew its holdings in Insulet by 43.7% during the 4th quarter. O Shaughnessy Asset Management LLC now owns 5,291 shares of the medical instruments supplier's stock worth $1,381,000 after acquiring an additional 1,610 shares during the period. Huntington National Bank grew its holdings in Insulet by 27.6% during the 4th quarter. Huntington National Bank now owns 907 shares of the medical instruments supplier's stock worth $237,000 after acquiring an additional 196 shares during the period. Resona Asset Management Co. Ltd. acquired a new stake in Insulet during the 4th quarter worth $6,469,000. Finally, Aviva PLC grew its holdings in Insulet by 164.5% during the 4th quarter. Aviva PLC now owns 42,276 shares of the medical instruments supplier's stock worth $11,037,000 after acquiring an additional 26,294 shares during the period.

Insulet Trading Down 1.2%

PODD opened at $284.91 on Monday. The stock has a market capitalization of $20.05 billion, a P/E ratio of 51.24, a P/E/G ratio of 2.54 and a beta of 1.35. Insulet Corporation has a 12 month low of $173.00 and a 12 month high of $329.33. The firm's fifty day simple moving average is $302.39 and its 200 day simple moving average is $282.56. The company has a current ratio of 4.47, a quick ratio of 3.63 and a debt-to-equity ratio of 1.21.

Insulet (NASDAQ:PODD - Get Free Report) last posted its quarterly earnings data on Thursday, May 8th. The medical instruments supplier reported $1.02 EPS for the quarter, beating the consensus estimate of $0.81 by $0.21. The business had revenue of $569.00 million for the quarter, compared to analysts' expectations of $543.20 million. Insulet had a net margin of 18.29% and a return on equity of 22.25%. The firm's revenue was up 28.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.73 EPS. As a group, research analysts anticipate that Insulet Corporation will post 3.92 EPS for the current fiscal year.

Insider Buying and Selling

In related news, SVP John W. Kapples sold 5,278 shares of the business's stock in a transaction on Wednesday, May 14th. The shares were sold at an average price of $318.47, for a total value of $1,680,884.66. Following the sale, the senior vice president directly owned 23,180 shares of the company's stock, valued at approximately $7,382,134.60. The trade was a 18.55% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.39% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms have commented on PODD. Wolfe Research raised shares of Insulet from a "peer perform" rating to an "outperform" rating and set a $350.00 target price for the company in a report on Tuesday, May 13th. Sanford C. Bernstein reaffirmed an "outperform" rating on shares of Insulet in a report on Friday, May 16th. Wall Street Zen lowered shares of Insulet from a "buy" rating to a "hold" rating in a report on Saturday, June 14th. Truist Financial assumed coverage on shares of Insulet in a report on Monday, June 16th. They issued a "buy" rating and a $365.00 price target for the company. Finally, Oppenheimer boosted their price target on shares of Insulet from $312.00 to $324.00 and gave the company an "outperform" rating in a report on Friday, May 9th. Four equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $321.00.

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.

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