Kornitzer Capital Management Inc. KS Has $7.34 Million Stock Holdings in Insulet Co. (NASDAQ:PODD)

Kornitzer Capital Management Inc. KS trimmed its stake in shares of Insulet Co. (NASDAQ:PODD - Free Report) by 30.8% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 28,125 shares of the medical instruments supplier's stock after selling 12,500 shares during the period. Kornitzer Capital Management Inc. KS's holdings in Insulet were worth $7,343,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Blue Trust Inc. lifted its position in shares of Insulet by 84.1% during the third quarter. Blue Trust Inc. now owns 127 shares of the medical instruments supplier's stock worth $30,000 after purchasing an additional 58 shares in the last quarter. Venturi Wealth Management LLC lifted its holdings in Insulet by 633.3% in the third quarter. Venturi Wealth Management LLC now owns 154 shares of the medical instruments supplier's stock valued at $36,000 after buying an additional 133 shares during the period. TD Private Client Wealth LLC lifted its holdings in Insulet by 32.6% in the third quarter. TD Private Client Wealth LLC now owns 228 shares of the medical instruments supplier's stock valued at $53,000 after buying an additional 56 shares during the period. Friedenthal Financial acquired a new position in Insulet in the fourth quarter valued at approximately $57,000. Finally, Versant Capital Management Inc lifted its holdings in Insulet by 106.1% in the fourth quarter. Versant Capital Management Inc now owns 305 shares of the medical instruments supplier's stock valued at $80,000 after buying an additional 157 shares during the period.

Insider Activity

In other news, EVP Eric Benjamin sold 12,394 shares of Insulet stock in a transaction dated Tuesday, January 21st. The shares were sold at an average price of $280.00, for a total value of $3,470,320.00. Following the completion of the transaction, the executive vice president now owns 11,383 shares of the company's stock, valued at $3,187,240. This trade represents a 52.13 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CAO Lauren Budden sold 915 shares of Insulet stock in a transaction dated Tuesday, December 10th. The shares were sold at an average price of $275.62, for a total transaction of $252,192.30. Following the completion of the transaction, the chief accounting officer now directly owns 5,733 shares of the company's stock, valued at approximately $1,580,129.46. This trade represents a 13.76 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.47% of the company's stock.

Analyst Upgrades and Downgrades

PODD has been the topic of several analyst reports. Wells Fargo & Company increased their price objective on shares of Insulet from $305.00 to $322.00 and gave the company an "overweight" rating in a report on Friday. Canaccord Genuity Group increased their price objective on shares of Insulet from $304.00 to $324.00 and gave the company a "buy" rating in a report on Friday. Stifel Nicolaus increased their price objective on shares of Insulet from $245.00 to $293.00 and gave the company a "hold" rating in a report on Friday. Raymond James reiterated an "outperform" rating and issued a $328.00 target price (up from $294.00) on shares of Insulet in a report on Friday. Finally, TD Cowen increased their target price on shares of Insulet from $264.00 to $324.00 and gave the stock a "buy" rating in a report on Friday, January 3rd. Three equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company's stock. According to MarketBeat.com, Insulet currently has a consensus rating of "Moderate Buy" and a consensus price target of $289.06.

Insulet Stock Down 1.9 %

Insulet stock traded down $5.49 during mid-day trading on Friday, reaching $282.80. The company's stock had a trading volume of 1,410,496 shares, compared to its average volume of 574,159. The company has a market capitalization of $19.84 billion, a price-to-earnings ratio of 48.42, a price-to-earnings-growth ratio of 3.56 and a beta of 1.23. Insulet Co. has a 12 month low of $160.19 and a 12 month high of $289.46. The business's 50 day simple moving average is $272.71 and its 200 day simple moving average is $246.47. The company has a debt-to-equity ratio of 1.21, a quick ratio of 2.80 and a current ratio of 3.68.

Insulet (NASDAQ:PODD - Get Free Report) last released its earnings results on Thursday, February 20th. The medical instruments supplier reported $1.15 earnings per share for the quarter, beating analysts' consensus estimates of $1.00 by $0.15. Insulet had a net margin of 21.22% and a return on equity of 27.98%. The business had revenue of $597.50 million during the quarter, compared to the consensus estimate of $582.02 million. As a group, research analysts anticipate that Insulet Co. will post 3.22 earnings per share for the current year.

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.