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

Mitsubishi UFJ Asset Management Co. Ltd. increased its position in Insulet Co. (NASDAQ:PODD) by 12.3% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 111,444 shares of the medical instruments supplier’s stock after acquiring an additional 12,206 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. owned approximately 0.16% of Insulet worth $29,678,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. SBI Securities Co. Ltd. purchased a new position in shares of Insulet in the fourth quarter worth about $36,000. SRS Capital Advisors Inc. raised its position in Insulet by 43.1% during the 4th quarter. SRS Capital Advisors Inc. now owns 186 shares of the medical instruments supplier’s stock worth $49,000 after buying an additional 56 shares during the last quarter. TD Private Client Wealth LLC lifted 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 acquiring an additional 56 shares during the period. Friedenthal Financial purchased a new stake in shares of Insulet in the 4th quarter valued at $57,000. Finally, Assetmark Inc. increased 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 acquiring an additional 246 shares during the period.

Insider Activity

In related news, Director Wayne A.I. Frederick sold 1,825 shares of Insulet stock in a transaction that occurred on Tuesday, March 25th. The stock was sold at an average price of $275.00, for a total transaction of $501,875.00. Following the transaction, the director now owns 3,231 shares in the company, valued at approximately $888,525. This trade represents a 36.10 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Eric Benjamin sold 12,394 shares of the firm’s stock in a transaction on Tuesday, January 21st. The stock was sold at an average price of $280.00, for a total value 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. This trade represents a 52.13 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.47% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on PODD shares. Stifel Nicolaus increased their price target on Insulet from $245.00 to $293.00 and gave the stock a “hold” rating in a research report on Friday, February 21st. Canaccord Genuity Group raised their target price on Insulet from $304.00 to $324.00 and gave the stock a “buy” rating in a report on Friday, February 21st. Royal Bank of Canada initiated coverage on Insulet in a report on Thursday, March 6th. They issued an “outperform” rating and a $340.00 price target for the company. TD Cowen raised their price objective 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. Finally, Wells Fargo & Company lifted their target price on shares of Insulet from $305.00 to $322.00 and gave the company an “overweight” rating in a report on Friday, February 21st. Four equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $292.06.

Insulet Price Performance

NASDAQ:PODD opened at $258.75 on Monday. The firm has a market cap of $18.17 billion, a P/E ratio of 44.69, a price-to-earnings-growth ratio of 3.62 and a beta of 1.29. The stock has a 50 day moving average of $271.69 and a two-hundred day moving average of $258.97. Insulet Co. has a 12 month low of $160.19 and a 12 month high of $289.46. The company has a current ratio of 3.68, a quick ratio of 2.80 and a debt-to-equity ratio of 1.21.

Insulet (NASDAQ:PODD) last issued its quarterly earnings results on Thursday, February 20th. The medical instruments supplier reported $1.15 EPS for the quarter, topping the consensus estimate of $1.00 by $0.15. The firm had revenue of $597.50 million during the quarter, compared to analysts’ expectations of $582.02 million. Insulet had a return on equity of 24.46% and a net margin of 20.19%. On average, analysts expect that Insulet Co. will post 3.92 earnings per share for the current fiscal year.

About Insulet

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.