Kornitzer Capital Management Inc. KS Reduces Holdings in Insulet Co. (NASDAQ:PODD)

Kornitzer Capital Management Inc. KS lessened its position in shares of Insulet Co. (NASDAQ:PODD) by 30.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund 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 institutional investors have also recently made changes to their positions in the company. Blue Trust Inc. lifted its holdings in Insulet by 84.1% during the 3rd 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% during the 3rd quarter. Venturi Wealth Management LLC now owns 154 shares of the medical instruments supplier’s stock worth $36,000 after purchasing an additional 133 shares in the last quarter. TD Private Client Wealth LLC lifted its holdings in Insulet by 32.6% during the 3rd quarter. TD Private Client Wealth LLC now owns 228 shares of the medical instruments supplier’s stock worth $53,000 after purchasing an additional 56 shares in the last quarter. Friedenthal Financial purchased a new stake in Insulet during the 4th quarter worth about $57,000. Finally, Versant Capital Management Inc lifted its holdings in Insulet by 106.1% during the 4th quarter. Versant Capital Management Inc now owns 305 shares of the medical instruments supplier’s stock worth $80,000 after purchasing an additional 157 shares in the last quarter.

Insulet Price Performance

Shares of Insulet stock opened at $280.71 on Wednesday. The company has a current ratio of 3.68, a quick ratio of 2.80 and a debt-to-equity ratio of 1.21. The firm has a market capitalization of $19.69 billion, a PE ratio of 48.07, a price-to-earnings-growth ratio of 3.61 and a beta of 1.23. The business’s 50-day moving average price is $272.17 and its 200-day moving average price is $245.91. Insulet Co. has a 12 month low of $160.19 and a 12 month high of $289.46.

Insider Activity

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

Analyst Upgrades and Downgrades

PODD has been the topic of a number of recent research reports. Morgan Stanley increased their price objective on Insulet from $234.00 to $317.00 and gave the stock an “overweight” rating in a report on Monday, November 11th. BTIG Research increased their price objective on Insulet from $260.00 to $270.00 and gave the stock a “buy” rating in a report on Friday, November 8th. JPMorgan Chase & Co. upped their target price on Insulet from $280.00 to $330.00 and gave the stock an “overweight” rating in a research note on Thursday, December 12th. Canaccord Genuity Group upped their target price on Insulet from $269.00 to $304.00 and gave the stock a “buy” rating in a research note on Monday, December 9th. Finally, Wells Fargo & Company upped their target price on Insulet from $290.00 to $305.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 11th. Two investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $277.13.

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.