Swiss National Bank decreased its position in shares of Insulet Co. (NASDAQ:PODD - Free Report) by 4.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 198,100 shares of the medical instruments supplier's stock after selling 9,200 shares during the quarter. Swiss National Bank owned 0.28% of Insulet worth $51,718,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also recently modified their holdings of the company. Venturi Wealth Management LLC lifted its holdings in Insulet by 633.3% in the third quarter. Venturi Wealth Management LLC now owns 154 shares of the medical instruments supplier's stock valued at $36,000 after acquiring an additional 133 shares during the period. SBI Securities Co. Ltd. acquired a new position in Insulet during the fourth quarter worth about $36,000. SRS Capital Advisors Inc. boosted its position in Insulet by 43.1% during the fourth quarter. SRS Capital Advisors Inc. now owns 186 shares of the medical instruments supplier's stock worth $49,000 after acquiring an additional 56 shares during the last quarter. TD Private Client Wealth LLC boosted its position in Insulet by 32.6% during the third quarter. TD Private Client Wealth LLC now owns 228 shares of the medical instruments supplier's stock worth $53,000 after acquiring an additional 56 shares during the last quarter. Finally, Friedenthal Financial acquired a new position in Insulet during the fourth quarter worth about $57,000.
Insider Activity at Insulet
In related news, EVP Eric Benjamin sold 12,394 shares of the stock in a transaction dated Tuesday, January 21st. The shares were sold at an average price of $280.00, for a total value of $3,470,320.00. Following the sale, the executive vice president now directly owns 11,383 shares of the company's stock, valued at approximately $3,187,240. This represents a 52.13 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.47% of the stock is owned by corporate insiders.
Analyst Upgrades and Downgrades
A number of equities analysts have commented on the stock. TD Cowen lifted their target price on shares of Insulet from $264.00 to $324.00 and gave the stock a "buy" rating in a research note on Friday, January 3rd. Royal Bank of Canada assumed coverage on shares of Insulet in a research note on Thursday, March 6th. They set an "outperform" rating and a $340.00 target price on the stock. Stifel Nicolaus upped their target price on shares of Insulet from $245.00 to $293.00 and gave the stock a "hold" rating in a research note on Friday, February 21st. Raymond James reiterated an "outperform" rating and set a $328.00 price target (up previously from $294.00) on shares of Insulet in a report on Friday, February 21st. Finally, Citigroup boosted their price target on shares of Insulet from $310.00 to $355.00 and gave the stock a "buy" rating in a report on Friday, February 21st. Four research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company's stock. According to MarketBeat.com, Insulet has an average rating of "Moderate Buy" and an average target price of $292.06.
Check Out Our Latest Analysis on Insulet
Insulet Stock Performance
Insulet stock traded up $5.35 during trading hours on Wednesday, reaching $265.82. 588,392 shares of the stock were exchanged, compared to its average volume of 689,494. The stock has a market cap of $18.67 billion, a P/E ratio of 45.91, a P/E/G ratio of 3.62 and a beta of 1.29. The company has a debt-to-equity ratio of 1.21, a quick ratio of 2.80 and a current ratio of 3.68. Insulet Co. has a 52-week low of $160.19 and a 52-week high of $289.46. The firm's 50 day moving average is $272.30 and its 200 day moving average is $256.12.
Insulet (NASDAQ:PODD - Get Free Report) last announced its quarterly earnings results on Thursday, February 20th. The medical instruments supplier reported $1.15 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.00 by $0.15. The business had revenue of $597.50 million during the quarter, compared to the consensus estimate of $582.02 million. Insulet had a net margin of 20.19% and a return on equity of 24.46%. Analysts predict that Insulet Co. will post 3.92 EPS for the current fiscal year.
Insulet Company Profile
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Free Report)
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.
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