Insulet Co. (NASDAQ:PODD) Stake Increased by Meiji Yasuda Life Insurance Co

Meiji Yasuda Life Insurance Co increased its stake in Insulet Co. (NASDAQ:PODD) by 16.0% in the second quarter, Holdings Channel reports. The institutional investor owned 7,961 shares of the medical instruments supplier’s stock after acquiring an additional 1,100 shares during the quarter. Meiji Yasuda Life Insurance Co’s holdings in Insulet were worth $1,607,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in PODD. Sunbelt Securities Inc. bought a new stake in shares of Insulet in the first quarter worth $29,000. International Assets Investment Management LLC bought a new stake in shares of Insulet in the second quarter worth $32,000. UMB Bank n.a. increased its stake in shares of Insulet by 81.0% in the second quarter. UMB Bank n.a. now owns 181 shares of the medical instruments supplier’s stock worth $37,000 after buying an additional 81 shares during the last quarter. Jones Financial Companies Lllp bought a new stake in Insulet during the fourth quarter valued at $40,000. Finally, CVA Family Office LLC increased its stake in Insulet by 138.1% during the second quarter. CVA Family Office LLC now owns 250 shares of the medical instruments supplier’s stock valued at $50,000 after purchasing an additional 145 shares during the last quarter.

Insulet Stock Performance

PODD stock opened at $235.54 on Wednesday. The company has a market capitalization of $16.51 billion, a P/E ratio of 71.38, a PEG ratio of 4.31 and a beta of 1.21. The company has a 50-day simple moving average of $199.93 and a 200 day simple moving average of $186.51. Insulet Co. has a fifty-two week low of $125.82 and a fifty-two week high of $243.98. The company has a quick ratio of 2.71, a current ratio of 3.60 and a debt-to-equity ratio of 1.36.

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

Analyst Ratings Changes

Several research firms have weighed in on PODD. OTR Global reiterated a “mixed” rating on shares of Insulet in a research note on Monday, June 10th. BTIG Research lowered their target price on shares of Insulet from $270.00 to $250.00 and set a “buy” rating for the company in a research note on Friday, August 9th. Piper Sandler boosted their target price on shares of Insulet from $230.00 to $285.00 and gave the company an “overweight” rating in a research note on Tuesday. Barclays boosted their target price on shares of Insulet from $200.00 to $220.00 and gave the company an “equal weight” rating in a research note on Monday, August 12th. Finally, Redburn Atlantic started coverage on shares of Insulet in a research note on Thursday, May 30th. They set a “buy” rating and a $235.00 target price for the company. Four analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat, Insulet has a consensus rating of “Moderate Buy” and a consensus price target of $229.21.

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.