Kornitzer Capital Management Inc. KS Trims Holdings in Insulet Corporation $PODD

Kornitzer Capital Management Inc. KS reduced its stake in Insulet Corporation (NASDAQ:PODD) by 26.6% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 18,500 shares of the medical instruments supplier’s stock after selling 6,700 shares during the quarter. Kornitzer Capital Management Inc. KS’s holdings in Insulet were worth $5,712,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. True Wealth Design LLC raised its stake in Insulet by 288.0% during the third quarter. True Wealth Design LLC now owns 97 shares of the medical instruments supplier’s stock worth $30,000 after purchasing an additional 72 shares during the period. Golden State Wealth Management LLC increased its holdings in shares of Insulet by 202.9% during the 2nd quarter. Golden State Wealth Management LLC now owns 103 shares of the medical instruments supplier’s stock worth $32,000 after buying an additional 69 shares during the last quarter. Trust Co. of Toledo NA OH purchased a new stake in shares of Insulet during the 2nd quarter valued at approximately $35,000. Whittier Trust Co. of Nevada Inc. raised its position in shares of Insulet by 48.9% during the 3rd quarter. Whittier Trust Co. of Nevada Inc. now owns 131 shares of the medical instruments supplier’s stock valued at $40,000 after buying an additional 43 shares during the period. Finally, Quent Capital LLC acquired a new position in Insulet in the third quarter valued at approximately $49,000.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the company. Wells Fargo & Company raised their target price on Insulet from $350.00 to $360.00 and gave the stock an “overweight” rating in a research note on Friday, November 7th. TD Cowen cut Insulet from a “buy” rating to a “hold” rating and set a $294.00 price target for the company. in a report on Monday. Truist Financial reduced their price objective on shares of Insulet from $412.00 to $390.00 and set a “buy” rating on the stock in a report on Thursday, December 18th. Wolfe Research upped their target price on shares of Insulet from $350.00 to $375.00 and gave the company an “outperform” rating in a research report on Friday, November 7th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Insulet in a research note on Thursday, January 22nd. Twenty research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat.com, Insulet has a consensus rating of “Moderate Buy” and a consensus price target of $375.05.

Insulet Price Performance

Shares of PODD opened at $264.91 on Wednesday. The company has a market cap of $18.64 billion, a P/E ratio of 76.79, a PEG ratio of 1.51 and a beta of 1.40. Insulet Corporation has a fifty-two week low of $230.05 and a fifty-two week high of $354.88. The company has a quick ratio of 2.18, a current ratio of 2.87 and a debt-to-equity ratio of 0.68. The firm’s 50 day moving average price is $295.98 and its 200 day moving average price is $309.98.

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

Insulet Company 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.