Swiss National Bank Reduces Position in Insulet Corporation $PODD

Swiss National Bank decreased its holdings in Insulet Corporation (NASDAQ:PODD) by 4.6% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 202,800 shares of the medical instruments supplier’s stock after selling 9,800 shares during the period. Swiss National Bank owned 0.29% of Insulet worth $62,610,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. raised its holdings in Insulet by 1.0% during the 3rd quarter. Vanguard Group Inc. now owns 8,796,200 shares of the medical instruments supplier’s stock valued at $2,715,651,000 after acquiring an additional 87,845 shares during the period. Geode Capital Management LLC grew its position in shares of Insulet by 3.1% in the second quarter. Geode Capital Management LLC now owns 1,927,543 shares of the medical instruments supplier’s stock valued at $603,211,000 after purchasing an additional 58,309 shares in the last quarter. Norges Bank bought a new stake in shares of Insulet during the 2nd quarter valued at $324,689,000. Federated Hermes Inc. lifted its holdings in Insulet by 14.3% during the 2nd quarter. Federated Hermes Inc. now owns 723,363 shares of the medical instruments supplier’s stock worth $227,266,000 after purchasing an additional 90,494 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its stake in Insulet by 1.0% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 681,130 shares of the medical instruments supplier’s stock worth $213,997,000 after purchasing an additional 6,763 shares during the period.

Insulet Stock Performance

Insulet stock opened at $238.82 on Thursday. Insulet Corporation has a fifty-two week low of $233.29 and a fifty-two week high of $354.88. The company has a debt-to-equity ratio of 0.61, a quick ratio of 2.15 and a current ratio of 2.81. The stock has a market cap of $16.81 billion, a P/E ratio of 68.23, a price-to-earnings-growth ratio of 1.42 and a beta of 1.42. The firm’s fifty day moving average price is $260.70 and its 200-day moving average price is $298.50.

Insulet (NASDAQ:PODD) last announced its earnings results on Wednesday, February 18th. The medical instruments supplier reported $1.55 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.48 by $0.07. Insulet had a net margin of 9.12% and a return on equity of 24.90%. The company had revenue of $783.80 million during the quarter, compared to analyst estimates of $768.31 million. During the same period in the previous year, the business earned $1.15 earnings per share. The firm’s quarterly revenue was up 31.2% compared to the same quarter last year. On average, equities research analysts expect that Insulet Corporation will post 3.92 earnings per share for the current fiscal year.

Insider Buying and Selling at Insulet

In other Insulet news, Director Michael R. Minogue acquired 2,030 shares of the business’s stock in a transaction dated 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 purchase, the director owned 17,483 shares of the company’s stock, valued at approximately $4,304,839.09. This trade represents a 13.14% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 0.39% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on PODD. The Goldman Sachs Group decreased their price target on Insulet from $363.00 to $326.00 and set a “buy” rating on the stock in a research report on Thursday, February 19th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Insulet in a report on Thursday, January 22nd. TD Cowen downgraded shares of Insulet from a “buy” rating to a “hold” rating and set a $294.00 price target for the company. in a report on Monday, January 26th. Stifel Nicolaus decreased their price target on shares of Insulet from $370.00 to $350.00 and set a “buy” rating on the stock in a report on Wednesday, February 4th. Finally, Leerink Partners dropped their price objective on Insulet from $386.00 to $360.00 and set an “outperform” rating for the company in a research note on Thursday, February 19th. Twenty equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $354.24.

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.