Mitsubishi UFJ Asset Management Co. Ltd. Boosts Stake in Insulet Co. (NASDAQ:PODD)

Mitsubishi UFJ Asset Management Co. Ltd. boosted its position in Insulet Co. (NASDAQ:PODD - Free Report) by 12.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 111,444 shares of the medical instruments supplier's stock after purchasing an additional 12,206 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. owned 0.16% of Insulet worth $29,678,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of PODD. SBI Securities Co. Ltd. bought a new position in shares of Insulet during the fourth quarter valued at $36,000. SRS Capital Advisors Inc. raised its position in Insulet by 43.1% during the 4th 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 during the last quarter. TD Private Client Wealth LLC lifted its holdings in Insulet by 32.6% during the 3rd quarter. TD Private Client Wealth LLC now owns 228 shares of the medical instruments supplier's stock worth $53,000 after buying an additional 56 shares during the period. Friedenthal Financial bought a new stake in shares of Insulet in the 4th quarter valued at about $57,000. Finally, Assetmark Inc. increased its stake in shares of 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 buying an additional 246 shares during the period.

Insider Activity

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

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Insulet Stock Down 4.5 %

Insulet stock traded down $11.54 during mid-day trading on Friday, reaching $245.26. The stock had a trading volume of 1,337,197 shares, compared to its average volume of 713,214. The firm has a market capitalization of $17.22 billion, a PE ratio of 42.36, a price-to-earnings-growth ratio of 3.62 and a beta of 1.30. Insulet Co. has a fifty-two week low of $160.19 and a fifty-two week high of $289.46. The stock's 50-day simple moving average is $269.86 and its 200-day simple moving average is $259.53. 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 - Get Free Report) last posted its quarterly earnings results on Thursday, February 20th. The medical instruments supplier reported $1.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.00 by $0.15. The business had revenue of $597.50 million during the quarter, compared to the consensus estimate of $582.02 million. Insulet had a net margin of 20.19% and a return on equity of 24.46%. On average, sell-side analysts forecast that Insulet Co. will post 3.92 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts recently commented on PODD shares. Canaccord Genuity Group lifted their price objective on Insulet from $304.00 to $324.00 and gave the stock a "buy" rating in a research note on Friday, February 21st. Stifel Nicolaus boosted their price target on shares of Insulet from $245.00 to $293.00 and gave the stock a "hold" rating in a research report on Friday, February 21st. Piper Sandler increased their price objective on shares of Insulet from $285.00 to $310.00 and gave the stock an "overweight" rating in a research report on Friday, February 21st. Raymond James restated an "outperform" rating and issued a $328.00 target price (up previously from $294.00) on shares of Insulet in a report on Friday, February 21st. Finally, Royal Bank of Canada started coverage on Insulet in a report on Thursday, March 6th. They set an "outperform" rating and a $340.00 price target for the company. Four investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat, Insulet currently has an average rating of "Moderate Buy" and a consensus price target of $292.06.

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.