Cambridge Investment Research Advisors Inc. Sells 1,017 Shares of Insulet Corporation (NASDAQ:PODD)

Cambridge Investment Research Advisors Inc. reduced its stake in shares of Insulet Corporation (NASDAQ:PODD - Free Report) by 46.2% in the first quarter, according to its most recent filing with the SEC. The institutional investor owned 1,183 shares of the medical instruments supplier's stock after selling 1,017 shares during the period. Cambridge Investment Research Advisors Inc.'s holdings in Insulet were worth $311,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Horizon Investments LLC increased its holdings in Insulet by 3.1% during the 4th quarter. Horizon Investments LLC now owns 1,387 shares of the medical instruments supplier's stock worth $362,000 after purchasing an additional 42 shares in the last quarter. Envestnet Portfolio Solutions Inc. grew its holdings in shares of Insulet by 2.3% in the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 2,113 shares of the medical instruments supplier's stock valued at $552,000 after acquiring an additional 48 shares in the last quarter. Sequoia Financial Advisors LLC grew its holdings in shares of Insulet by 2.4% in the fourth quarter. Sequoia Financial Advisors LLC now owns 2,170 shares of the medical instruments supplier's stock valued at $566,000 after acquiring an additional 50 shares in the last quarter. Steward Partners Investment Advisory LLC grew its holdings in shares of Insulet by 5.0% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 1,050 shares of the medical instruments supplier's stock valued at $274,000 after acquiring an additional 50 shares in the last quarter. Finally, Quadrant Capital Group LLC grew its holdings in shares of Insulet by 4.9% in the fourth quarter. Quadrant Capital Group LLC now owns 1,092 shares of the medical instruments supplier's stock valued at $285,000 after acquiring an additional 51 shares in the last quarter.

Wall Street Analyst Weigh In

Several equities analysts recently commented on PODD shares. Truist Financial started coverage on Insulet in a research note on Monday, June 16th. They issued a "buy" rating and a $365.00 price objective on the stock. Barclays upped their price objective on Insulet from $234.00 to $266.00 and gave the company an "equal weight" rating in a research note on Wednesday, April 30th. Wall Street Zen downgraded Insulet from a "buy" rating to a "hold" rating in a research note on Saturday, June 14th. Wells Fargo & Company set a $322.00 price objective on Insulet in a research note on Monday, April 28th. Finally, Citigroup reiterated a "buy" rating on shares of Insulet in a research note on Tuesday, July 8th. Four investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company's stock. According to MarketBeat, Insulet has a consensus rating of "Moderate Buy" and a consensus target price of $321.00.

Insulet Price Performance

Shares of PODD stock traded down $8.08 on Friday, reaching $289.32. The company's stock had a trading volume of 507,503 shares, compared to its average volume of 721,324. The company has a quick ratio of 3.63, a current ratio of 4.47 and a debt-to-equity ratio of 1.21. Insulet Corporation has a 12-month low of $173.00 and a 12-month high of $329.33. The company has a market capitalization of $20.36 billion, a P/E ratio of 52.04, a PEG ratio of 2.58 and a beta of 1.35. The stock's 50 day simple moving average is $307.29 and its 200-day simple moving average is $280.15.

Insulet (NASDAQ:PODD - Get Free Report) last released its earnings results on Thursday, May 8th. The medical instruments supplier reported $1.02 EPS for the quarter, beating analysts' consensus estimates 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 return on equity of 22.25% and a net margin of 18.29%. The firm's revenue was up 28.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.73 earnings per share. As a group, equities analysts predict that Insulet Corporation will post 3.92 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, SVP John W. Kapples sold 5,278 shares of the 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 transaction, the senior vice president owned 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.39% of the stock is currently owned by corporate insiders.

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.