Insulet Co. (NASDAQ:PODD) Shares Sold by Meiji Yasuda Life Insurance Co

Meiji Yasuda Life Insurance Co lessened its stake in shares of Insulet Co. (NASDAQ:PODD) by 1.2% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 6,861 shares of the medical instruments supplier’s stock after selling 83 shares during the period. Meiji Yasuda Life Insurance Co’s holdings in Insulet were worth $1,176,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Orion Portfolio Solutions LLC lifted its stake in Insulet by 276.6% in the 4th quarter. Orion Portfolio Solutions LLC now owns 10,221 shares of the medical instruments supplier’s stock worth $2,069,000 after purchasing an additional 7,507 shares in the last quarter. Asset Management One Co. Ltd. lifted its stake in Insulet by 33.7% in the 4th quarter. Asset Management One Co. Ltd. now owns 36,677 shares of the medical instruments supplier’s stock worth $8,048,000 after purchasing an additional 9,240 shares in the last quarter. Aquila Investment Management LLC purchased a new position in Insulet in the 4th quarter worth approximately $1,302,000. SG Americas Securities LLC lifted its stake in Insulet by 349.3% in the 1st quarter. SG Americas Securities LLC now owns 29,575 shares of the medical instruments supplier’s stock worth $5,069,000 after purchasing an additional 22,993 shares in the last quarter. Finally, Allianz Asset Management GmbH lifted its stake in Insulet by 85.1% in the 4th quarter. Allianz Asset Management GmbH now owns 108,109 shares of the medical instruments supplier’s stock worth $23,457,000 after purchasing an additional 49,715 shares in the last quarter.

Wall Street Analyst Weigh In

PODD has been the topic of several analyst reports. Jefferies Financial Group lifted their price target on shares of Insulet from $255.00 to $260.00 and gave the company a “buy” rating in a research report on Friday, May 10th. Raymond James reduced their price target on shares of Insulet from $218.00 to $213.00 and set an “outperform” rating on the stock in a research report on Friday, May 10th. Redburn Atlantic initiated coverage on shares of Insulet in a research report on Thursday, May 30th. They set a “buy” rating and a $235.00 price target on the stock. OTR Global reaffirmed a “mixed” rating on shares of Insulet in a research report on Monday, June 10th. Finally, Wolfe Research raised shares of Insulet from a “peer perform” rating to an “outperform” rating and set a $200.00 price target on the stock in a research report on Tuesday, May 7th. Four equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $239.18.

Insulet Stock Performance

Shares of NASDAQ:PODD traded up $0.56 on Wednesday, reaching $194.35. The company’s stock had a trading volume of 750,150 shares, compared to its average volume of 838,367. Insulet Co. has a 52-week low of $125.82 and a 52-week high of $281.83. The company has a debt-to-equity ratio of 1.72, a current ratio of 3.74 and a quick ratio of 2.75. The stock’s 50-day moving average is $193.88 and its two-hundred day moving average is $184.37. The stock has a market capitalization of $13.61 billion, a P/E ratio of 58.89, a PEG ratio of 3.45 and a beta of 1.16.

Insulet (NASDAQ:PODD) last issued its quarterly earnings results on Thursday, May 9th. The medical instruments supplier reported $0.73 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.39 by $0.34. Insulet had a net margin of 13.14% and a return on equity of 34.06%. The business had revenue of $441.70 million for the quarter, compared to analyst estimates of $424.05 million. During the same period in the previous year, the business posted $0.23 earnings per share. The business’s revenue was up 23.3% compared to the same quarter last year. As a group, sell-side analysts forecast that Insulet Co. will post 3.11 EPS for the current year.

Insider Activity

In other news, Director Timothy J. Scannell sold 7,000 shares of the stock in a transaction that occurred on Monday, June 10th. The shares were sold at an average price of $190.51, for a total value of $1,333,570.00. Following the sale, the director now directly owns 35,586 shares in the company, valued at $6,779,488.86. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Insulet news, Director Timothy J. Scannell sold 7,000 shares of the stock in a transaction that occurred on Monday, June 10th. The shares were sold at an average price of $190.51, for a total transaction of $1,333,570.00. Following the transaction, the director now owns 35,586 shares of the company’s stock, valued at $6,779,488.86. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Timothy J. Scannell sold 3,300 shares of the stock in a transaction that occurred on Tuesday, May 28th. The stock was sold at an average price of $180.90, for a total transaction of $596,970.00. Following the transaction, the director now directly owns 42,586 shares in the company, valued at approximately $7,703,807.40. The disclosure for this sale can be found here. Insiders have sold 13,931 shares of company stock worth $2,636,286 over the last ninety days. 0.47% of the stock is currently owned by 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.