Mitsubishi UFJ Trust & Banking Corp Has $23.42 Million Stake in Insulet Co. (NASDAQ:PODD)

Mitsubishi UFJ Trust & Banking Corp reduced its stake in Insulet Co. (NASDAQ:PODD - Free Report) by 9.5% in the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 89,722 shares of the medical instruments supplier's stock after selling 9,427 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp owned approximately 0.13% of Insulet worth $23,424,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Intech Investment Management LLC bought a new stake in Insulet during the third quarter valued at about $224,000. Cerity Partners LLC boosted its stake in Insulet by 78.5% during the 3rd quarter. Cerity Partners LLC now owns 10,193 shares of the medical instruments supplier's stock valued at $2,372,000 after purchasing an additional 4,484 shares during the period. Swedbank AB boosted its stake in Insulet by 3.2% during the 3rd quarter. Swedbank AB now owns 21,232 shares of the medical instruments supplier's stock valued at $4,942,000 after purchasing an additional 655 shares during the period. Daiwa Securities Group Inc. grew its holdings in Insulet by 8.5% in the 3rd quarter. Daiwa Securities Group Inc. now owns 12,378 shares of the medical instruments supplier's stock valued at $2,881,000 after buying an additional 973 shares during the last quarter. Finally, Independent Advisor Alliance bought a new position in Insulet in the 3rd quarter worth approximately $266,000.

Insiders Place Their Bets

In other Insulet news, Director Wayne A.I. Frederick sold 1,825 shares of the company's stock in a transaction dated Tuesday, March 25th. The shares were sold at an average price of $275.00, for a total transaction of $501,875.00. Following the transaction, the director now directly owns 3,231 shares in the company, valued at approximately $888,525. This represents a 36.10 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Eric Benjamin sold 12,394 shares of the firm's stock in a transaction dated Tuesday, January 21st. The shares were sold at an average price of $280.00, for a total transaction of $3,470,320.00. Following the completion of the transaction, the executive vice president now directly owns 11,383 shares in the company, valued at $3,187,240. This trade represents a 52.13 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.47% of the company's stock.

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Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on PODD shares. Wells Fargo & Company raised their price objective on shares of Insulet from $305.00 to $322.00 and gave the stock an "overweight" rating in a research note on Friday, February 21st. Stifel Nicolaus boosted their price objective on shares of Insulet from $245.00 to $293.00 and gave the stock a "hold" rating in a report on Friday, February 21st. Raymond James reiterated an "outperform" rating and issued a $328.00 target price (up previously from $294.00) on shares of Insulet in a research note on Friday, February 21st. Piper Sandler boosted their price target on Insulet from $285.00 to $310.00 and gave the company an "overweight" rating in a research note on Friday, February 21st. Finally, Canaccord Genuity Group upped their price target on Insulet from $304.00 to $324.00 and gave the company a "buy" rating in a report on Friday, February 21st. Four analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $292.06.

Insulet Price Performance

Shares of NASDAQ:PODD traded up $0.57 during trading on Tuesday, reaching $263.18. The stock had a trading volume of 564,498 shares, compared to its average volume of 706,371. The company has a debt-to-equity ratio of 1.21, a current ratio of 3.68 and a quick ratio of 2.80. The stock has a market capitalization of $18.48 billion, a PE ratio of 45.45, a P/E/G ratio of 3.62 and a beta of 1.29. The business's 50-day moving average price is $271.17 and its 200 day moving average price is $259.40. Insulet Co. has a 52 week low of $160.19 and a 52 week high of $289.46.

Insulet (NASDAQ:PODD - Get Free Report) last posted its quarterly earnings data on Thursday, February 20th. The medical instruments supplier reported $1.15 earnings per share for the quarter, beating the consensus estimate of $1.00 by $0.15. Insulet had a net margin of 20.19% and a return on equity of 24.46%. The firm had revenue of $597.50 million during the quarter, compared to analysts' expectations of $582.02 million. As a group, equities analysts predict that Insulet Co. will post 3.92 earnings per share for the current year.

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.