Swiss National Bank Decreases Stock Holdings in Insulet Corporation $PODD

Swiss National Bank decreased its position in Insulet Corporation (NASDAQ:PODD) by 4.6% during the third quarter, Holdings Channel.com reports. The fund owned 202,800 shares of the medical instruments supplier’s stock after selling 9,800 shares during the quarter. Swiss National Bank’s holdings in Insulet were worth $62,610,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of PODD. True Wealth Design LLC grew its position in shares of Insulet by 288.0% in the 3rd quarter. True Wealth Design LLC now owns 97 shares of the medical instruments supplier’s stock worth $30,000 after buying an additional 72 shares during the last quarter. Whittier Trust Co. of Nevada Inc. boosted its stake in shares of 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 valued at $40,000 after purchasing an additional 43 shares in the last quarter. Quent Capital LLC purchased a new position in shares of Insulet during the third quarter valued at about $49,000. Osterweis Capital Management Inc. purchased a new stake in Insulet in the second quarter worth about $51,000. Finally, Zions Bancorporation National Association UT grew its holdings in shares of Insulet by 57.3% during the 3rd quarter. Zions Bancorporation National Association UT now owns 173 shares of the medical instruments supplier’s stock worth $53,000 after acquiring an additional 63 shares during the period.

Insulet Stock Up 0.2%

PODD opened at $238.82 on Thursday. Insulet Corporation has a 1-year low of $233.29 and a 1-year high of $354.88. The firm’s 50 day simple moving average is $260.70 and its two-hundred day simple moving average is $298.50. The company has a current ratio of 2.81, a quick ratio of 2.15 and a debt-to-equity ratio of 0.61. The company has a market capitalization of $16.81 billion, a PE ratio of 68.23, a PEG ratio of 1.42 and a beta of 1.42.

Insulet (NASDAQ:PODD) last released its earnings results 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 company had revenue of $783.80 million for the quarter, compared to the consensus estimate of $768.31 million. During the same period in the previous year, the business earned $1.15 earnings per share. Insulet’s quarterly revenue was up 31.2% compared to the same quarter last year. As a group, equities analysts forecast that Insulet Corporation will post 3.92 EPS for the current year.

Insider Activity at Insulet

In other news, Director Michael R. Minogue bought 2,030 shares of the company’s stock in a transaction that occurred 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 acquisition, 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 filing with the Securities & Exchange Commission, which is available through this link. 0.39% of the stock is owned by insiders.

Analyst Ratings Changes

PODD has been the subject of a number of research reports. JPMorgan Chase & Co. decreased their price objective on Insulet from $415.00 to $340.00 and set an “overweight” rating for the company in a report on Thursday, February 19th. Zacks Research cut Insulet from a “strong-buy” rating to a “hold” rating in a research report on Monday, January 5th. Truist Financial lowered their price objective on Insulet from $390.00 to $360.00 and set a “buy” rating for the company in a research note on Thursday, February 19th. Royal Bank Of Canada lifted their target price on shares of Insulet from $370.00 to $380.00 and gave the stock an “outperform” rating in a report on Friday, November 21st. Finally, The Goldman Sachs Group cut their price target on shares of Insulet from $363.00 to $326.00 and set a “buy” rating on the stock in a report on Thursday, February 19th. Twenty analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Insulet currently has an average rating of “Moderate Buy” and an average price target 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.