Kornitzer Capital Management Inc. KS Has $9.46 Million Stock Position in Insulet Co. (NASDAQ:PODD)

Kornitzer Capital Management Inc. KS trimmed its holdings in Insulet Co. (NASDAQ:PODD - Free Report) by 11.0% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 40,625 shares of the medical instruments supplier's stock after selling 5,000 shares during the period. Kornitzer Capital Management Inc. KS owned 0.06% of Insulet worth $9,455,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Diversified Trust Co grew its position in Insulet by 90.9% in the second quarter. Diversified Trust Co now owns 9,130 shares of the medical instruments supplier's stock worth $1,842,000 after acquiring an additional 4,348 shares in the last quarter. SG Americas Securities LLC grew its position in Insulet by 349.3% in the first quarter. SG Americas Securities LLC now owns 29,575 shares of the medical instruments supplier's stock worth $5,069,000 after acquiring an additional 22,993 shares in the last quarter. Intech Investment Management LLC grew its position in Insulet by 113.8% in the first quarter. Intech Investment Management LLC now owns 6,649 shares of the medical instruments supplier's stock worth $1,140,000 after acquiring an additional 3,539 shares in the last quarter. Natixis bought a new stake in Insulet in the first quarter worth approximately $3,610,000. Finally, Seven Eight Capital LP bought a new stake in Insulet in the first quarter worth approximately $1,418,000.

Analyst Ratings Changes

Several analysts recently issued reports on PODD shares. BTIG Research upped their price objective on shares of Insulet from $260.00 to $270.00 and gave the stock a "buy" rating in a report on Friday. Canaccord Genuity Group upped their price objective on shares of Insulet from $236.00 to $269.00 and gave the stock a "buy" rating in a report on Wednesday, September 25th. Raymond James upped their price objective on shares of Insulet from $213.00 to $260.00 and gave the stock an "outperform" rating in a report on Monday, October 14th. Sanford C. Bernstein started coverage on shares of Insulet in a report on Wednesday. They set an "outperform" rating and a $300.00 price objective for the company. Finally, UBS Group upped their price objective on shares of Insulet from $211.00 to $223.00 and gave the stock a "neutral" rating in a report on Friday, August 9th. Three investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, Insulet currently has an average rating of "Moderate Buy" and an average target price of $246.80.

Insulet Price Performance

Shares of PODD stock traded up $23.02 during mid-day trading on Friday, reaching $268.00. The company's stock had a trading volume of 1,582,879 shares, compared to its average volume of 782,076. Insulet Co. has a 1-year low of $151.56 and a 1-year high of $275.52. The company has a market cap of $18.79 billion, a P/E ratio of 49.39, a PEG ratio of 4.47 and a beta of 1.22. The company has a debt-to-equity ratio of 1.36, a quick ratio of 2.71 and a current ratio of 3.60. The firm's 50-day moving average is $230.70 and its two-hundred day moving average is $203.24.

Insulet (NASDAQ:PODD - Get Free Report) last announced its quarterly earnings data on Thursday, August 8th. The medical instruments supplier reported $0.55 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.56 by ($0.01). Insulet had a net margin of 21.11% and a return on equity of 30.73%. The business had revenue of $488.50 million during the quarter, compared to analyst estimates of $488.00 million. During the same quarter in the prior year, the company posted $0.38 EPS. The company's quarterly revenue was up 23.2% compared to the same quarter last year. On average, research analysts predict that Insulet Co. will post 3.04 earnings per share for the current year.

Insulet 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.