Resona Asset Management Co. Ltd. Buys New Shares in Insulet Co. (NASDAQ:PODD)

Resona Asset Management Co. Ltd. acquired a new stake in shares of Insulet Co. (NASDAQ:PODD - Free Report) in the 4th quarter, according to its most recent 13F filing with the SEC. The fund acquired 24,710 shares of the medical instruments supplier's stock, valued at approximately $6,469,000.

Several other large investors have also made changes to their positions in the business. Captrust Financial Advisors boosted its holdings in Insulet by 5.1% in the third quarter. Captrust Financial Advisors now owns 1,760 shares of the medical instruments supplier's stock valued at $410,000 after purchasing an additional 86 shares during the last quarter. Janus Henderson Group PLC grew its holdings in Insulet by 14.6% during the third quarter. Janus Henderson Group PLC now owns 7,335 shares of the medical instruments supplier's stock worth $1,706,000 after acquiring an additional 935 shares during the period. Integrated Wealth Concepts LLC grew its holdings in Insulet by 1.7% during the third quarter. Integrated Wealth Concepts LLC now owns 2,561 shares of the medical instruments supplier's stock worth $596,000 after acquiring an additional 42 shares during the period. Royal London Asset Management Ltd. raised its position in Insulet by 2.9% during the third quarter. Royal London Asset Management Ltd. now owns 28,711 shares of the medical instruments supplier's stock valued at $6,682,000 after acquiring an additional 814 shares in the last quarter. Finally, Quarry LP lifted its holdings in Insulet by 26.4% in the third quarter. Quarry LP now owns 354 shares of the medical instruments supplier's stock valued at $82,000 after acquiring an additional 74 shares during the period.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on PODD shares. Stifel Nicolaus lifted their target price on shares of Insulet from $245.00 to $293.00 and gave the company a "hold" rating in a report on Friday, February 21st. TD Cowen lifted their price objective on shares of Insulet from $264.00 to $324.00 and gave the company a "buy" rating in a report on Friday, January 3rd. StockNews.com lowered shares of Insulet from a "buy" rating to a "hold" rating in a research note on Tuesday, March 4th. Royal Bank of Canada began coverage on Insulet in a research note on Thursday, March 6th. They issued an "outperform" rating and a $340.00 price target for the company. Finally, Raymond James reiterated an "outperform" rating and set a $328.00 price target (up previously from $294.00) on shares of Insulet in a research report on Friday, February 21st. Four investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $292.06.

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Insulet Price Performance

Shares of Insulet stock traded up $2.52 on Friday, hitting $253.99. 596,739 shares of the company were exchanged, compared to its average volume of 718,987. Insulet Co. has a 1-year low of $160.19 and a 1-year high of $289.46. The company has a quick ratio of 2.80, a current ratio of 3.68 and a debt-to-equity ratio of 1.21. The stock has a market capitalization of $17.84 billion, a price-to-earnings ratio of 43.87, a price-to-earnings-growth ratio of 3.62 and a beta of 1.30. The company has a 50-day moving average price of $266.67 and a 200 day moving average price of $260.56.

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

Insider Activity

In other Insulet news, EVP Eric Benjamin sold 12,394 shares of Insulet 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 sale, 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 ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Wayne A.I. Frederick sold 1,825 shares of the business's stock in a transaction that occurred on Tuesday, March 25th. The shares were sold at an average price of $275.00, for a total transaction of $501,875.00. Following the completion of the sale, the director now directly owns 3,231 shares in the company, valued at $888,525. This trade represents a 36.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.47% of the company's stock.

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.