AMI Asset Management Corp Trims Position in Insulet Corporation (NASDAQ:PODD)

AMI Asset Management Corp lowered its stake in shares of Insulet Corporation (NASDAQ:PODD - Free Report) by 3.5% in the first quarter, according to its most recent 13F filing with the SEC. The firm owned 171,119 shares of the medical instruments supplier's stock after selling 6,219 shares during the period. Insulet makes up approximately 2.6% of AMI Asset Management Corp's investment portfolio, making the stock its 15th largest position. AMI Asset Management Corp owned 0.24% of Insulet worth $44,937,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. SBI Securities Co. Ltd. purchased a new position in shares of Insulet during the 4th quarter worth approximately $36,000. Itau Unibanco Holding S.A. purchased a new position in Insulet in the 4th quarter valued at approximately $42,000. SRS Capital Advisors Inc. boosted its position in Insulet by 43.1% in the 4th quarter. SRS Capital Advisors Inc. now owns 186 shares of the medical instruments supplier's stock valued at $49,000 after buying an additional 56 shares during the period. Golden State Wealth Management LLC boosted its position in Insulet by 553.1% in the 1st quarter. Golden State Wealth Management LLC now owns 209 shares of the medical instruments supplier's stock valued at $55,000 after buying an additional 177 shares during the period. Finally, Assetmark Inc. boosted its position in Insulet by 1,447.1% in the 4th quarter. Assetmark Inc. now owns 263 shares of the medical instruments supplier's stock valued at $69,000 after buying an additional 246 shares during the period.

Insider Buying and Selling at Insulet

In other Insulet news, SVP John W. Kapples sold 5,278 shares of the company'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 completion of the transaction, the senior vice president now owns 23,180 shares in the company, valued at $7,382,134.60. This represents a 18.55% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.39% of the stock is currently owned by insiders.

Insulet Stock Performance

NASDAQ PODD traded up $3.25 during trading hours on Friday, hitting $313.08. The company had a trading volume of 760,290 shares, compared to its average volume of 713,879. 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 Corporation has a 1-year low of $173.00 and a 1-year high of $329.33. The company has a market cap of $22.03 billion, a PE ratio of 56.31, a price-to-earnings-growth ratio of 2.79 and a beta of 1.37. The business has a 50 day moving average of $297.69 and a 200-day moving average of $277.69.

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 the consensus estimate of $0.81 by $0.21. Insulet had a net margin of 18.29% and a return on equity of 22.25%. The company had revenue of $569.00 million during the quarter, compared to the consensus estimate of $543.20 million. During the same quarter in the prior year, the firm posted $0.73 earnings per share. Insulet's revenue for the quarter was up 28.8% on a year-over-year basis. As a group, equities research analysts expect that Insulet Corporation will post 3.92 EPS for the current year.

Wall Street Analysts Forecast Growth

Several brokerages have commented on PODD. Oppenheimer raised their price target on shares of Insulet from $312.00 to $324.00 and gave the company an "outperform" rating in a research report on Friday, May 9th. Wells Fargo & Company set a $322.00 price target on shares of Insulet in a research report on Monday, April 28th. Barclays raised their price target on shares of Insulet from $234.00 to $266.00 and gave the company an "equal weight" rating in a research report on Wednesday, April 30th. Sanford C. Bernstein reissued an "outperform" rating on shares of Insulet in a research report on Friday, May 16th. Finally, The Goldman Sachs Group started coverage on shares of Insulet in a report on Friday, May 30th. They issued a "buy" rating and a $380.00 price objective on the stock. Four equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price 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.