Pictet Asset Management Holding SA Has $10.96 Million Position in Insulet Co. (NASDAQ:PODD)

Pictet Asset Management Holding SA increased its holdings in shares of Insulet Co. (NASDAQ:PODD) by 14.6% during the 4th quarter, HoldingsChannel reports. The firm owned 41,989 shares of the medical instruments supplier’s stock after purchasing an additional 5,353 shares during the period. Pictet Asset Management Holding SA’s holdings in Insulet were worth $10,962,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the business. SBI Securities Co. Ltd. bought a new position in Insulet in the fourth quarter valued at approximately $36,000. SRS Capital Advisors Inc. lifted its position in shares of Insulet by 43.1% in the fourth quarter. SRS Capital Advisors Inc. now owns 186 shares of the medical instruments supplier’s stock worth $49,000 after purchasing an additional 56 shares in the last quarter. TD Private Client Wealth LLC lifted its position in shares of Insulet by 32.6% in the third quarter. TD Private Client Wealth LLC now owns 228 shares of the medical instruments supplier’s stock worth $53,000 after purchasing an additional 56 shares in the last quarter. Friedenthal Financial bought a new position in Insulet in the fourth quarter valued at $57,000. Finally, Assetmark Inc. grew its position in Insulet by 1,447.1% in the fourth quarter. Assetmark Inc. now owns 263 shares of the medical instruments supplier’s stock valued at $69,000 after purchasing an additional 246 shares in the last quarter.

Analyst Ratings Changes

PODD has been the subject of a number of recent research reports. Canaccord Genuity Group increased their price objective on shares of Insulet from $304.00 to $324.00 and gave the stock a “buy” rating in a research note on Friday, February 21st. Royal Bank of Canada initiated coverage on shares of Insulet in a research note on Thursday, March 6th. They issued an “outperform” rating and a $340.00 price target for the company. Raymond James reiterated an “outperform” rating and set a $328.00 price target (up previously from $294.00) on shares of Insulet in a report on Friday, February 21st. JPMorgan Chase & Co. raised their price objective on Insulet from $280.00 to $330.00 and gave the company an “overweight” rating in a research report on Thursday, December 12th. Finally, TD Cowen increased their price target on Insulet from $264.00 to $324.00 and gave the company a “buy” rating in a research note on Friday, January 3rd. Four analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $292.06.

Insider Buying and Selling at Insulet

In other news, Director Wayne A.I. Frederick sold 1,825 shares of the stock in a transaction dated Tuesday, March 25th. The shares were sold at an average price of $275.00, for a total value of $501,875.00. Following the completion of the transaction, the director now owns 3,231 shares of the company’s stock, valued at approximately $888,525. This represents a 36.10 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Eric Benjamin sold 12,394 shares of Insulet stock in a transaction that occurred on Tuesday, January 21st. The shares were sold at an average price of $280.00, for a total transaction of $3,470,320.00. Following the sale, the executive vice president now directly owns 11,383 shares in the company, valued at $3,187,240. This trade represents a 52.13 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.47% of the company’s stock.

Insulet Stock Performance

PODD opened at $269.13 on Thursday. The firm has a market cap of $18.90 billion, a P/E ratio of 46.48, a price-to-earnings-growth ratio of 3.62 and a beta of 1.29. The business’s fifty day moving average is $270.97 and its 200-day moving average is $259.47. Insulet Co. has a 52-week low of $160.19 and a 52-week high of $289.46. The company has a debt-to-equity ratio of 1.21, a quick ratio of 2.80 and a current ratio of 3.68.

Insulet (NASDAQ:PODD) last released its earnings results on Thursday, February 20th. The medical instruments supplier reported $1.15 EPS for the quarter, beating the consensus estimate of $1.00 by $0.15. Insulet had a net margin of 20.19% and a return on equity of 24.46%. The firm had revenue of $597.50 million for the quarter, compared to analyst estimates of $582.02 million. Sell-side analysts expect that Insulet Co. will post 3.92 EPS for the current fiscal year.

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.