Banque Pictet & Cie SA Purchases New Stake in Insulet Co. (NASDAQ:PODD)

Banque Pictet & Cie SA purchased a new stake in Insulet Co. (NASDAQ:PODD - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 1,100 shares of the medical instruments supplier's stock, valued at approximately $287,000.

Several other large investors have also made changes to their positions in the company. Vontobel Holding Ltd. boosted its position in Insulet by 4.3% during the fourth quarter. Vontobel Holding Ltd. now owns 2,423 shares of the medical instruments supplier's stock worth $633,000 after purchasing an additional 100 shares during the period. Bogart Wealth LLC bought a new stake in Insulet during the fourth quarter worth approximately $6,170,000. Asset Management One Co. Ltd. boosted its position in Insulet by 2.3% during the fourth quarter. Asset Management One Co. Ltd. now owns 26,766 shares of the medical instruments supplier's stock worth $7,096,000 after purchasing an additional 605 shares during the period. Certuity LLC bought a new stake in Insulet during the fourth quarter worth approximately $245,000. Finally, Shaker Investments LLC OH lifted its holdings in shares of Insulet by 83.7% during the fourth quarter. Shaker Investments LLC OH now owns 20,234 shares of the medical instruments supplier's stock worth $5,282,000 after buying an additional 9,222 shares during the last quarter.

Analysts Set New Price Targets

A number of research analysts have recently commented on PODD shares. JPMorgan Chase & Co. upped their price target on Insulet from $280.00 to $330.00 and gave the stock an "overweight" rating in a report on Thursday, December 12th. Sanford C. Bernstein started coverage on Insulet in a report on Wednesday, November 6th. They set an "outperform" rating and a $300.00 price target for the company. Morgan Stanley upped their target price on Insulet from $234.00 to $317.00 and gave the company an "overweight" rating in a research note on Monday, November 11th. BTIG Research upped their target price on Insulet from $260.00 to $270.00 and gave the company a "buy" rating in a research note on Friday, November 8th. Finally, Canaccord Genuity Group upped their target price on Insulet from $269.00 to $304.00 and gave the company a "buy" rating in a research note on Monday, December 9th. Two analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $277.13.

Insider Transactions at Insulet

In other news, EVP Eric Benjamin sold 12,394 shares of the stock in a transaction on Tuesday, January 21st. The stock was sold at an average price of $280.00, for a total transaction of $3,470,320.00. Following the sale, the executive vice president now owns 11,383 shares in the company, valued at approximately $3,187,240. This represents a 52.13 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Lauren Budden sold 915 shares of the stock in a transaction on Tuesday, December 10th. The stock was sold at an average price of $275.62, for a total value of $252,192.30. Following the sale, the chief accounting officer now owns 5,733 shares in the company, valued at $1,580,129.46. The trade was a 13.76 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.47% of the company's stock.

Insulet Price Performance

NASDAQ:PODD traded up $2.97 during trading hours on Wednesday, reaching $283.68. The company had a trading volume of 741,999 shares, compared to its average volume of 539,353. The stock has a 50-day moving average of $272.17 and a two-hundred day moving average of $245.91. The company has a quick ratio of 2.80, a current ratio of 3.68 and a debt-to-equity ratio of 1.21. The firm has a market capitalization of $19.90 billion, a PE ratio of 48.58, a PEG ratio of 3.52 and a beta of 1.23. Insulet Co. has a one year low of $160.19 and a one year high of $289.46.

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.