Pictet Asset Management Holding SA Increases Holdings in Insulet Co. (NASDAQ:PODD)

Pictet Asset Management Holding SA lifted its holdings in Insulet Co. (NASDAQ:PODD - Free Report) by 14.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 41,989 shares of the medical instruments supplier's stock after acquiring an additional 5,353 shares during the period. Pictet Asset Management Holding SA owned 0.06% of Insulet worth $10,962,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. SBI Securities Co. Ltd. purchased a new stake in shares of Insulet in the fourth quarter valued at $36,000. Sumitomo Mitsui DS Asset Management Company Ltd grew its holdings in Insulet by 30.1% during the 4th quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 8,395 shares of the medical instruments supplier's stock valued at $2,192,000 after purchasing an additional 1,942 shares during the last quarter. Orion Portfolio Solutions LLC raised its position in Insulet by 86.2% in the 3rd quarter. Orion Portfolio Solutions LLC now owns 7,826 shares of the medical instruments supplier's stock worth $1,822,000 after purchasing an additional 3,623 shares during the period. Nomura Asset Management Co. Ltd. lifted its stake in Insulet by 5.7% in the third quarter. Nomura Asset Management Co. Ltd. now owns 153,416 shares of the medical instruments supplier's stock worth $35,708,000 after purchasing an additional 8,301 shares during the last quarter. Finally, Stifel Financial Corp boosted its position in shares of Insulet by 2.8% during the third quarter. Stifel Financial Corp now owns 10,527 shares of the medical instruments supplier's stock valued at $2,450,000 after buying an additional 290 shares during the period.

Remove Ads

Insulet Stock Up 4.5 %

PODD traded up $10.97 on Monday, hitting $256.23. The company had a trading volume of 1,313,052 shares, compared to its average volume of 716,162. The stock has a market capitalization of $17.99 billion, a price-to-earnings ratio of 44.25, a P/E/G ratio of 3.62 and a beta of 1.30. The stock has a fifty day moving average price of $269.47 and a 200-day moving average price of $259.99. Insulet Co. has a 12-month low of $160.19 and a 12-month high of $289.46. 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 (NASDAQ:PODD - Get Free Report) last posted its quarterly earnings data on Thursday, February 20th. The medical instruments supplier reported $1.15 EPS for the quarter, topping the consensus estimate of $1.00 by $0.15. The firm had revenue of $597.50 million during the quarter, compared to analyst estimates 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.

Insider Activity

In other Insulet news, EVP Eric Benjamin sold 12,394 shares of the business's stock in a transaction that occurred on Tuesday, January 21st. The shares were 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 of the company's stock, valued at approximately $3,187,240. The trade was a 52.13 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Wayne A.I. Frederick sold 1,825 shares of the firm's stock in a transaction on Tuesday, March 25th. The stock was sold at an average price of $275.00, for a total transaction of $501,875.00. Following the completion of the transaction, the director now directly owns 3,231 shares of the company's stock, valued at approximately $888,525. This represents a 36.10 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.47% of the company's stock.

Analysts Set New Price Targets

A number of brokerages recently issued reports on PODD. StockNews.com lowered Insulet from a "buy" rating to a "hold" rating in a research note on Tuesday, March 4th. Stifel Nicolaus lifted their target price on Insulet from $245.00 to $293.00 and gave the stock a "hold" rating in a research report on Friday, February 21st. Royal Bank of Canada started coverage on shares of Insulet in a report on Thursday, March 6th. They issued an "outperform" rating and a $340.00 price target on the stock. Wells Fargo & Company lifted their price objective on shares of Insulet from $305.00 to $322.00 and gave the company an "overweight" rating in a report on Friday, February 21st. Finally, Raymond James restated an "outperform" rating and issued a $328.00 target price (up from $294.00) on shares of Insulet in a research note on Friday, February 21st. Four equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat.com, Insulet presently has an average rating of "Moderate Buy" and an average target price of $292.06.

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.