AMI Asset Management Corp Invests $37.21 Million in Insulet Co. (NASDAQ:PODD)

AMI Asset Management Corp purchased a new position in Insulet Co. (NASDAQ:PODD) in the first quarter, Holdings Channel reports. The fund purchased 217,100 shares of the medical instruments supplier’s stock, valued at approximately $37,211,000. Insulet accounts for approximately 1.9% of AMI Asset Management Corp’s portfolio, making the stock its 27th biggest position.

A number of other hedge funds have also made changes to their positions in PODD. Bank of Nova Scotia increased its holdings in Insulet by 14.8% in the third quarter. Bank of Nova Scotia now owns 6,489 shares of the medical instruments supplier’s stock worth $1,035,000 after buying an additional 835 shares during the last quarter. Teza Capital Management LLC acquired a new position in Insulet in the third quarter worth approximately $580,000. AQR Capital Management LLC increased its holdings in Insulet by 404.0% in the third quarter. AQR Capital Management LLC now owns 57,186 shares of the medical instruments supplier’s stock worth $9,121,000 after buying an additional 45,839 shares during the last quarter. Alps Advisors Inc. increased its holdings in Insulet by 45.0% in the third quarter. Alps Advisors Inc. now owns 5,703 shares of the medical instruments supplier’s stock worth $910,000 after buying an additional 1,769 shares during the last quarter. Finally, Adage Capital Partners GP L.L.C. increased its holdings in Insulet by 14.1% in the third quarter. Adage Capital Partners GP L.L.C. now owns 21,377 shares of the medical instruments supplier’s stock worth $3,409,000 after buying an additional 2,646 shares during the last quarter.

Wall Street Analyst Weigh In

PODD has been the topic of a number of research reports. Raymond James dropped their price objective on Insulet from $218.00 to $213.00 and set an “outperform” rating on the stock in a report on Friday, May 10th. Wolfe Research upgraded Insulet from a “peer perform” rating to an “outperform” rating and set a $200.00 price objective on the stock in a report on Tuesday, May 7th. Redburn Atlantic initiated coverage on Insulet in a report on Thursday, May 30th. They set a “buy” rating and a $235.00 price target on the stock. Jefferies Financial Group increased their price target on Insulet from $255.00 to $260.00 and gave the company a “buy” rating in a report on Friday, May 10th. Finally, Barclays lowered their price target on Insulet from $213.00 to $200.00 and set an “equal weight” rating on the stock in a report on Monday, May 13th. Four equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $239.18.

Insider Buying and Selling

In related news, Director Timothy J. Scannell sold 3,300 shares of the firm’s stock in a transaction on Tuesday, May 28th. The stock was sold at an average price of $180.90, for a total value of $596,970.00. Following the completion of the transaction, the director now directly owns 42,586 shares of the company’s stock, valued at $7,703,807.40. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Insulet news, SVP Mark N. Field sold 2,131 shares of Insulet stock in a transaction on Monday, June 10th. The stock was sold at an average price of $190.43, for a total transaction of $405,806.33. Following the completion of the transaction, the senior vice president now directly owns 14,375 shares of the company’s stock, valued at $2,737,431.25. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Timothy J. Scannell sold 3,300 shares of Insulet stock in a transaction on Tuesday, May 28th. The shares were sold at an average price of $180.90, for a total value of $596,970.00. Following the transaction, the director now directly owns 42,586 shares of the company’s stock, valued at $7,703,807.40. The disclosure for this sale can be found here. Insiders sold a total of 13,931 shares of company stock valued at $2,636,286 over the last ninety days. 0.47% of the stock is owned by company insiders.

Insulet Stock Performance

Shares of PODD traded down $0.47 during mid-day trading on Thursday, hitting $196.72. The company’s stock had a trading volume of 266,689 shares, compared to its average volume of 722,837. Insulet Co. has a one year low of $125.82 and a one year high of $293.64. The company has a debt-to-equity ratio of 1.72, a quick ratio of 2.75 and a current ratio of 3.74. The firm has a market capitalization of $13.78 billion, a PE ratio of 59.61, a price-to-earnings-growth ratio of 3.55 and a beta of 1.16. The stock’s 50-day moving average is $185.42 and its two-hundred day moving average is $186.27.

Insulet (NASDAQ:PODD) last posted its quarterly earnings data on Thursday, May 9th. The medical instruments supplier reported $0.73 earnings per share for the quarter, beating the consensus estimate of $0.39 by $0.34. The company had revenue of $441.70 million during the quarter, compared to analysts’ expectations of $424.05 million. Insulet had a return on equity of 34.06% and a net margin of 13.14%. Insulet’s revenue for the quarter was up 23.3% compared to the same quarter last year. During the same period in the prior year, the business earned $0.23 earnings per share. As a group, sell-side analysts anticipate that Insulet Co. will post 3.11 EPS for the current year.

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.