Insulet Corporation (NASDAQ:PODD) Stock Position Boosted by Banque Pictet & Cie SA

Banque Pictet & Cie SA lifted its position in shares of Insulet Corporation (NASDAQ:PODD - Free Report) by 129.9% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,529 shares of the medical instruments supplier's stock after purchasing an additional 1,429 shares during the period. Banque Pictet & Cie SA's holdings in Insulet were worth $664,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the company. Geode Capital Management LLC lifted its position in shares of Insulet by 2.3% during the fourth quarter. Geode Capital Management LLC now owns 1,779,167 shares of the medical instruments supplier's stock worth $463,347,000 after purchasing an additional 40,566 shares in the last quarter. Norges Bank acquired a new position in shares of Insulet during the fourth quarter worth $248,806,000. Artisan Partners Limited Partnership lifted its position in shares of Insulet by 24.1% during the fourth quarter. Artisan Partners Limited Partnership now owns 770,188 shares of the medical instruments supplier's stock worth $201,073,000 after purchasing an additional 149,524 shares in the last quarter. Northern Trust Corp lifted its position in shares of Insulet by 20.5% during the fourth quarter. Northern Trust Corp now owns 738,811 shares of the medical instruments supplier's stock worth $192,881,000 after purchasing an additional 125,710 shares in the last quarter. Finally, GAMMA Investing LLC raised its holdings in Insulet by 27,298.6% in the first quarter. GAMMA Investing LLC now owns 664,141 shares of the medical instruments supplier's stock valued at $1,744,100,000 after acquiring an additional 661,717 shares in the last quarter.

Wall Street Analyst Weigh In

Several analysts recently issued reports on PODD shares. Oppenheimer upped their price target on shares of Insulet from $312.00 to $324.00 and gave the company an "outperform" rating in a report on Friday, May 9th. Barclays upped their price target on shares of Insulet from $234.00 to $266.00 and gave the company an "equal weight" rating in a report on Wednesday, April 30th. Wall Street Zen cut shares of Insulet from a "buy" rating to a "hold" rating in a report on Saturday, June 14th. Citigroup reaffirmed a "buy" rating on shares of Insulet in a report on Tuesday. Finally, The Goldman Sachs Group started coverage on shares of Insulet in a report on Friday, May 30th. They issued a "buy" rating and a $380.00 price target on the stock. Four equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $321.00.

Insulet Stock Performance

Shares of Insulet stock traded down $8.08 during trading on Friday, hitting $289.32. 507,503 shares of the stock were exchanged, compared to its average volume of 720,913. The stock's fifty day moving average is $306.65 and its 200 day moving average is $279.85. The stock has a market cap of $20.36 billion, a PE ratio of 52.04, a P/E/G ratio of 2.65 and a beta of 1.35. The company has a debt-to-equity ratio of 1.21, a quick ratio of 3.63 and a current ratio of 4.47. Insulet Corporation has a 12 month low of $173.00 and a 12 month high of $329.33.

Insulet (NASDAQ:PODD - Get Free Report) last released its quarterly earnings results on Thursday, May 8th. The medical instruments supplier reported $1.02 EPS for the quarter, topping the consensus estimate of $0.81 by $0.21. The business had revenue of $569.00 million during the quarter, compared to analyst estimates of $543.20 million. Insulet had a net margin of 18.29% and a return on equity of 22.25%. The company's quarterly revenue was up 28.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.73 earnings per share. As a group, sell-side analysts anticipate that Insulet Corporation will post 3.92 EPS for the current year.

Insider Activity at Insulet

In other news, SVP John W. Kapples sold 5,278 shares of the company's stock in a transaction dated Wednesday, May 14th. The shares were sold at an average price of $318.47, for a total transaction of $1,680,884.66. Following the completion of the transaction, the senior vice president owned 23,180 shares in the company, valued at approximately $7,382,134.60. This represents a 18.55% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.39% of the company's stock.

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.