Cambridge Investment Research Advisors Inc. Sells 1,017 Shares of Insulet Corporation (NASDAQ:PODD)

Cambridge Investment Research Advisors Inc. lessened its position in Insulet Corporation (NASDAQ:PODD) by 46.2% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,183 shares of the medical instruments supplier’s stock after selling 1,017 shares during the period. Cambridge Investment Research Advisors Inc.’s holdings in Insulet were worth $311,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Arrowstreet Capital Limited Partnership bought a new stake in shares of Insulet during the 4th quarter worth about $9,822,000. Farther Finance Advisors LLC boosted its holdings in Insulet by 85.1% in the 1st quarter. Farther Finance Advisors LLC now owns 896 shares of the medical instruments supplier’s stock valued at $236,000 after purchasing an additional 412 shares during the period. Exchange Traded Concepts LLC grew its position in shares of Insulet by 225.4% during the 1st quarter. Exchange Traded Concepts LLC now owns 1,552 shares of the medical instruments supplier’s stock worth $408,000 after purchasing an additional 1,075 shares in the last quarter. QRG Capital Management Inc. grew its position in shares of Insulet by 75.6% during the 1st quarter. QRG Capital Management Inc. now owns 2,030 shares of the medical instruments supplier’s stock worth $533,000 after purchasing an additional 874 shares in the last quarter. Finally, State of Alaska Department of Revenue grew its position in shares of Insulet by 2.6% during the 1st quarter. State of Alaska Department of Revenue now owns 8,212 shares of the medical instruments supplier’s stock worth $2,156,000 after purchasing an additional 210 shares in the last quarter.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on PODD. Wall Street Zen lowered shares of Insulet from a “buy” rating to a “hold” rating in a research report on Saturday, June 14th. Barclays raised their target price on shares of Insulet from $234.00 to $266.00 and gave the company an “equal weight” rating in a research report on Wednesday, April 30th. Wolfe Research raised shares of Insulet from a “peer perform” rating to an “outperform” rating and set a $350.00 price target for the company in a research note on Tuesday, May 13th. Truist Financial assumed coverage on shares of Insulet in a research note on Monday, June 16th. They set a “buy” rating and a $365.00 target price for the company. Finally, The Goldman Sachs Group assumed coverage on shares of Insulet in a research note on Friday, May 30th. They set a “buy” rating and a $380.00 target price for the company. Four investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $321.00.

Insider Activity at Insulet

In other news, SVP John W. Kapples sold 5,278 shares of the stock in a transaction on Wednesday, May 14th. The shares were sold at an average price of $318.47, for a total value of $1,680,884.66. Following the transaction, the senior vice president owned 23,180 shares of the company’s stock, valued at $7,382,134.60. This represents a 18.55% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.39% of the stock is owned by insiders.

Insulet Trading Down 2.7%

NASDAQ:PODD opened at $289.32 on Friday. The company has a debt-to-equity ratio of 1.21, a current ratio of 4.47 and a quick ratio of 3.63. The firm has a 50-day moving average of $307.29 and a 200-day moving average of $280.15. The company has a market cap of $20.36 billion, a PE ratio of 52.04, a PEG ratio of 2.58 and a beta of 1.35. Insulet Corporation has a one year low of $173.00 and a one year high of $329.33.

Insulet (NASDAQ:PODD) last released its earnings results on Thursday, May 8th. The medical instruments supplier reported $1.02 earnings per share for the quarter, beating analysts’ consensus estimates of $0.81 by $0.21. The firm had revenue of $569.00 million for the quarter, compared to analysts’ expectations of $543.20 million. Insulet had a net margin of 18.29% and a return on equity of 22.25%. The company’s quarterly revenue was up 28.8% on a year-over-year basis. During the same period in the previous year, the company earned $0.73 earnings per share. As a group, equities research analysts expect that Insulet Corporation will post 3.92 EPS for the current fiscal year.

Insulet Company 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.