Insulet Corporation $PODD Shares Sold by Pictet Asset Management Holding SA

Key Points

• Pictet Asset Management trimmed its stake in Insulet by 14.1%, selling 6,889 shares and leaving it with 42,137 shares worth about $11.99 million.
• Insulet beat Q1 expectations with $1.55 EPS (vs. $1.48 consensus) and $783.8M in revenue, a 31.2% year-over-year increase.
• Several firms have cut price targets recently, but the stock retains a consensus of "Moderate Buy" with an average target of $327.24, and a director purchased 2,030 shares—signaling some insider confidence.

Pictet Asset Management Holding SA trimmed its stake in shares of Insulet Corporation (NASDAQ:PODD - Free Report) by 14.1% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 42,137 shares of the medical instruments supplier's stock after selling 6,889 shares during the quarter. Pictet Asset Management Holding SA owned about 0.06% of Insulet worth $11,985,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently added to or reduced their stakes in the company. True Wealth Design LLC lifted its position in Insulet by 288.0% during the 3rd quarter. True Wealth Design LLC now owns 97 shares of the medical instruments supplier's stock worth $30,000 after acquiring an additional 72 shares during the period. Whittier Trust Co. of Nevada Inc. lifted its position in Insulet by 48.9% during the 3rd quarter. Whittier Trust Co. of Nevada Inc. now owns 131 shares of the medical instruments supplier's stock worth $40,000 after acquiring an additional 43 shares during the period. Measured Wealth Private Client Group LLC acquired a new stake in shares of Insulet in the 3rd quarter valued at approximately $49,000. Quent Capital LLC acquired a new stake in shares of Insulet in the 3rd quarter valued at approximately $49,000. Finally, Osterweis Capital Management Inc. acquired a new stake in shares of Insulet in the 2nd quarter valued at approximately $51,000.

Insulet Stock Performance

NASDAQ PODD opened at $175.04 on Friday. Insulet Corporation has a 1-year low of $158.35 and a 1-year high of $354.88. The company has a market capitalization of $12.12 billion, a P/E ratio of 50.01, a PEG ratio of 1.05 and a beta of 1.20. The business has a 50 day moving average price of $216.37 and a 200 day moving average price of $267.50. The company has a debt-to-equity ratio of 0.61, a current ratio of 2.81 and a quick ratio of 2.15.

Insulet (NASDAQ:PODD - Get Free Report) last released its quarterly earnings data on Wednesday, February 18th. The medical instruments supplier reported $1.55 earnings per share for the quarter, beating the consensus estimate of $1.48 by $0.07. Insulet had a return on equity of 24.90% and a net margin of 9.12%.The firm had revenue of $783.80 million during the quarter, compared to the consensus estimate of $768.31 million. During the same period last year, the business posted $1.15 EPS. Insulet's quarterly revenue was up 31.2% on a year-over-year basis. Sell-side analysts expect that Insulet Corporation will post 6.27 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms have recently commented on PODD. Evercore reduced their price target on Insulet from $340.00 to $240.00 and set an "outperform" rating for the company in a report on Monday, April 6th. Sanford C. Bernstein decreased their target price on shares of Insulet from $380.00 to $330.00 and set an "outperform" rating on the stock in a research report on Thursday, February 19th. Raymond James Financial lowered their price target on shares of Insulet from $385.00 to $355.00 and set an "outperform" rating on the stock in a research note on Thursday, February 19th. Canaccord Genuity Group cut their price target on shares of Insulet from $450.00 to $435.00 and set a "buy" rating for the company in a report on Wednesday, February 18th. Finally, The Goldman Sachs Group cut their price target on shares of Insulet from $326.00 to $277.00 and set a "buy" rating for the company in a report on Wednesday, April 8th. Eighteen investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $327.24.

Insiders Place Their Bets

In related news, Director Michael R. Minogue purchased 2,030 shares of the company's stock in a transaction on Wednesday, February 25th. The stock was bought at an average price of $246.23 per share, with a total value of $499,846.90. Following the completion of the transaction, the director owned 17,483 shares of the company's stock, valued at approximately $4,304,839.09. This represents a 13.14% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.36% of the company's stock.

Insulet Profile

Insulet Corporation is a medical device company headquartered in Acton, Massachusetts, that develops, manufactures and sells insulin-delivery systems for people with diabetes. The company's core business is the design and commercialization of its Omnipod family of tubeless, wearable insulin pumps and the consumable Pods that deliver insulin. Insulet's products aim to simplify insulin delivery for people with type 1 diabetes and insulin-requiring type 2 diabetes by offering an alternative to traditional insulin pens and tethered pump systems.

The company's product portfolio includes the Omnipod System line—disposable, waterproof Pods that adhere to the skin and deliver insulin—and the associated controllers and mobile applications used to program and monitor insulin delivery.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.