CI Investments Inc. Boosts Stock Holdings in Insulet Corporation $PODD

CI Investments Inc. increased its holdings in shares of Insulet Corporation (NASDAQ:PODD) by 1,280.8% during the third quarter, Holdings Channel.com reports. The firm owned 137,766 shares of the medical instruments supplier’s stock after buying an additional 127,789 shares during the period. CI Investments Inc.’s holdings in Insulet were worth $42,532,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. NewEdge Advisors LLC lifted its holdings in Insulet by 44.8% during the first quarter. NewEdge Advisors LLC now owns 207 shares of the medical instruments supplier’s stock worth $54,000 after buying an additional 64 shares during the period. Arkadios Wealth Advisors raised its position in shares of Insulet by 31.5% in the 2nd quarter. Arkadios Wealth Advisors now owns 1,639 shares of the medical instruments supplier’s stock worth $515,000 after acquiring an additional 393 shares in the last quarter. Hantz Financial Services Inc. lifted its stake in shares of Insulet by 19,550.0% during the 2nd quarter. Hantz Financial Services Inc. now owns 786 shares of the medical instruments supplier’s stock worth $247,000 after purchasing an additional 782 shares during the last quarter. Assetmark Inc. boosted its position in Insulet by 109.1% during the second quarter. Assetmark Inc. now owns 529 shares of the medical instruments supplier’s stock valued at $166,000 after purchasing an additional 276 shares in the last quarter. Finally, Strs Ohio boosted its position in Insulet by 27.8% during the second quarter. Strs Ohio now owns 4,885 shares of the medical instruments supplier’s stock valued at $1,535,000 after purchasing an additional 1,063 shares in the last quarter.

Insulet Price Performance

NASDAQ:PODD opened at $245.45 on Tuesday. The firm’s fifty day moving average is $267.29 and its two-hundred day moving average is $302.60. The firm has a market cap of $17.28 billion, a price-to-earnings ratio of 70.13, a PEG ratio of 1.47 and a beta of 1.41. The company has a debt-to-equity ratio of 0.61, a quick ratio of 2.15 and a current ratio of 2.81. Insulet Corporation has a one year low of $230.05 and a one year high of $354.88.

Insulet (NASDAQ:PODD) last issued its quarterly earnings data on Wednesday, February 18th. The medical instruments supplier reported $1.55 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.48 by $0.07. Insulet had a return on equity of 24.90% and a net margin of 9.12%.The business had revenue of $783.80 million during the quarter, compared to analysts’ expectations of $768.31 million. During the same quarter in the previous year, the firm posted $1.15 EPS. The company’s revenue for the quarter was up 31.2% on a year-over-year basis. Research analysts expect that Insulet Corporation will post 3.92 EPS for the current year.

Insider Transactions at Insulet

In related news, Director Michael R. Minogue acquired 2,030 shares of the stock in a transaction on Wednesday, February 25th. The shares were acquired at an average price of $246.23 per share, for a total transaction of $499,846.90. Following the transaction, the director owned 17,483 shares in the company, valued at approximately $4,304,839.09. This trade represents a 13.14% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.39% of the company’s stock.

Analyst Ratings Changes

Several research firms recently commented on PODD. Barclays reiterated an “underweight” rating and set a $286.00 price objective on shares of Insulet in a research note on Thursday, February 19th. Oppenheimer cut their price target on shares of Insulet from $365.00 to $300.00 and set an “outperform” rating on the stock in a report on Thursday, February 19th. UBS Group reiterated a “buy” rating on shares of Insulet in a report on Thursday, December 18th. Leerink Partners dropped their target price on Insulet from $386.00 to $360.00 and set an “outperform” rating on the stock in a research note on Thursday, February 19th. Finally, Evercore set a $340.00 target price on Insulet in a research report on Thursday, February 19th. Twenty research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $354.57.

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.