Swiss National Bank Trims Stake in Insulet Co. (NASDAQ:PODD)

Swiss National Bank cut its stake in Insulet Co. (NASDAQ:PODD - Free Report) by 2.6% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 218,300 shares of the medical instruments supplier's stock after selling 5,900 shares during the quarter. Swiss National Bank owned about 0.31% of Insulet worth $47,367,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in PODD. Qube Research & Technologies Ltd grew its stake in Insulet by 227.3% in the third quarter. Qube Research & Technologies Ltd now owns 386,687 shares of the medical instruments supplier's stock worth $61,673,000 after purchasing an additional 268,553 shares in the last quarter. Assenagon Asset Management S.A. grew its stake in Insulet by 119.1% in the fourth quarter. Assenagon Asset Management S.A. now owns 79,375 shares of the medical instruments supplier's stock worth $17,223,000 after purchasing an additional 43,147 shares in the last quarter. Asset Management One Co. Ltd. grew its stake in Insulet by 33.7% in the fourth quarter. Asset Management One Co. Ltd. now owns 36,677 shares of the medical instruments supplier's stock worth $8,048,000 after purchasing an additional 9,240 shares in the last quarter. Graham Capital Management L.P. grew its stake in Insulet by 689.8% in the third quarter. Graham Capital Management L.P. now owns 23,095 shares of the medical instruments supplier's stock worth $3,683,000 after purchasing an additional 20,171 shares in the last quarter. Finally, Aquila Investment Management LLC acquired a new position in Insulet in the fourth quarter worth about $1,302,000.

Insulet Trading Up 4.5 %

NASDAQ PODD traded up $7.88 during trading hours on Tuesday, hitting $184.28. The company's stock had a trading volume of 1,058,076 shares, compared to its average volume of 848,261. The stock has a fifty day moving average of $169.73 and a 200 day moving average of $181.43. Insulet Co. has a twelve month low of $125.82 and a twelve month high of $331.65. The firm has a market capitalization of $12.90 billion, a P/E ratio of 60.62, a PEG ratio of 3.14 and a beta of 1.00. The company has a quick ratio of 2.62, a current ratio of 3.51 and a debt-to-equity ratio of 1.86.

Insulet (NASDAQ:PODD - Get Free Report) last announced its quarterly earnings results on Thursday, February 22nd. The medical instruments supplier reported $1.40 earnings per share for the quarter, topping analysts' consensus estimates of $0.67 by $0.73. Insulet had a net margin of 12.16% and a return on equity of 32.19%. The company had revenue of $509.80 million for the quarter, compared to analysts' expectations of $461.26 million. During the same period last year, the firm posted $0.55 earnings per share. The business's quarterly revenue was up 37.9% compared to the same quarter last year. Equities research analysts forecast that Insulet Co. will post 3.08 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on PODD. Wolfe Research raised shares of Insulet from a "peer perform" rating to an "outperform" rating and set a $200.00 target price on the stock in a report on Tuesday. JPMorgan Chase & Co. raised their target price on shares of Insulet from $190.00 to $225.00 and gave the stock an "overweight" rating in a report on Friday, February 23rd. Piper Sandler cut their target price on shares of Insulet from $250.00 to $230.00 and set an "overweight" rating on the stock in a report on Friday, February 23rd. Barclays cut their target price on shares of Insulet from $214.00 to $213.00 and set an "equal weight" rating on the stock in a report on Monday, February 26th. Finally, Stifel Nicolaus raised their target price on shares of Insulet from $163.00 to $208.00 and gave the stock a "hold" rating in a report on Monday, February 5th. Four analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $240.33.

Insider Buying and Selling at Insulet

In other Insulet news, Director Shacey Petrovic sold 11,609 shares of Insulet stock in a transaction on Wednesday, February 28th. The shares were sold at an average price of $162.92, for a total value of $1,891,338.28. Following the sale, the director now directly owns 2,567 shares in the company, valued at approximately $418,215.64. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.47% of the company's stock.

Insulet Company 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.