Cornerstone Advisory LLC Buys Shares of 773 Insulet Corporation $PODD

Key Points

• Cornerstone Advisory LLC initiated a new position in Insulet Corporation (NASDAQ:PODD) by acquiring 773 shares valued at approximately $243,000 during the 2nd quarter of 2023.
• Insulet reported strong earnings with an EPS of $1.17 for the last quarter, surpassing expectations by $0.25, and showing a 32.9% year-over-year revenue increase to $649.10 million.
• Analysts maintain a positive outlook on Insulet, with a consensus rating of "Moderate Buy" and an average price target of $352.11, indicating potential for further growth.

Cornerstone Advisory LLC bought a new position in Insulet Corporation (NASDAQ:PODD - Free Report) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 773 shares of the medical instruments supplier's stock, valued at approximately $243,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. Sequoia Financial Advisors LLC grew its stake in shares of Insulet by 2.3% in the 2nd quarter. Sequoia Financial Advisors LLC now owns 2,017 shares of the medical instruments supplier's stock valued at $634,000 after buying an additional 45 shares in the last quarter. Nissay Asset Management Corp Japan ADV lifted its stake in Insulet by 0.6% in the first quarter. Nissay Asset Management Corp Japan ADV now owns 8,462 shares of the medical instruments supplier's stock valued at $2,222,000 after acquiring an additional 48 shares during the last quarter. Mather Group LLC. lifted its stake in Insulet by 4.4% in the second quarter. Mather Group LLC. now owns 1,147 shares of the medical instruments supplier's stock valued at $360,000 after acquiring an additional 48 shares during the last quarter. Brooklyn Investment Group grew its position in Insulet by 7.0% in the first quarter. Brooklyn Investment Group now owns 795 shares of the medical instruments supplier's stock worth $209,000 after acquiring an additional 52 shares in the last quarter. Finally, Cooper Financial Group increased its stake in shares of Insulet by 5.7% during the 1st quarter. Cooper Financial Group now owns 1,079 shares of the medical instruments supplier's stock worth $283,000 after purchasing an additional 58 shares during the last quarter.

Insulet Price Performance

NASDAQ PODD opened at $323.46 on Friday. The stock has a 50-day simple moving average of $327.61 and a 200 day simple moving average of $303.92. Insulet Corporation has a twelve month low of $226.50 and a twelve month high of $353.50. The stock has a market capitalization of $22.77 billion, a PE ratio of 98.32, a P/E/G ratio of 2.75 and a beta of 1.40. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.81 and a current ratio of 2.26.

Insulet (NASDAQ:PODD - Get Free Report) last released its earnings results on Thursday, August 7th. The medical instruments supplier reported $1.17 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.92 by $0.25. Insulet had a return on equity of 23.78% and a net margin of 10.01%.The firm had revenue of $649.10 million for the quarter, compared to analyst estimates of $612.31 million. During the same quarter last year, the firm posted $0.55 EPS. The company's revenue was up 32.9% on a year-over-year basis. Insulet has set its FY 2025 guidance at EPS. Q3 2025 guidance at EPS. Research analysts anticipate that Insulet Corporation will post 3.92 EPS for the current year.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the stock. Morgan Stanley reaffirmed an "overweight" rating on shares of Insulet in a research note on Thursday, August 7th. Leerink Partners raised their target price on Insulet from $339.00 to $355.00 and gave the company an "outperform" rating in a report on Tuesday, October 14th. Royal Bank Of Canada upped their price target on Insulet from $350.00 to $365.00 and gave the stock an "outperform" rating in a research note on Friday, October 10th. Oppenheimer increased their price objective on Insulet from $324.00 to $365.00 and gave the company an "outperform" rating in a report on Monday, September 8th. Finally, Jefferies Financial Group restated a "buy" rating on shares of Insulet in a report on Thursday, August 7th. One analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and two have assigned a Hold rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $352.11.

Insiders Place Their Bets

In related news, SVP Laetitia Cousin sold 797 shares of the company's stock in a transaction on Monday, September 8th. The shares were sold at an average price of $348.81, for a total transaction of $278,001.57. Following the completion of the transaction, the senior vice president directly owned 3,890 shares in the company, valued at $1,356,870.90. This represents a 17.00% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, SVP Prem Singh sold 687 shares of the firm's stock in a transaction on Monday, September 8th. The stock was sold at an average price of $347.49, for a total transaction of $238,725.63. Following the completion of the sale, the senior vice president owned 3,456 shares in the company, valued at $1,200,925.44. This represents a 16.58% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.39% of the company's stock.

About Insulet

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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