Mackenzie Financial Corp Purchases 3,015 Shares of Insulet Corporation (NASDAQ:PODD)

Key Points

• Mackenzie Financial Corp increased its stake in Insulet Corporation by 39.9% in the first quarter, owning a total of 10,576 shares valued at approximately $2.8 million.
• Several other institutional investors also boosted their positions in Insulet, with Larson Financial Group LLC and Golden State Wealth Management LLC increasing their holdings by 426.3% and 553.1% respectively during the same period.
• Insulet reported a quarterly earnings beat, with earnings per share of $1.02, surpassing estimates of $0.81, and revenues rising 28.8% year-over-year to $569 million.

Mackenzie Financial Corp increased its position in shares of Insulet Corporation (NASDAQ:PODD - Free Report) by 39.9% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 10,576 shares of the medical instruments supplier's stock after acquiring an additional 3,015 shares during the period. Mackenzie Financial Corp's holdings in Insulet were worth $2,777,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Allspring Global Investments Holdings LLC raised its position in Insulet by 55.5% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 5,229 shares of the medical instruments supplier's stock valued at $1,376,000 after purchasing an additional 1,867 shares in the last quarter. Farther Finance Advisors LLC increased its stake in Insulet by 85.1% in the 1st quarter. Farther Finance Advisors LLC now owns 896 shares of the medical instruments supplier's stock valued at $236,000 after buying an additional 412 shares during the period. QRG Capital Management Inc. boosted its holdings in Insulet by 75.6% in the 1st quarter. QRG Capital Management Inc. now owns 2,030 shares of the medical instruments supplier's stock valued at $533,000 after purchasing an additional 874 shares in the last quarter. Arrowstreet Capital Limited Partnership purchased a new position in shares of Insulet in the 4th quarter valued at about $9,822,000. Finally, Exchange Traded Concepts LLC boosted its position in Insulet by 225.4% during the first quarter. Exchange Traded Concepts LLC now owns 1,552 shares of the medical instruments supplier's stock worth $408,000 after purchasing an additional 1,075 shares in the last quarter.

Analyst Ratings Changes

A number of equities research analysts have recently commented on PODD shares. Wells Fargo & Company set a $322.00 price target on shares of Insulet in a report on Monday, April 28th. Sanford C. Bernstein reiterated an "outperform" rating on shares of Insulet in a report on Friday, May 16th. Wolfe Research raised Insulet from a "peer perform" rating to an "outperform" rating and set a $350.00 price target on the stock in a research report on Tuesday, May 13th. Oppenheimer increased their target price on shares of Insulet from $312.00 to $324.00 and gave the stock an "outperform" rating in a report on Friday, May 9th. Finally, Barclays lifted their price target on shares of Insulet from $234.00 to $266.00 and gave the company an "equal weight" rating in a report on Wednesday, April 30th. Four research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company's stock. According to MarketBeat.com, Insulet presently has a consensus rating of "Moderate Buy" and an average price target 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 stock was sold at an average price of $318.47, for a total transaction of $1,680,884.66. Following the completion of the transaction, the senior vice president owned 23,180 shares in the company, valued at $7,382,134.60. This trade represents a 18.55% decrease in their position. The transaction was disclosed in a 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 Stock Performance

Shares of Insulet stock traded up $2.86 during midday trading on Monday, hitting $287.77. The company had a trading volume of 614,592 shares, compared to its average volume of 763,956. Insulet Corporation has a 1-year low of $173.00 and a 1-year high of $329.33. The business's 50 day simple moving average is $302.39 and its two-hundred day simple moving average is $282.56. The stock has a market cap of $20.25 billion, a PE ratio of 51.76, a P/E/G ratio of 2.54 and a beta of 1.35. The company has a debt-to-equity ratio of 1.21, a current ratio of 4.47 and a quick ratio of 3.63.

Insulet (NASDAQ:PODD - Get Free Report) last announced its quarterly earnings data on Thursday, May 8th. The medical instruments supplier reported $1.02 EPS for the quarter, topping 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%. The company's quarterly revenue was up 28.8% on a year-over-year basis. During the same quarter last year, the company earned $0.73 EPS. As a group, equities analysts predict that Insulet Corporation will post 3.92 EPS for the current fiscal year.

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.