Meiji Yasuda Asset Management Co Ltd. Raises Holdings in Insulet Co. (NASDAQ:PODD)

Meiji Yasuda Asset Management Co Ltd. lifted its holdings in Insulet Co. (NASDAQ:PODD) by 49.5% in the 2nd quarter, Holdings Channel reports. The firm owned 19,035 shares of the medical instruments supplier’s stock after acquiring an additional 6,303 shares during the period. Meiji Yasuda Asset Management Co Ltd.’s holdings in Insulet were worth $3,841,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Meiji Yasuda Life Insurance Co raised its position in Insulet by 16.0% in the second quarter. Meiji Yasuda Life Insurance Co now owns 7,961 shares of the medical instruments supplier’s stock worth $1,607,000 after acquiring an additional 1,100 shares during the period. Lingotto Investment Management LLP purchased a new stake in shares of Insulet in the 2nd quarter worth $3,243,000. Wealth Alliance bought a new position in Insulet in the 2nd quarter worth $219,000. Dimensional Fund Advisors LP lifted its position in Insulet by 10.0% during the second quarter. Dimensional Fund Advisors LP now owns 146,746 shares of the medical instruments supplier’s stock valued at $29,618,000 after purchasing an additional 13,351 shares in the last quarter. Finally, WINTON GROUP Ltd grew its holdings in Insulet by 72.7% during the second quarter. WINTON GROUP Ltd now owns 4,534 shares of the medical instruments supplier’s stock valued at $915,000 after purchasing an additional 1,908 shares during the period.

Wall Street Analyst Weigh In

PODD has been the topic of several recent research reports. BTIG Research decreased their price objective on Insulet from $270.00 to $250.00 and set a “buy” rating on the stock in a research note on Friday, August 9th. Redburn Atlantic began coverage on shares of Insulet in a report on Thursday, May 30th. They set a “buy” rating and a $235.00 price target on the stock. UBS Group increased their price objective on shares of Insulet from $211.00 to $223.00 and gave the stock a “neutral” rating in a research note on Friday, August 9th. Canaccord Genuity Group restated a “buy” rating and set a $234.00 price objective on shares of Insulet in a research report on Tuesday, July 23rd. Finally, OTR Global reaffirmed a “mixed” rating on shares of Insulet in a report on Monday, June 10th. Four equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $229.21.

Insulet Trading Up 0.2 %

Shares of PODD stock opened at $236.11 on Thursday. The company has a current ratio of 3.60, a quick ratio of 2.71 and a debt-to-equity ratio of 1.36. The stock has a market capitalization of $16.55 billion, a price-to-earnings ratio of 71.55, a price-to-earnings-growth ratio of 4.31 and a beta of 1.21. Insulet Co. has a 12-month low of $125.82 and a 12-month high of $243.98. The stock’s 50-day moving average price is $200.74 and its 200-day moving average price is $186.98.

Insulet (NASDAQ:PODD) last released its quarterly earnings results on Thursday, August 8th. The medical instruments supplier reported $0.55 earnings per share for the quarter, missing the consensus estimate of $0.56 by ($0.01). The firm had revenue of $488.50 million for the quarter, compared to analysts’ expectations of $488.00 million. Insulet had a net margin of 21.11% and a return on equity of 30.73%. The business’s quarterly revenue was up 23.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.38 EPS. Equities research analysts predict that Insulet Co. will post 3.04 EPS for the current fiscal year.

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.