Insulet Co. (NASDAQ:PODD) Shares Purchased by Mitsubishi UFJ Asset Management Co. Ltd.

Mitsubishi UFJ Asset Management Co. Ltd. raised its position in Insulet Co. (NASDAQ:PODD) by 12.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 111,444 shares of the medical instruments supplier’s stock after purchasing an additional 12,206 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd.’s holdings in Insulet were worth $29,678,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in PODD. Raymond James Financial Inc. acquired a new stake in shares of Insulet in the fourth quarter valued at $69,433,000. Alecta Tjanstepension Omsesidigt acquired a new position in Insulet in the 4th quarter valued at about $53,184,000. Proficio Capital Partners LLC purchased a new stake in Insulet during the fourth quarter worth about $28,422,000. Baillie Gifford & Co. boosted its stake in shares of Insulet by 3.5% in the fourth quarter. Baillie Gifford & Co. now owns 2,355,683 shares of the medical instruments supplier’s stock valued at $614,998,000 after purchasing an additional 79,982 shares during the period. Finally, Caisse DE Depot ET Placement DU Quebec acquired a new position in shares of Insulet in the third quarter valued at approximately $16,342,000.

Analyst Ratings Changes

Several equities analysts have commented on the stock. TD Cowen raised their price target on shares of Insulet from $264.00 to $324.00 and gave the company a “buy” rating in a research report on Friday, January 3rd. Canaccord Genuity Group lifted their target price on Insulet from $304.00 to $324.00 and gave the company a “buy” rating in a report on Friday, February 21st. Raymond James restated an “outperform” rating and set a $328.00 price target (up previously from $294.00) on shares of Insulet in a report on Friday, February 21st. Piper Sandler lifted their price objective on Insulet from $285.00 to $310.00 and gave the company an “overweight” rating in a research note on Friday, February 21st. Finally, Wells Fargo & Company upped their target price 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. Four research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $292.06.

Insulet Trading Down 0.6 %

Shares of Insulet stock opened at $258.75 on Monday. The company has a current ratio of 3.68, a quick ratio of 2.80 and a debt-to-equity ratio of 1.21. The company has a fifty day simple moving average of $271.69 and a 200-day simple moving average of $258.97. The stock has a market cap of $18.17 billion, a price-to-earnings ratio of 44.69, a PEG ratio of 3.62 and a beta of 1.29. Insulet Co. has a 12-month low of $160.19 and a 12-month high of $289.46.

Insulet (NASDAQ:PODD) last released its quarterly earnings data 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. Insulet had a net margin of 20.19% and a return on equity of 24.46%. The company had revenue of $597.50 million during the quarter, compared to the consensus estimate of $582.02 million. On average, equities analysts forecast that Insulet Co. will post 3.92 EPS for the current fiscal year.

Insiders Place Their Bets

In other Insulet news, Director Wayne A.I. Frederick sold 1,825 shares of the firm’s stock in a transaction 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 transaction, the director now directly owns 3,231 shares of the company’s stock, valued at approximately $888,525. This trade represents a 36.10 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Eric Benjamin sold 12,394 shares of the company’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 sale, the executive vice president now directly 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 disclosure for this sale can be found here. 0.47% of the stock is currently owned by corporate insiders.

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.