Insulet Co. (NASDAQ:PODD) Stake Reduced by Zurcher Kantonalbank Zurich Cantonalbank

Zurcher Kantonalbank Zurich Cantonalbank cut its holdings in Insulet Co. (NASDAQ:PODD) by 40.4% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 32,288 shares of the medical instruments supplier’s stock after selling 21,870 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Insulet were worth $6,516,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. FourThought Financial Partners LLC increased its stake in Insulet by 1.4% in the 4th quarter. FourThought Financial Partners LLC now owns 4,461 shares of the medical instruments supplier’s stock worth $968,000 after purchasing an additional 61 shares in the last quarter. Moody National Bank Trust Division increased its stake in Insulet by 2.6% in the 1st quarter. Moody National Bank Trust Division now owns 3,439 shares of the medical instruments supplier’s stock worth $589,000 after purchasing an additional 87 shares in the last quarter. Motley Fool Asset Management LLC increased its stake in Insulet by 7.1% in the 1st quarter. Motley Fool Asset Management LLC now owns 1,397 shares of the medical instruments supplier’s stock worth $239,000 after purchasing an additional 93 shares in the last quarter. State of Michigan Retirement System grew its stake in Insulet by 0.5% during the 2nd quarter. State of Michigan Retirement System now owns 19,200 shares of the medical instruments supplier’s stock valued at $3,875,000 after acquiring an additional 100 shares in the last quarter. Finally, Van ECK Associates Corp grew its stake in Insulet by 2.8% during the 4th quarter. Van ECK Associates Corp now owns 3,718 shares of the medical instruments supplier’s stock valued at $807,000 after acquiring an additional 103 shares in the last quarter.

Insulet Stock Performance

Shares of PODD traded down $2.66 on Friday, reaching $202.49. 173,156 shares of the stock traded hands, compared to its average volume of 832,204. The firm has a market cap of $14.18 billion, a price-to-earnings ratio of 61.36, a P/E/G ratio of 3.62 and a beta of 1.16. The company has a debt-to-equity ratio of 1.36, a current ratio of 3.60 and a quick ratio of 2.71. Insulet Co. has a 12 month low of $125.82 and a 12 month high of $223.56. The stock’s 50-day moving average price is $195.62 and its 200-day moving average price is $183.54.

Insulet (NASDAQ:PODD) last released its quarterly earnings data on Thursday, August 8th. The medical instruments supplier reported $0.55 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.56 by ($0.01). The firm had revenue of $488.50 million for the quarter, compared to the consensus estimate of $488.00 million. Insulet had a net margin of 21.11% and a return on equity of 30.73%. The business’s revenue for the quarter was up 23.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.38 earnings per share. Equities analysts forecast that Insulet Co. will post 3.04 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the company. Redburn Atlantic assumed coverage on Insulet in a research note on Thursday, May 30th. They set a “buy” rating and a $235.00 target price on the stock. Canaccord Genuity Group reissued a “buy” rating and issued a $234.00 price target on shares of Insulet in a research note on Tuesday, July 23rd. Raymond James lowered their price target on Insulet from $218.00 to $213.00 and set an “outperform” rating for the company in a research note on Friday, May 10th. UBS Group boosted their price target on Insulet from $211.00 to $223.00 and gave the company a “neutral” rating in a research note on Friday, August 9th. Finally, Wolfe Research raised Insulet from a “peer perform” rating to an “outperform” rating and set a $200.00 price target for the company in a research note on Tuesday, May 7th. Four analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat, Insulet currently has an average rating of “Moderate Buy” and a consensus price target of $225.29.

Insider Activity

In other Insulet news, Director Timothy J. Scannell sold 7,000 shares of the company’s stock in a transaction on Monday, June 10th. The stock was sold at an average price of $190.51, for a total value of $1,333,570.00. Following the sale, the director now directly owns 35,586 shares in the company, valued at $6,779,488.86. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Insulet news, Director Timothy J. Scannell sold 7,000 shares of the company’s stock in a transaction on Monday, June 10th. The stock was sold at an average price of $190.51, for a total value of $1,333,570.00. Following the sale, the director now directly owns 35,586 shares in the company, valued at $6,779,488.86. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Mark N. Field sold 1,500 shares of the company’s stock in a transaction on Friday, June 14th. The shares were sold at an average price of $199.96, for a total value of $299,940.00. Following the completion of the sale, the senior vice president now owns 12,875 shares in the company, valued at $2,574,485. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 10,631 shares of company stock worth $2,039,316. Company insiders own 0.47% of the company’s stock.

About Insulet

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.