Swiss National Bank Sells 5,900 Shares of Insulet Co. (NASDAQ:PODD)

Swiss National Bank cut its stake in shares of Insulet Co. (NASDAQ:PODD) by 2.6% in the fourth quarter, Holdings Channel reports. The fund owned 218,300 shares of the medical instruments supplier’s stock after selling 5,900 shares during the period. Swiss National Bank’s holdings in Insulet were worth $47,367,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Cambridge Investment Research Advisors Inc. boosted its holdings in shares of Insulet by 18.2% in the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 3,024 shares of the medical instruments supplier’s stock worth $482,000 after acquiring an additional 466 shares in the last quarter. Raymond James & Associates grew its holdings in shares of Insulet by 3.8% during the third quarter. Raymond James & Associates now owns 56,215 shares of the medical instruments supplier’s stock worth $8,966,000 after purchasing an additional 2,041 shares during the last quarter. Brown Advisory Inc. bought a new stake in shares of Insulet during the third quarter worth $2,363,000. Forsta AP Fonden raised its holdings in shares of Insulet by 2.7% in the third quarter. Forsta AP Fonden now owns 15,300 shares of the medical instruments supplier’s stock valued at $2,440,000 after buying an additional 400 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its position in Insulet by 9.7% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 14,637 shares of the medical instruments supplier’s stock worth $2,334,000 after buying an additional 1,289 shares in the last quarter.

Wall Street Analyst Weigh In

Several brokerages have issued reports on PODD. Piper Sandler lowered their price target on Insulet from $250.00 to $230.00 and set an “overweight” rating for the company in a report on Friday, February 23rd. JPMorgan Chase & Co. lifted their price target on shares of Insulet from $190.00 to $225.00 and gave the company an “overweight” rating in a research note on Friday, February 23rd. Stifel Nicolaus raised their price objective on shares of Insulet from $163.00 to $208.00 and gave the stock a “hold” rating in a report on Monday, February 5th. Finally, Barclays cut their price objective on shares of Insulet from $214.00 to $213.00 and set an “equal weight” rating on the stock in a research report on Monday, February 26th. Four analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $243.21.

Insulet Price Performance

Shares of NASDAQ PODD opened at $176.40 on Tuesday. The company has a quick ratio of 2.62, a current ratio of 3.51 and a debt-to-equity ratio of 1.86. The business’s 50 day moving average price is $169.73 and its two-hundred day moving average price is $181.43. The company has a market cap of $12.35 billion, a PE ratio of 60.62, a price-to-earnings-growth ratio of 3.14 and a beta of 1.00. Insulet Co. has a twelve month low of $125.82 and a twelve month high of $331.65.

Insulet (NASDAQ:PODD) last issued its earnings results on Thursday, February 22nd. The medical instruments supplier reported $1.40 EPS for the quarter, topping the consensus estimate of $0.67 by $0.73. Insulet had a return on equity of 32.19% and a net margin of 12.16%. The company had revenue of $509.80 million during the quarter, compared to the consensus estimate of $461.26 million. During the same period in the previous year, the company posted $0.55 EPS. The firm’s revenue for the quarter was up 37.9% compared to the same quarter last year. On average, analysts predict that Insulet Co. will post 3.08 EPS for the current year.

Insider Buying and Selling at Insulet

In other news, Director Shacey Petrovic sold 11,609 shares of the firm’s stock in a transaction dated Wednesday, February 28th. The shares were sold at an average price of $162.92, for a total transaction of $1,891,338.28. Following the completion of the sale, the director now owns 2,567 shares in the company, valued at approximately $418,215.64. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 0.47% of the company’s stock.

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.