Insulet Corporation $PODD Shares Sold by Kornitzer Capital Management Inc. KS

Kornitzer Capital Management Inc. KS lessened its position in shares of Insulet Corporation (NASDAQ:PODD) by 26.6% in the 3rd quarter, HoldingsChannel reports. The fund owned 18,500 shares of the medical instruments supplier’s stock after selling 6,700 shares during the period. Kornitzer Capital Management Inc. KS’s holdings in Insulet were worth $5,712,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. NewEdge Advisors LLC boosted its position in shares of Insulet by 44.8% during the 1st quarter. NewEdge Advisors LLC now owns 207 shares of the medical instruments supplier’s stock worth $54,000 after acquiring an additional 64 shares in the last quarter. Wealth Enhancement Advisory Services LLC raised its position in Insulet by 10.0% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 3,332 shares of the medical instruments supplier’s stock valued at $1,003,000 after purchasing an additional 304 shares during the last quarter. V Square Quantitative Management LLC boosted its stake in Insulet by 5.8% during the 2nd quarter. V Square Quantitative Management LLC now owns 1,930 shares of the medical instruments supplier’s stock worth $606,000 after purchasing an additional 106 shares during the period. Janney Montgomery Scott LLC grew its position in Insulet by 784.9% during the 2nd quarter. Janney Montgomery Scott LLC now owns 47,827 shares of the medical instruments supplier’s stock worth $15,026,000 after purchasing an additional 42,422 shares during the last quarter. Finally, Chicago Capital LLC increased its stake in Insulet by 3.9% in the second quarter. Chicago Capital LLC now owns 177,996 shares of the medical instruments supplier’s stock valued at $55,923,000 after purchasing an additional 6,702 shares during the period.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on PODD shares. Royal Bank Of Canada increased their target price on shares of Insulet from $370.00 to $380.00 and gave the stock an “outperform” rating in a research note on Friday, November 21st. Canaccord Genuity Group increased their price objective on Insulet from $432.00 to $450.00 and gave the stock a “buy” rating in a research report on Wednesday, December 17th. TD Cowen downgraded Insulet from a “buy” rating to a “hold” rating and set a $294.00 target price on the stock. in a research note on Monday. Sanford C. Bernstein cut their price target on Insulet from $410.00 to $380.00 and set an “outperform” rating for the company in a research note on Friday, January 9th. Finally, Wells Fargo & Company increased their price target on Insulet from $350.00 to $360.00 and gave the stock an “overweight” rating in a report on Friday, November 7th. Twenty investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat, Insulet has a consensus rating of “Moderate Buy” and an average target price of $375.05.

Insulet Stock Down 2.4%

Insulet stock opened at $264.91 on Wednesday. The stock’s 50 day moving average price is $295.98 and its 200 day moving average price is $309.98. Insulet Corporation has a 1-year low of $230.05 and a 1-year high of $354.88. The company has a market cap of $18.64 billion, a PE ratio of 76.79, a price-to-earnings-growth ratio of 1.51 and a beta of 1.40. The company has a debt-to-equity ratio of 0.68, a current ratio of 2.87 and a quick ratio of 2.18.

Insulet (NASDAQ:PODD) last released its earnings results on Thursday, November 6th. The medical instruments supplier reported $1.24 EPS for the quarter, beating analysts’ consensus estimates of $1.13 by $0.11. Insulet had a return on equity of 24.36% and a net margin of 9.76%.The company had revenue of $521.70 million during the quarter, compared to the consensus estimate of $678.70 million. During the same quarter last year, the company earned $1.08 earnings per share. Insulet’s quarterly revenue was up 29.9% compared to the same quarter last year. On average, sell-side analysts predict that Insulet Corporation will post 3.92 EPS for the current fiscal year.

Insulet Profile

Insulet Corporation is a medical device company headquartered in Acton, Massachusetts, that develops, manufactures and sells insulin-delivery systems for people with diabetes. The company’s core business is the design and commercialization of its Omnipod family of tubeless, wearable insulin pumps and the consumable Pods that deliver insulin. Insulet’s products aim to simplify insulin delivery for people with type 1 diabetes and insulin-requiring type 2 diabetes by offering an alternative to traditional insulin pens and tethered pump systems.

The company’s product portfolio includes the Omnipod System line—disposable, waterproof Pods that adhere to the skin and deliver insulin—and the associated controllers and mobile applications used to program and monitor insulin delivery.