AMI Asset Management Corp Cuts Stake in Insulet Corporation (NASDAQ:PODD)

AMI Asset Management Corp lessened its position in shares of Insulet Corporation (NASDAQ:PODD - Free Report) by 3.5% in the first quarter, according to its most recent filing with the SEC. The firm owned 171,119 shares of the medical instruments supplier's stock after selling 6,219 shares during the quarter. Insulet makes up approximately 2.6% of AMI Asset Management Corp's investment portfolio, making the stock its 15th largest holding. AMI Asset Management Corp owned approximately 0.24% of Insulet worth $44,937,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in PODD. SBI Securities Co. Ltd. acquired a new stake in shares of Insulet during the 4th quarter worth approximately $36,000. Arrowstreet Capital Limited Partnership acquired a new stake in shares of Insulet during the 4th quarter worth approximately $9,822,000. Farther Finance Advisors LLC grew its position in shares of Insulet by 85.1% during the 1st quarter. Farther Finance Advisors LLC now owns 896 shares of the medical instruments supplier's stock worth $236,000 after buying an additional 412 shares during the period. Exchange Traded Concepts LLC grew its position in shares of Insulet by 225.4% during the 1st quarter. Exchange Traded Concepts LLC now owns 1,552 shares of the medical instruments supplier's stock worth $408,000 after buying an additional 1,075 shares during the period. Finally, QRG Capital Management Inc. grew its position in shares of Insulet by 75.6% during the 1st quarter. QRG Capital Management Inc. now owns 2,030 shares of the medical instruments supplier's stock worth $533,000 after buying an additional 874 shares during the period.

Analyst Upgrades and Downgrades

PODD has been the subject of several recent analyst reports. Wolfe Research raised shares of Insulet from a "peer perform" rating to an "outperform" rating and set a $350.00 price objective for the company in a research report on Tuesday, May 13th. Wall Street Zen cut Insulet from a "buy" rating to a "hold" rating in a report on Saturday, June 14th. Wells Fargo & Company set a $322.00 target price on Insulet in a report on Monday, April 28th. Sanford C. Bernstein restated an "outperform" rating on shares of Insulet in a research note on Friday, May 16th. Finally, Oppenheimer raised their price objective on Insulet from $312.00 to $324.00 and gave the company an "outperform" rating in a research note on Friday, May 9th. Four analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. Based on data from MarketBeat, Insulet currently has an average rating of "Moderate Buy" and a consensus target price of $321.00.

Insider Activity

In related news, SVP John W. Kapples sold 5,278 shares of the company's stock in a transaction on Wednesday, May 14th. The stock was sold at an average price of $318.47, for a total value of $1,680,884.66. Following the sale, the senior vice president now directly owns 23,180 shares of the company's stock, valued at $7,382,134.60. This represents a 18.55% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 0.39% of the company's stock.

Insulet Price Performance

NASDAQ:PODD traded up $3.25 during mid-day trading on Friday, reaching $313.08. The stock had a trading volume of 760,290 shares, compared to its average volume of 714,720. The firm has a 50 day moving average price of $297.69 and a two-hundred day moving average price of $277.62. The stock has a market capitalization of $22.03 billion, a P/E ratio of 56.31, a P/E/G ratio of 2.77 and a beta of 1.37. Insulet Corporation has a one year low of $173.00 and a one year high of $329.33. The company has a debt-to-equity ratio of 1.21, a quick ratio of 3.63 and a current ratio of 4.47.

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

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.