Insulet Corporation (NASDAQ:PODD) Stock Position Lifted by Mitsubishi UFJ Asset Management Co. Ltd.

Key Points

• Mitsubishi UFJ Asset Management increased its holdings in Insulet Corporation by 12%, now owning 0.18% of the company valued at approximately $32.77 million.
• Insulet's recent earnings report showed an EPS of $1.17, surpassing estimates, with revenues up 32.9% year-over-year at $649.10 million.
• Barclays raised their price target for Insulet from $234 to $266, while Wells Fargo increased theirs from $330 to $350, indicating strong analyst support with a consensus rating of "Moderate Buy."

Mitsubishi UFJ Asset Management Co. Ltd. grew its holdings in Insulet Corporation (NASDAQ:PODD - Free Report) by 12.0% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 124,779 shares of the medical instruments supplier's stock after acquiring an additional 13,335 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. owned 0.18% of Insulet worth $32,768,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in PODD. Larson Financial Group LLC grew its position in Insulet by 426.3% in the first quarter. Larson Financial Group LLC now owns 100 shares of the medical instruments supplier's stock worth $26,000 after acquiring an additional 81 shares in the last quarter. Itau Unibanco Holding S.A. bought a new stake in Insulet in the fourth quarter worth approximately $42,000. Ramirez Asset Management Inc. bought a new stake in Insulet in the first quarter worth approximately $53,000. Golden State Wealth Management LLC grew its position in Insulet by 553.1% in the first quarter. Golden State Wealth Management LLC now owns 209 shares of the medical instruments supplier's stock worth $55,000 after acquiring an additional 177 shares in the last quarter. Finally, GW&K Investment Management LLC grew its position in Insulet by 114.7% in the first quarter. GW&K Investment Management LLC now owns 249 shares of the medical instruments supplier's stock worth $65,000 after acquiring an additional 133 shares in the last quarter.

Analysts Set New Price Targets

PODD has been the subject of a number of analyst reports. Morgan Stanley restated an "overweight" rating on shares of Insulet in a research note on Thursday. Barclays boosted their price objective on shares of Insulet from $234.00 to $266.00 and gave the stock an "equal weight" rating in a research note on Wednesday, April 30th. Citigroup reissued a "buy" rating on shares of Insulet in a report on Tuesday, July 8th. Truist Financial began coverage on shares of Insulet in a report on Monday, June 16th. They issued a "buy" rating and a $365.00 price target for the company. Finally, Wells Fargo & Company increased their price target on shares of Insulet from $330.00 to $350.00 and gave the company an "overweight" rating in a report on Friday. Two equities research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $330.71.

Insulet Trading Up 1.2%

Shares of PODD stock opened at $307.10 on Friday. Insulet Corporation has a 52-week low of $173.00 and a 52-week high of $329.33. The stock has a market cap of $21.61 billion, a price-to-earnings ratio of 93.34, a P/E/G ratio of 2.72 and a beta of 1.35. The company has a debt-to-equity ratio of 0.64, a quick ratio of 3.63 and a current ratio of 2.26. The firm has a fifty day moving average of $299.12 and a 200-day moving average of $283.03.

Insulet (NASDAQ:PODD - Get Free Report) last announced its earnings results on Thursday, August 7th. The medical instruments supplier reported $1.17 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.92 by $0.25. The business had revenue of $649.10 million during the quarter, compared to analysts' expectations of $612.31 million. Insulet had a net margin of 10.01% and a return on equity of 23.78%. The firm's revenue for the quarter was up 32.9% on a year-over-year basis. During the same quarter last year, the company posted $0.55 EPS. On average, equities research analysts forecast that Insulet Corporation will post 3.92 earnings per share for the current fiscal year.

Insider Activity

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

Insulet Company 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.

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