Kornitzer Capital Management Inc. KS Sells 2,490 Shares of Insulet Corporation (NASDAQ:PODD)

Kornitzer Capital Management Inc. KS lowered its position in shares of Insulet Corporation (NASDAQ:PODD - Free Report) by 8.9% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 25,635 shares of the medical instruments supplier's stock after selling 2,490 shares during the period. Kornitzer Capital Management Inc. KS's holdings in Insulet were worth $6,732,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Horizon Investments LLC raised its holdings in Insulet by 3.1% during the fourth 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. boosted its position in Insulet by 2.3% during the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 2,113 shares of the medical instruments supplier's stock worth $552,000 after acquiring an additional 48 shares during the last quarter. Sequoia Financial Advisors LLC boosted its holdings in shares of Insulet by 2.4% in the 4th quarter. Sequoia Financial Advisors LLC now owns 2,170 shares of the medical instruments supplier's stock valued at $566,000 after purchasing an additional 50 shares during the last quarter. Quadrant Capital Group LLC raised its stake in shares of Insulet by 4.9% in the 4th 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 during the period. Finally, OLD National Bancorp IN raised its stake in shares of Insulet by 6.7% in the 1st quarter. OLD National Bancorp IN now owns 880 shares of the medical instruments supplier's stock valued at $231,000 after acquiring an additional 55 shares during the period.

Insulet Stock Performance

NASDAQ:PODD traded up $2.89 during trading hours on Friday, hitting $286.34. 99,887 shares of the company traded hands, compared to its average volume of 716,281. Insulet Corporation has a twelve month low of $173.00 and a twelve month high of $329.33. The stock has a market capitalization of $20.15 billion, a price-to-earnings ratio of 51.43, a P/E/G ratio of 2.57 and a beta of 1.35. The company has a current ratio of 4.47, a quick ratio of 3.63 and a debt-to-equity ratio of 1.21. The firm has a 50-day moving average of $309.59 and a 200 day moving average of $280.69.

Insulet (NASDAQ:PODD - Get Free Report) last announced its quarterly earnings data on Thursday, May 8th. The medical instruments supplier reported $1.02 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 analysts' expectations of $543.20 million. During the same quarter in the prior year, the company posted $0.73 EPS. The business's revenue was up 28.8% on a year-over-year basis. On average, analysts forecast that Insulet Corporation will post 3.92 EPS for the current year.

Insider Buying and Selling at Insulet

In other news, SVP John W. Kapples sold 5,278 shares of the company's 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 approximately $7,382,134.60. This represents a 18.55% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.39% of the company's stock.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the stock. Wall Street Zen downgraded shares of Insulet from a "buy" rating to a "hold" rating in a research report on Saturday, June 14th. The Goldman Sachs Group assumed coverage on shares of Insulet in a research report on Friday, May 30th. They set a "buy" rating and a $380.00 price target on the stock. Citigroup reiterated a "buy" rating on shares of Insulet in a report on Tuesday, July 8th. Sanford C. Bernstein reiterated an "outperform" rating on shares of Insulet in a report on Friday, May 16th. Finally, Truist Financial assumed coverage on shares of Insulet in a report on Monday, June 16th. They issued a "buy" rating and a $365.00 target price on the stock. Four research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. Based on data from MarketBeat.com, Insulet currently has a consensus rating of "Moderate Buy" and an average target price of $321.00.

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.