Meiji Yasuda Asset Management Co Ltd. Buys 741 Shares of Insulet Co. (NASDAQ:PODD)

Meiji Yasuda Asset Management Co Ltd. boosted its stake in shares of Insulet Co. (NASDAQ:PODD) by 3.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 19,797 shares of the medical instruments supplier’s stock after buying an additional 741 shares during the period. Meiji Yasuda Asset Management Co Ltd.’s holdings in Insulet were worth $5,168,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the stock. SBI Securities Co. Ltd. bought a new position in shares of Insulet in the fourth quarter worth approximately $36,000. SRS Capital Advisors Inc. lifted its position in Insulet by 43.1% in the 4th quarter. SRS Capital Advisors Inc. now owns 186 shares of the medical instruments supplier’s stock valued at $49,000 after acquiring an additional 56 shares in the last quarter. TD Private Client Wealth LLC boosted its stake 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 valued at $53,000 after purchasing an additional 56 shares during the last quarter. Friedenthal Financial bought a new stake in shares of Insulet in the 4th quarter worth $57,000. Finally, Assetmark Inc. raised 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 worth $69,000 after purchasing an additional 246 shares during the last quarter.

Analyst Ratings Changes

Several equities research analysts recently commented on the company. Citigroup lifted their price objective on Insulet from $310.00 to $355.00 and gave the stock a “buy” rating in a report on Friday, February 21st. TD Cowen lifted their price target on shares of Insulet from $264.00 to $324.00 and gave the stock a “buy” rating in a research note on Friday, January 3rd. Piper Sandler increased their price objective on shares of Insulet from $285.00 to $310.00 and gave the company an “overweight” rating in a research report on Friday, February 21st. Canaccord Genuity Group lifted their target price on shares of Insulet from $304.00 to $324.00 and gave the stock a “buy” rating in a research report on Friday, February 21st. Finally, Royal Bank of Canada assumed coverage on shares of Insulet in a research note on Thursday, March 6th. They set an “outperform” rating and a $340.00 target price for the company. Four equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $292.06.

Insider Buying and Selling

In other news, EVP Eric Benjamin sold 12,394 shares of Insulet stock in a transaction that occurred on 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 sale, the executive vice president now 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 transaction was disclosed in a filing with the SEC, which is available at the SEC website. 0.47% of the stock is owned by insiders.

Insulet Stock Performance

PODD opened at $272.71 on Wednesday. The firm has a market cap of $19.15 billion, a P/E ratio of 47.10, a PEG ratio of 3.62 and a beta of 1.29. Insulet Co. has a 1-year low of $160.19 and a 1-year high of $289.46. The company has a 50 day simple moving average of $272.27 and a two-hundred day simple moving average of $258.19. The company has a debt-to-equity ratio of 1.21, a current ratio of 3.68 and a quick ratio of 2.80.

Insulet (NASDAQ:PODD) last issued its earnings results on Thursday, February 20th. The medical instruments supplier reported $1.15 earnings per share for the quarter, topping the consensus estimate of $1.00 by $0.15. The company 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%. Equities analysts forecast that Insulet Co. will post 3.92 earnings per share for the current fiscal year.

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.