Pictet Asset Management Holding SA Reduces Position in Insulet Corporation $PODD

Pictet Asset Management Holding SA decreased its stake in shares of Insulet Corporation (NASDAQ:PODD) by 14.1% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 42,137 shares of the medical instruments supplier’s stock after selling 6,889 shares during the quarter. Pictet Asset Management Holding SA’s holdings in Insulet were worth $11,985,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. True Wealth Design LLC increased its position in Insulet by 288.0% during the third 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 in the last quarter. Whittier Trust Co. of Nevada Inc. increased its position in Insulet by 48.9% during the third quarter. Whittier Trust Co. of Nevada Inc. now owns 131 shares of the medical instruments supplier’s stock worth $40,000 after buying an additional 43 shares in the last quarter. Measured Wealth Private Client Group LLC purchased a new position in Insulet during the third quarter worth $49,000. Quent Capital LLC purchased a new position in Insulet during the third quarter worth $49,000. Finally, Osterweis Capital Management Inc. purchased a new position in Insulet during the second quarter worth $51,000.

Insider Transactions at Insulet

In other news, Director Michael R. Minogue purchased 2,030 shares of the stock in a transaction on Wednesday, February 25th. The stock was purchased at an average price of $246.23 per share, with a total value of $499,846.90. Following the completion of the transaction, the director owned 17,483 shares in the company, valued at approximately $4,304,839.09. The trade was a 13.14% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.36% of the company’s stock.

Insulet Price Performance

Shares of NASDAQ:PODD opened at $175.04 on Friday. The company has a market cap of $12.12 billion, a P/E ratio of 50.01, a P/E/G ratio of 1.05 and a beta of 1.20. The company has a quick ratio of 2.15, a current ratio of 2.81 and a debt-to-equity ratio of 0.61. Insulet Corporation has a 52 week low of $158.35 and a 52 week high of $354.88. The business has a fifty day simple moving average of $216.37 and a 200-day simple moving average of $267.50.

Insulet (NASDAQ:PODD) last announced its quarterly earnings data on Wednesday, February 18th. The medical instruments supplier reported $1.55 EPS for the quarter, beating analysts’ consensus estimates of $1.48 by $0.07. Insulet had a return on equity of 24.90% and a net margin of 9.12%.The business had revenue of $783.80 million during the quarter, compared to the consensus estimate of $768.31 million. During the same quarter in the previous year, the business earned $1.15 earnings per share. The business’s revenue for the quarter was up 31.2% on a year-over-year basis. Equities research analysts forecast that Insulet Corporation will post 6.27 EPS for the current year.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on PODD shares. Barclays reaffirmed an “underweight” rating and issued a $286.00 price objective on shares of Insulet in a research report on Thursday, February 19th. TD Cowen downgraded Insulet from a “buy” rating to a “hold” rating and set a $294.00 price objective for the company. in a research report on Monday, January 26th. Zacks Research downgraded Insulet from a “strong-buy” rating to a “hold” rating in a research report on Monday, January 5th. Evercore lowered their price objective on Insulet from $340.00 to $240.00 and set an “outperform” rating for the company in a research report on Monday, April 6th. Finally, Rothschild & Co Redburn reaffirmed a “neutral” rating and issued a $220.00 price objective (down from $380.00) on shares of Insulet in a research report on Friday, April 24th. Eighteen research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Insulet presently has a consensus rating of “Moderate Buy” and an average target price of $327.24.

About Insulet

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.