Zurcher Kantonalbank Zurich Cantonalbank Has $11.71 Million Position in Insulet Co. (NASDAQ:PODD)

Zurcher Kantonalbank Zurich Cantonalbank grew its stake in Insulet Co. (NASDAQ:PODD) by 268.8% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 53,974 shares of the medical instruments supplier’s stock after purchasing an additional 39,337 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank owned about 0.08% of Insulet worth $11,711,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Parkside Financial Bank & Trust boosted its stake in shares of Insulet by 251.0% in the 3rd quarter. Parkside Financial Bank & Trust now owns 172 shares of the medical instruments supplier’s stock valued at $27,000 after purchasing an additional 123 shares in the last quarter. Allworth Financial LP boosted its position in Insulet by 104.5% during the 3rd quarter. Allworth Financial LP now owns 180 shares of the medical instruments supplier’s stock worth $29,000 after buying an additional 92 shares during the period. Wolff Wiese Magana LLC boosted its position in Insulet by 2,680.0% during the 4th quarter. Wolff Wiese Magana LLC now owns 139 shares of the medical instruments supplier’s stock worth $30,000 after buying an additional 134 shares during the period. BluePath Capital Management LLC acquired a new stake in Insulet during the 3rd quarter worth approximately $31,000. Finally, First Manhattan Co. acquired a new stake in Insulet during the 4th quarter worth approximately $35,000.

Analyst Ratings Changes

Several equities research analysts recently commented on the stock. Stifel Nicolaus lifted their target price on shares of Insulet from $163.00 to $208.00 and gave the stock a “hold” rating in a research report on Monday, February 5th. Piper Sandler lowered their price target on shares of Insulet from $250.00 to $230.00 and set an “overweight” rating for the company in a report on Friday, February 23rd. Barclays lowered their price target on shares of Insulet from $214.00 to $213.00 and set an “equal weight” rating for the company in a report on Monday, February 26th. Finally, JPMorgan Chase & Co. raised their price target on shares of Insulet from $190.00 to $225.00 and gave the stock an “overweight” rating in a report on Friday, February 23rd. Four research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat, Insulet has a consensus rating of “Moderate Buy” and an average target price of $243.21.

Insiders Place Their Bets

In related news, Director Shacey Petrovic sold 11,609 shares of the business’s stock in a transaction dated 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 transaction, the director now directly owns 2,567 shares of the company’s stock, valued at approximately $418,215.64. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders own 0.90% of the company’s stock.

Insulet Price Performance

PODD opened at $166.25 on Friday. The company has a debt-to-equity ratio of 1.86, a current ratio of 3.51 and a quick ratio of 2.62. The company has a market capitalization of $11.64 billion, a price-to-earnings ratio of 57.13, a P/E/G ratio of 2.97 and a beta of 0.98. The firm’s fifty day moving average price is $173.97 and its two-hundred day moving average price is $178.81. Insulet Co. has a 1 year low of $125.82 and a 1 year high of $335.91.

Insulet (NASDAQ:PODD) last posted its quarterly earnings data on Thursday, February 22nd. The medical instruments supplier reported $1.40 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.67 by $0.73. The firm had revenue of $509.80 million for the quarter, compared to the consensus estimate of $461.26 million. Insulet had a net margin of 12.16% and a return on equity of 32.19%. The business’s revenue for the quarter was up 37.9% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.55 EPS. As a group, analysts anticipate that Insulet Co. will post 3.08 earnings per share 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.