Mizuho Securities USA LLC Sells 1,032 Shares of Insulet Corporation (NASDAQ:PODD)

Key Points

• Mizuho Securities USA LLC reduced its stake in Insulet Corporation by 15.5%, selling 1,032 shares, and now holds 5,616 shares valued at $1,475,000.
• Insulet Corporation reported a 32.9% increase in revenue year-over-year, reaching $649.10 million, and earnings per share of $1.17 for the most recent quarter, exceeding analyst expectations.
• An array of analyst upgrades has resulted in a consensus rating of "Moderate Buy" for Insulet, with a price target averaging $330.71.

Mizuho Securities USA LLC decreased its stake in shares of Insulet Corporation (NASDAQ:PODD - Free Report) by 15.5% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,616 shares of the medical instruments supplier's stock after selling 1,032 shares during the period. Mizuho Securities USA LLC's holdings in Insulet were worth $1,475,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Zions Bancorporation National Association UT acquired a new position in Insulet during the 1st quarter worth about $26,000. Townsquare Capital LLC lifted its position in Insulet by 1.3% during the 1st quarter. Townsquare Capital LLC now owns 17,316 shares of the medical instruments supplier's stock worth $4,547,000 after buying an additional 214 shares in the last quarter. Founders Financial Alliance LLC lifted its position in Insulet by 120.6% during the 1st quarter. Founders Financial Alliance LLC now owns 2,230 shares of the medical instruments supplier's stock worth $586,000 after buying an additional 1,219 shares in the last quarter. Citigroup Inc. lifted its position in Insulet by 26.4% during the 1st quarter. Citigroup Inc. now owns 81,012 shares of the medical instruments supplier's stock worth $21,275,000 after buying an additional 16,931 shares in the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. lifted its position in Insulet by 12.0% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 124,779 shares of the medical instruments supplier's stock valued at $32,768,000 after purchasing an additional 13,335 shares during the period.

Insulet Stock Up 2.3%

NASDAQ PODD traded up $7.10 during trading hours on Thursday, reaching $315.78. 763,855 shares of the company's stock were exchanged, compared to its average volume of 774,621. The company's 50-day moving average is $298.24 and its two-hundred day moving average is $283.60. Insulet Corporation has a one year low of $180.31 and a one year high of $329.33. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.81 and a current ratio of 2.26. The company has a market capitalization of $22.23 billion, a price-to-earnings ratio of 95.98, a price-to-earnings-growth ratio of 2.59 and a beta of 1.35.

Insulet (NASDAQ:PODD - Get Free Report) last posted 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. Insulet had a return on equity of 23.78% and a net margin of 10.01%. The business had revenue of $649.10 million during the quarter, compared to analysts' expectations of $612.31 million. During the same period in the prior year, the business earned $0.55 EPS. Insulet's revenue for the quarter was up 32.9% compared to the same quarter last year. On average, analysts forecast that Insulet Corporation will post 3.92 EPS for the current fiscal year.

Analyst Ratings Changes

PODD has been the topic of a number of research reports. Morgan Stanley restated an "overweight" rating on shares of Insulet in a research report on Thursday, August 7th. Raymond James Financial restated an "outperform" rating and set a $360.00 target price (up from $328.00) on shares of Insulet in a research report on Tuesday, May 27th. Wolfe Research upgraded shares of Insulet from a "peer perform" rating to an "outperform" rating and set a $350.00 target price on the stock in a research report on Tuesday, May 13th. Citigroup restated a "buy" rating on shares of Insulet in a research report on Tuesday, July 8th. Finally, Canaccord Genuity Group upped their price target on Insulet from $331.00 to $353.00 and gave the company a "buy" rating in a research note on Friday, August 8th. Two analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $330.71.

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.