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

Kornitzer Capital Management Inc. KS cut its holdings in Insulet Co. (NASDAQ:PODD) by 30.8% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 28,125 shares of the medical instruments supplier’s stock after selling 12,500 shares during the quarter. Kornitzer Capital Management Inc. KS’s holdings in Insulet were worth $7,343,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in the business. Integrated Wealth Concepts LLC lifted its stake in Insulet by 1.7% in the third quarter. Integrated Wealth Concepts LLC now owns 2,561 shares of the medical instruments supplier’s stock valued at $596,000 after buying an additional 42 shares during the period. Nisa Investment Advisors LLC lifted its stake in Insulet by 1.0% in the fourth quarter. Nisa Investment Advisors LLC now owns 4,388 shares of the medical instruments supplier’s stock valued at $1,146,000 after buying an additional 43 shares during the period. Glenmede Trust Co. NA lifted its stake in Insulet by 2.3% in the third quarter. Glenmede Trust Co. NA now owns 2,080 shares of the medical instruments supplier’s stock valued at $484,000 after buying an additional 47 shares during the period. Graypoint LLC lifted its stake in Insulet by 5.3% in the fourth quarter. Graypoint LLC now owns 930 shares of the medical instruments supplier’s stock valued at $243,000 after buying an additional 47 shares during the period. Finally, Wilmington Savings Fund Society FSB lifted its stake in Insulet by 9.6% in the fourth quarter. Wilmington Savings Fund Society FSB now owns 538 shares of the medical instruments supplier’s stock valued at $140,000 after buying an additional 47 shares during the period.

Insider Buying and Selling at Insulet

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

Insulet Trading Up 0.1 %

Shares of Insulet stock opened at $280.71 on Wednesday. The stock has a fifty day simple moving average of $272.17 and a 200 day simple moving average of $245.91. Insulet Co. has a 12-month low of $160.19 and a 12-month high of $289.46. The company has a market capitalization of $19.69 billion, a P/E ratio of 48.07, a price-to-earnings-growth ratio of 3.61 and a beta of 1.23. The company has a current ratio of 3.68, a quick ratio of 2.80 and a debt-to-equity ratio of 1.21.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the company. Morgan Stanley boosted their price target on Insulet from $234.00 to $317.00 and gave the company an “overweight” rating in a research note on Monday, November 11th. Citigroup boosted their price objective on Insulet from $283.00 to $310.00 and gave the company a “buy” rating in a report on Wednesday, December 11th. Wells Fargo & Company boosted their price objective on Insulet from $290.00 to $305.00 and gave the company an “overweight” rating in a report on Wednesday, December 11th. BTIG Research boosted their price objective on Insulet from $260.00 to $270.00 and gave the company a “buy” rating in a report on Friday, November 8th. Finally, TD Cowen boosted their price objective on Insulet from $264.00 to $324.00 and gave the company a “buy” rating in a report on Friday, January 3rd. Two research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $277.13.

About Insulet

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.