Asset Management One Co. Ltd. Buys 1,058 Shares of Insulet Corporation (NASDAQ:PODD)

Asset Management One Co. Ltd. boosted its stake in shares of Insulet Corporation (NASDAQ:PODD - Free Report) by 4.0% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 27,824 shares of the medical instruments supplier's stock after buying an additional 1,058 shares during the period. Asset Management One Co. Ltd.'s holdings in Insulet were worth $7,307,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Norges Bank purchased a new stake in Insulet during the 4th quarter valued at $248,806,000. GAMMA Investing LLC lifted its position in Insulet by 27,298.6% during the first quarter. GAMMA Investing LLC now owns 664,141 shares of the medical instruments supplier's stock valued at $1,744,100,000 after purchasing an additional 661,717 shares in the last quarter. Raymond James Financial Inc. bought a new stake in Insulet during the fourth quarter valued at about $69,433,000. Artisan Partners Limited Partnership raised its holdings in Insulet by 24.1% during the fourth quarter. Artisan Partners Limited Partnership now owns 770,188 shares of the medical instruments supplier's stock valued at $201,073,000 after acquiring an additional 149,524 shares during the period. Finally, Northern Trust Corp raised its holdings in Insulet by 20.5% during the fourth quarter. Northern Trust Corp now owns 738,811 shares of the medical instruments supplier's stock valued at $192,881,000 after acquiring an additional 125,710 shares during the period.

Analysts Set New Price Targets

PODD has been the topic of a number of research reports. Barclays lifted their price target on shares of Insulet from $234.00 to $266.00 and gave the company an "equal weight" rating in a report on Wednesday, April 30th. Truist Financial assumed coverage on shares of Insulet in a report on Monday, June 16th. They set a "buy" rating and a $365.00 price target on the stock. Sanford C. Bernstein reiterated an "outperform" rating on shares of Insulet in a report on Friday, May 16th. Citigroup reissued a "buy" rating and issued a $380.00 price objective (up from $320.00) on shares of Insulet in a research report on Thursday, May 22nd. Finally, The Goldman Sachs Group initiated coverage on shares of Insulet in a research report on Friday, May 30th. They issued a "buy" rating and a $380.00 price objective for the company. Four investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $321.00.

Insider Buying and Selling

In related news, SVP John W. Kapples sold 5,278 shares of the firm's stock in a transaction dated Wednesday, May 14th. The shares were sold at an average price of $318.47, for a total value of $1,680,884.66. Following the transaction, the senior vice president now directly owns 23,180 shares of the company's stock, valued at approximately $7,382,134.60. This trade represents a 18.55% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.39% of the stock is currently owned by insiders.

Insulet Stock Up 1.0%

NASDAQ:PODD opened at $313.08 on Friday. The firm has a market capitalization of $22.03 billion, a P/E ratio of 56.31, a PEG ratio of 2.77 and a beta of 1.37. Insulet Corporation has a 1-year low of $173.00 and a 1-year high of $329.33. The company's fifty day moving average price is $297.69 and its 200-day moving average price is $277.62. The company has a debt-to-equity ratio of 1.21, a current ratio of 4.47 and a quick ratio of 3.63.

Insulet (NASDAQ:PODD - Get Free Report) last released its quarterly earnings data on Thursday, May 8th. The medical instruments supplier reported $1.02 earnings per share for the quarter, topping analysts' consensus estimates of $0.81 by $0.21. Insulet had a net margin of 18.29% and a return on equity of 22.25%. The firm had revenue of $569.00 million for the quarter, compared to analyst estimates of $543.20 million. During the same quarter in the prior year, the business earned $0.73 earnings per share. The business's quarterly revenue was up 28.8% compared to the same quarter last year. As a group, equities research analysts anticipate that Insulet Corporation will post 3.92 EPS for the current 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.

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