Victory Capital Management Inc. Reduces Stock Holdings in Insulet Corporation (NASDAQ:PODD)

Victory Capital Management Inc. lessened its holdings in Insulet Corporation (NASDAQ:PODD - Free Report) by 2.8% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 34,218 shares of the medical instruments supplier's stock after selling 999 shares during the quarter. Victory Capital Management Inc.'s holdings in Insulet were worth $8,986,000 at the end of the most recent quarter.

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

Insider Buying and Selling at Insulet

In related news, SVP John W. Kapples sold 5,278 shares of the firm'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 completion of the sale, 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.39% of the stock is currently owned by company insiders.

Insulet Stock Performance

NASDAQ PODD traded up $3.64 on Friday, hitting $290.22. 528,135 shares of the company's stock were exchanged, compared to its average volume of 578,892. The firm has a market cap of $20.42 billion, a price-to-earnings ratio of 52.20, a P/E/G ratio of 2.56 and a beta of 1.35. The firm's 50-day moving average price is $305.68 and its two-hundred day moving average price is $281.62. Insulet Corporation has a fifty-two week low of $173.00 and a fifty-two week high of $329.33. 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 earnings per share 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 firm had revenue of $569.00 million for the quarter, compared to analyst estimates of $543.20 million. During the same quarter in the prior year, the company posted $0.73 earnings per share. Insulet's quarterly revenue was up 28.8% on a year-over-year basis. On average, research analysts expect that Insulet Corporation will post 3.92 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on PODD. Wall Street Zen cut shares of Insulet from a "buy" rating to a "hold" rating in a research report on Saturday, June 14th. The Goldman Sachs Group began coverage on Insulet in a research report on Friday, May 30th. They set a "buy" rating and a $380.00 target price on the stock. Citigroup reissued a "buy" rating on shares of Insulet in a report on Tuesday, July 8th. Truist Financial assumed coverage on Insulet in a research note on Monday, June 16th. They set a "buy" rating and a $365.00 price target on the stock. Finally, 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. Four research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. Based on data from MarketBeat, Insulet has an average rating of "Moderate Buy" and a consensus 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.