Zurcher Kantonalbank Zurich Cantonalbank Grows Holdings in Insulet Co. (NASDAQ:PODD)

Zurcher Kantonalbank Zurich Cantonalbank increased its position in Insulet Co. (NASDAQ:PODD) by 268.8% during the fourth quarter, HoldingsChannel.com reports. The firm owned 53,974 shares of the medical instruments supplier’s stock after acquiring an additional 39,337 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Insulet were worth $11,711,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the company. Vanguard Group Inc. boosted its stake in Insulet by 1.0% in the 1st quarter. Vanguard Group Inc. now owns 6,203,941 shares of the medical instruments supplier’s stock worth $1,652,668,000 after purchasing an additional 58,932 shares in the last quarter. Clearbridge Investments LLC boosted its stake in Insulet by 38.8% in the 1st quarter. Clearbridge Investments LLC now owns 1,696,822 shares of the medical instruments supplier’s stock worth $452,016,000 after purchasing an additional 474,545 shares in the last quarter. Geode Capital Management LLC boosted its stake in Insulet by 55.4% in the 1st quarter. Geode Capital Management LLC now owns 1,486,725 shares of the medical instruments supplier’s stock worth $473,166,000 after purchasing an additional 529,926 shares in the last quarter. Moneta Group Investment Advisors LLC boosted its stake in Insulet by 101,333.5% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 1,300,377 shares of the medical instruments supplier’s stock worth $382,818,000 after purchasing an additional 1,299,095 shares in the last quarter. Finally, Baillie Gifford & Co. bought a new position in Insulet in the 4th quarter worth about $263,144,000.

Insulet Trading Up 0.9 %

Insulet stock opened at $166.25 on Friday. The firm has a 50 day moving average of $173.97 and a 200 day moving average of $178.81. The firm 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. Insulet Co. has a 12-month low of $125.82 and a 12-month high of $335.91. The company has a current ratio of 3.51, a quick ratio of 2.62 and a debt-to-equity ratio of 1.86.

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

Insider Buying and Selling at Insulet

In other Insulet news, Director Shacey Petrovic sold 11,609 shares of the stock in a transaction that occurred on Wednesday, February 28th. The shares were sold at an average price of $162.92, for a total transaction of $1,891,338.28. Following the completion of the sale, 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 SEC, which is available at this link. Insiders own 0.90% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the stock. Stifel Nicolaus upped their price target on shares of Insulet from $163.00 to $208.00 and gave the stock a “hold” rating in a research note on Monday, February 5th. JPMorgan Chase & Co. upped their target price on shares of Insulet from $190.00 to $225.00 and gave the company an “overweight” rating in a research note on Friday, February 23rd. Piper Sandler lowered their target price on shares of Insulet from $250.00 to $230.00 and set an “overweight” rating on the stock in a research note on Friday, February 23rd. Finally, Barclays lowered their target price on shares of Insulet from $214.00 to $213.00 and set an “equal weight” rating on the stock in a research note on Monday, February 26th. Four investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $243.21.

Insulet Company 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.