Sumitomo Mitsui DS Asset Management Company Ltd Raises Position in Insulet Co. (NASDAQ:PODD)

Sumitomo Mitsui DS Asset Management Company Ltd lifted its stake in shares of Insulet Co. (NASDAQ:PODD) by 3.0% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 6,453 shares of the medical instruments supplier’s stock after buying an additional 188 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Insulet were worth $1,502,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of PODD. GAMMA Investing LLC lifted its position in shares of Insulet by 42.9% during the first quarter. GAMMA Investing LLC now owns 360 shares of the medical instruments supplier’s stock valued at $62,000 after purchasing an additional 108 shares in the last quarter. Mather Group LLC. purchased a new position in shares of Insulet in the 1st quarter worth approximately $53,000. Sunbelt Securities Inc. bought a new position in shares of Insulet in the first quarter valued at approximately $29,000. Diversified Trust Co purchased a new stake in shares of Insulet during the first quarter valued at approximately $820,000. Finally, Wolff Wiese Magana LLC lifted its holdings in Insulet by 117.3% during the first quarter. Wolff Wiese Magana LLC now owns 302 shares of the medical instruments supplier’s stock worth $52,000 after acquiring an additional 163 shares during the period.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the company. Citigroup raised their target price on Insulet from $250.00 to $275.00 and gave the company a “buy” rating in a research report on Tuesday, October 1st. Canaccord Genuity Group lifted their price objective on shares of Insulet from $236.00 to $269.00 and gave the stock a “buy” rating in a research report on Wednesday, September 25th. Raymond James increased their target price on shares of Insulet from $213.00 to $260.00 and gave the company an “outperform” rating in a research report on Monday, October 14th. Barclays upped their price objective on Insulet from $200.00 to $220.00 and gave the company an “equal weight” rating in a research note on Monday, August 12th. Finally, BTIG Research raised their target price on Insulet from $250.00 to $260.00 and gave the stock a “buy” rating in a research report on Monday, October 14th. Three equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat, Insulet has an average rating of “Moderate Buy” and a consensus price target of $242.29.

Insulet Stock Performance

Shares of PODD opened at $236.48 on Tuesday. Insulet Co. has a 52-week low of $128.68 and a 52-week high of $243.98. The stock’s 50-day simple moving average is $218.20 and its 200 day simple moving average is $197.28. The company has a debt-to-equity ratio of 1.36, a quick ratio of 2.71 and a current ratio of 3.60. The stock has a market capitalization of $16.58 billion, a price-to-earnings ratio of 43.00, a price-to-earnings-growth ratio of 4.35 and a beta of 1.21.

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

Insulet 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.