Knights of Columbus Asset Advisors LLC Trims Holdings in Insulet Corporation (NASDAQ:PODD)

Key Points

• Knights of Columbus Asset Advisors LLC reduced its holdings in Insulet Corporation by 23.1%, now owning 17,159 shares valued at approximately $4.5 million following a sale of 5,151 shares.
• Other institutional investors have also made significant adjustments to their positions in Insulet, including Skandinaviska Enskilda Banken AB increasing its stake by 15.7%.
• Analysts have expressed confidence in Insulet, with a majority rating it as a strong buy and setting consensus target prices between $321 and $380.

Knights of Columbus Asset Advisors LLC lowered its stake in Insulet Corporation (NASDAQ:PODD - Free Report) by 23.1% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 17,159 shares of the medical instruments supplier's stock after selling 5,151 shares during the period. Knights of Columbus Asset Advisors LLC's holdings in Insulet were worth $4,506,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of the stock. Larson Financial Group LLC boosted its holdings in shares of Insulet by 426.3% during the 1st quarter. Larson Financial Group LLC now owns 100 shares of the medical instruments supplier's stock valued at $26,000 after acquiring an additional 81 shares in the last quarter. Itau Unibanco Holding S.A. acquired a new position in shares of Insulet in the 4th quarter worth approximately $42,000. Golden State Wealth Management LLC boosted 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 valued at $55,000 after acquiring an additional 177 shares during the last quarter. GW&K Investment Management LLC increased its holdings in Insulet by 114.7% in the first quarter. GW&K Investment Management LLC now owns 249 shares of the medical instruments supplier's stock worth $65,000 after purchasing an additional 133 shares in the last quarter. Finally, Coppell Advisory Solutions LLC lifted 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 valued at $74,000 after acquiring an additional 162 shares during the period.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on PODD shares. Sanford C. Bernstein reissued an "outperform" rating on shares of Insulet in a research report on Friday, May 16th. Raymond James Financial reissued an "outperform" rating and issued a $360.00 price objective (up previously from $328.00) on shares of Insulet in a research note on Tuesday, May 27th. Truist Financial initiated coverage on Insulet in a report on Monday, June 16th. They issued a "buy" rating and a $365.00 target price on the stock. Wells Fargo & Company set a $322.00 price target on shares of Insulet in a research report on Monday, April 28th. Finally, Citigroup restated a "buy" rating on shares of Insulet in a report on Tuesday, July 8th. Four analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $321.00.

Insider Buying and Selling

In related news, SVP John W. Kapples sold 5,278 shares of the firm's stock in a transaction that occurred 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 sale, the senior vice president directly owned 23,180 shares of the company's stock, valued at $7,382,134.60. This trade represents a 18.55% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 0.39% of the stock is currently owned by insiders.

Insulet Stock Performance

NASDAQ:PODD traded up $3.64 during trading on Friday, reaching $290.22. The company's stock had a trading volume of 528,135 shares, compared to its average volume of 578,892. Insulet Corporation has a 12 month low of $173.00 and a 12 month high of $329.33. The firm has a market cap of $20.43 billion, a price-to-earnings ratio of 52.20, a price-to-earnings-growth ratio of 2.59 and a beta of 1.35. The firm has a 50 day moving average of $305.68 and a 200-day moving average of $281.70. 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 issued its quarterly earnings results on Thursday, May 8th. The medical instruments supplier reported $1.02 earnings per share (EPS) for the quarter, topping 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 analyst estimates of $543.20 million. During the same quarter last year, the business posted $0.73 EPS. Insulet's quarterly revenue was up 28.8% compared to the same quarter last year. Research analysts expect that Insulet Corporation will post 3.92 EPS for the current fiscal year.

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.