Kayne Anderson Rudnick Investment Management LLC Lowers Stock Holdings in Insulet Co. (NASDAQ:PODD)

Kayne Anderson Rudnick Investment Management LLC lessened its holdings in shares of Insulet Co. (NASDAQ:PODD) by 2.2% during the second quarter, HoldingsChannel reports. The firm owned 11,973 shares of the medical instruments supplier’s stock after selling 264 shares during the quarter. Kayne Anderson Rudnick Investment Management LLC’s holdings in Insulet were worth $2,416,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Orion Portfolio Solutions LLC lifted its position in Insulet by 276.6% during the fourth quarter. Orion Portfolio Solutions LLC now owns 10,221 shares of the medical instruments supplier’s stock worth $2,069,000 after buying an additional 7,507 shares during the period. Diversified Trust Co boosted its position in shares of Insulet by 90.9% in the second quarter. Diversified Trust Co now owns 9,130 shares of the medical instruments supplier’s stock worth $1,842,000 after acquiring an additional 4,348 shares during the last quarter. SG Americas Securities LLC grew its holdings in Insulet by 349.3% in the first quarter. SG Americas Securities LLC now owns 29,575 shares of the medical instruments supplier’s stock valued at $5,069,000 after purchasing an additional 22,993 shares during the period. Allianz Asset Management GmbH increased its position in Insulet by 85.1% during the fourth quarter. Allianz Asset Management GmbH now owns 108,109 shares of the medical instruments supplier’s stock worth $23,457,000 after purchasing an additional 49,715 shares during the last quarter. Finally, Duality Advisers LP increased its position in Insulet by 89.4% during the first quarter. Duality Advisers LP now owns 19,131 shares of the medical instruments supplier’s stock worth $3,279,000 after purchasing an additional 9,029 shares during the last quarter.

Analyst Upgrades and Downgrades

PODD has been the subject of several research reports. Barclays boosted their price objective on shares of Insulet from $200.00 to $220.00 and gave the company an “equal weight” rating in a research note on Monday, August 12th. Redburn Atlantic began coverage on Insulet in a research report on Thursday, May 30th. They set a “buy” rating and a $235.00 price target for the company. BTIG Research cut their price objective on Insulet from $270.00 to $250.00 and set a “buy” rating on the stock in a report on Friday, August 9th. Canaccord Genuity Group reiterated a “buy” rating and set a $234.00 target price on shares of Insulet in a report on Tuesday, July 23rd. Finally, UBS Group increased their target price on shares of Insulet from $211.00 to $223.00 and gave the stock a “neutral” rating in a research report on Friday, August 9th. Four research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Insulet has an average rating of “Moderate Buy” and an average price target of $229.21.

Insulet Stock Performance

NASDAQ:PODD opened at $236.58 on Monday. The firm has a 50-day moving average of $202.88 and a two-hundred day moving average of $188.48. The company has a debt-to-equity ratio of 1.36, a current ratio of 3.60 and a quick ratio of 2.71. The stock has a market cap of $16.59 billion, a P/E ratio of 71.69, a PEG ratio of 4.38 and a beta of 1.21. Insulet Co. has a 1-year low of $125.82 and a 1-year high of $243.98.

Insulet (NASDAQ:PODD) last issued its quarterly earnings results on Thursday, August 8th. The medical instruments supplier reported $0.55 EPS for the quarter, missing analysts’ consensus estimates of $0.56 by ($0.01). Insulet had a net margin of 21.11% and a return on equity of 30.73%. The business had revenue of $488.50 million during the quarter, compared to analysts’ expectations of $488.00 million. During the same period in the prior year, the company posted $0.38 EPS. The company’s revenue for the quarter was up 23.2% on a year-over-year basis. On average, research analysts expect that Insulet Co. will post 3.04 earnings per share 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.