Insulet Corporation (NASDAQ:PODD) Shares Sold by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. cut its position in shares of Insulet Corporation (NASDAQ:PODD - Free Report) by 21.4% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 148,163 shares of the medical instruments supplier's stock after selling 40,369 shares during the quarter. Envestnet Asset Management Inc. owned 0.21% of Insulet worth $38,909,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently bought and sold shares of the company. Itau Unibanco Holding S.A. purchased a new stake in shares of Insulet in the 4th quarter worth about $42,000. Golden State Wealth Management LLC raised its position in Insulet by 553.1% during the first quarter. Golden State Wealth Management LLC now owns 209 shares of the medical instruments supplier's stock worth $55,000 after acquiring an additional 177 shares during the last quarter. Assetmark Inc. increased its stake in shares of Insulet by 1,447.1% during the 4th quarter. Assetmark Inc. now owns 263 shares of the medical instruments supplier's stock worth $69,000 after purchasing an additional 246 shares in the last quarter. Coppell Advisory Solutions LLC raised its position in shares of Insulet by 135.0% during the 4th quarter. Coppell Advisory Solutions LLC now owns 282 shares of the medical instruments supplier's stock worth $74,000 after purchasing an additional 162 shares during the last quarter. Finally, MassMutual Private Wealth & Trust FSB lifted its stake in Insulet by 23.1% in the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 314 shares of the medical instruments supplier's stock valued at $82,000 after buying an additional 59 shares in the last quarter.

Insider Activity

In related news, SVP John W. Kapples sold 5,278 shares of the stock in a transaction dated 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 owned 23,180 shares of the company's stock, valued at $7,382,134.60. This trade represents a 18.55% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.39% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on PODD. Citigroup reiterated a "buy" rating on shares of Insulet in a research report on Tuesday, July 8th. Raymond James Financial reissued an "outperform" rating and set a $360.00 price objective (up previously from $328.00) on shares of Insulet in a research note on Tuesday, May 27th. Oppenheimer boosted their price target on Insulet from $312.00 to $324.00 and gave the company an "outperform" rating in a report on Friday, May 9th. Wells Fargo & Company set a $322.00 price objective on Insulet in a research report on Monday, April 28th. Finally, The Goldman Sachs Group began coverage on Insulet in a research note on Friday, May 30th. They issued a "buy" rating and a $380.00 target price for the company. Four investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $321.00.

Insulet Stock Performance

Shares of NASDAQ PODD traded up $2.69 during midday trading on Monday, hitting $292.01. The company's stock had a trading volume of 605,791 shares, compared to its average volume of 793,154. 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 firm's fifty day moving average price is $307.29 and its 200-day moving average price is $280.25. The firm has a market cap of $20.55 billion, a P/E ratio of 52.52, a P/E/G ratio of 2.58 and a beta of 1.35.

Insulet (NASDAQ:PODD - Get Free Report) last issued 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 company had revenue of $569.00 million during the quarter, compared to the consensus estimate of $543.20 million. Insulet had a return on equity of 22.25% and a net margin of 18.29%. Insulet's quarterly 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 earnings per share. On average, sell-side analysts forecast that Insulet Corporation will post 3.92 EPS for the current fiscal 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.