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

Meiji Yasuda Asset Management Co Ltd. grew its position in shares of Insulet Co. (NASDAQ:PODD) by 3.9% in the fourth quarter, Holdings Channel reports. The fund owned 19,797 shares of the medical instruments supplier’s stock after buying an additional 741 shares during the quarter. Meiji Yasuda Asset Management Co Ltd.’s holdings in Insulet were worth $5,168,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of PODD. Integrated Wealth Concepts LLC lifted its position in Insulet by 1.7% in the third quarter. Integrated Wealth Concepts LLC now owns 2,561 shares of the medical instruments supplier’s stock worth $596,000 after buying an additional 42 shares during the last quarter. Horizon Investments LLC grew its holdings in Insulet by 3.1% during the 4th quarter. Horizon Investments LLC now owns 1,387 shares of the medical instruments supplier’s stock valued at $362,000 after purchasing an additional 42 shares during the last quarter. Nisa Investment Advisors LLC raised its position in Insulet by 1.0% in the 4th quarter. Nisa Investment Advisors LLC now owns 4,388 shares of the medical instruments supplier’s stock worth $1,146,000 after purchasing an additional 43 shares during the period. Glenmede Trust Co. NA lifted its stake in Insulet by 2.3% in the third quarter. Glenmede Trust Co. NA now owns 2,080 shares of the medical instruments supplier’s stock worth $484,000 after purchasing an additional 47 shares during the last quarter. Finally, Graypoint LLC boosted its position in shares of Insulet by 5.3% during the fourth quarter. Graypoint LLC now owns 930 shares of the medical instruments supplier’s stock valued at $243,000 after buying an additional 47 shares during the period.

Insulet Trading Down 0.5 %

PODD opened at $272.71 on Wednesday. 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 firm has a market cap of $19.15 billion, a price-to-earnings ratio of 47.10, 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. The stock has a fifty day moving average price of $272.27 and a 200-day moving average price of $258.19.

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

Insider Buying and Selling at Insulet

In other news, EVP Eric Benjamin sold 12,394 shares of the stock in a transaction on Tuesday, January 21st. The stock was 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 owns 11,383 shares in the company, valued at approximately $3,187,240. This represents a 52.13 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.47% of the stock is owned by insiders.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the company. Canaccord Genuity Group increased their price target on Insulet from $304.00 to $324.00 and gave the stock a “buy” rating in a report on Friday, February 21st. StockNews.com downgraded Insulet from a “buy” rating to a “hold” rating in a research report on Tuesday, March 4th. Royal Bank of Canada assumed coverage on shares of Insulet in a report on Thursday, March 6th. They issued an “outperform” rating and a $340.00 price target on the stock. Piper Sandler lifted their price objective on shares of Insulet from $285.00 to $310.00 and gave the company an “overweight” rating in a report on Friday, February 21st. Finally, TD Cowen upped their target price 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. Four research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat.com, Insulet has an average rating of “Moderate Buy” and a consensus target price of $292.06.

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.