Pacer Advisors Inc. Sells 2,005 Shares of Insulet Corporation (NASDAQ:PODD)

Key Points

• Pacer Advisors Inc. reduced its holdings in Insulet Corporation by 35.7%, owning 3,604 shares following the sale of 2,005 shares in the 1st quarter, with a total value of approximately $946,000.
• Several institutional investors including Lagson Financial Group and Golden State Wealth Management made significant increases in their stakes in Insulet, with increases of 426.3% and 553.1% respectively.
• Wall Street analysts generally have a positive outlook on Insulet, with a consensus rating of "Moderate Buy" and an average price target of $321.00.

Pacer Advisors Inc. lessened its holdings in shares of Insulet Corporation (NASDAQ:PODD - Free Report) by 35.7% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,604 shares of the medical instruments supplier's stock after selling 2,005 shares during the quarter. Pacer Advisors Inc.'s holdings in Insulet were worth $946,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of PODD. Quadrant Capital Group LLC increased its position in shares of Insulet by 4.9% in the fourth quarter. Quadrant Capital Group LLC now owns 1,092 shares of the medical instruments supplier's stock worth $285,000 after purchasing an additional 51 shares during the last quarter. OLD National Bancorp IN increased its position in shares of Insulet by 6.7% in the first quarter. OLD National Bancorp IN now owns 880 shares of the medical instruments supplier's stock worth $231,000 after purchasing an additional 55 shares during the last quarter. Syon Capital LLC increased its position in shares of Insulet by 5.6% in the fourth quarter. Syon Capital LLC now owns 1,114 shares of the medical instruments supplier's stock worth $291,000 after purchasing an additional 59 shares during the last quarter. MassMutual Private Wealth & Trust FSB increased its position in shares of Insulet by 23.1% in the first quarter. MassMutual Private Wealth & Trust FSB now owns 314 shares of the medical instruments supplier's stock worth $82,000 after purchasing an additional 59 shares during the last quarter. Finally, CWM LLC increased its position in shares of Insulet by 1.6% in the first quarter. CWM LLC now owns 4,034 shares of the medical instruments supplier's stock worth $1,059,000 after purchasing an additional 64 shares during the last quarter.

Insulet Trading Down 1.2%

Shares of NASDAQ:PODD traded down $3.49 during trading on Friday, reaching $284.91. 567,392 shares of the company traded hands, compared to its average volume of 489,973. The firm has a market capitalization of $20.05 billion, a price-to-earnings ratio of 51.24, a P/E/G ratio of 2.57 and a beta of 1.35. Insulet Corporation has a 52-week low of $173.00 and a 52-week high of $329.33. 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 business's fifty day moving average is $302.39 and its 200-day moving average is $282.37.

Insulet (NASDAQ:PODD - Get Free Report) last announced its quarterly earnings results 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. Insulet had a return on equity of 22.25% and a net margin of 18.29%. 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 firm posted $0.73 earnings per share. The firm's revenue was up 28.8% on a year-over-year basis. As a group, analysts forecast that Insulet Corporation will post 3.92 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on PODD. Wolfe Research upgraded shares of Insulet from a "peer perform" rating to an "outperform" rating and set a $350.00 price objective on the stock in a research report on Tuesday, May 13th. Sanford C. Bernstein restated an "outperform" rating on shares of Insulet in a research report on Friday, May 16th. Barclays upped their price objective on shares of Insulet from $234.00 to $266.00 and gave the stock an "equal weight" rating in a research report on Wednesday, April 30th. Raymond James Financial restated an "outperform" rating and issued a $360.00 price objective (up from $328.00) on shares of Insulet in a research report on Tuesday, May 27th. Finally, Citigroup reaffirmed a "buy" rating on shares of Insulet in a research note on Tuesday, July 8th. 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 data from MarketBeat, Insulet presently has an average rating of "Moderate Buy" and a consensus 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 on Wednesday, May 14th. The stock was sold at an average price of $318.47, for a total value of $1,680,884.66. Following the completion of 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 ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.39% of the stock is owned by insiders.

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.