Resona Asset Management Co. Ltd. Trims Position in Insulet Corporation $PODD

Resona Asset Management Co. Ltd. lessened its holdings in shares of Insulet Corporation (NASDAQ:PODD) by 8.2% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 23,489 shares of the medical instruments supplier’s stock after selling 2,100 shares during the quarter. Resona Asset Management Co. Ltd.’s holdings in Insulet were worth $7,260,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also added to or reduced their stakes in PODD. NewEdge Advisors LLC increased its position in Insulet by 44.8% during the 1st quarter. NewEdge Advisors LLC now owns 207 shares of the medical instruments supplier’s stock valued at $54,000 after purchasing an additional 64 shares during the period. Wealth Enhancement Advisory Services LLC lifted its position in shares of Insulet by 10.0% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 3,332 shares of the medical instruments supplier’s stock worth $1,003,000 after purchasing an additional 304 shares during the period. V Square Quantitative Management LLC boosted its stake in shares of Insulet by 5.8% during the 2nd quarter. V Square Quantitative Management LLC now owns 1,930 shares of the medical instruments supplier’s stock valued at $606,000 after purchasing an additional 106 shares in the last quarter. Janney Montgomery Scott LLC increased its position in shares of Insulet by 784.9% during the second quarter. Janney Montgomery Scott LLC now owns 47,827 shares of the medical instruments supplier’s stock valued at $15,026,000 after buying an additional 42,422 shares during the period. Finally, Chicago Capital LLC increased its position in shares of Insulet by 3.9% during the second quarter. Chicago Capital LLC now owns 177,996 shares of the medical instruments supplier’s stock valued at $55,923,000 after buying an additional 6,702 shares during the period.

Analyst Ratings Changes

Several brokerages have commented on PODD. Evercore ISI began coverage on shares of Insulet in a report on Tuesday, December 16th. They issued an “outperform” rating and a $370.00 price objective for the company. Royal Bank Of Canada raised their target price on Insulet from $370.00 to $380.00 and gave the company an “outperform” rating in a research note on Friday, November 21st. Barclays upped their price target on Insulet from $300.00 to $301.00 and gave the stock an “equal weight” rating in a research note on Wednesday, November 5th. Truist Financial decreased their price objective on Insulet from $412.00 to $390.00 and set a “buy” rating for the company in a report on Thursday, December 18th. Finally, Canaccord Genuity Group boosted their target price on shares of Insulet from $432.00 to $450.00 and gave the company a “buy” rating in a report on Wednesday, December 17th. Twenty equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $379.10.

Insulet Trading Down 0.1%

Insulet stock opened at $271.31 on Tuesday. Insulet Corporation has a 12 month low of $230.05 and a 12 month high of $354.88. The company has a market capitalization of $19.09 billion, a price-to-earnings ratio of 78.64, a price-to-earnings-growth ratio of 1.51 and a beta of 1.40. The business’s fifty day simple moving average is $297.35 and its two-hundred day simple moving average is $310.15. The company has a current ratio of 2.87, a quick ratio of 2.18 and a debt-to-equity ratio of 0.68.

Insulet (NASDAQ:PODD) last issued its quarterly earnings results on Thursday, November 6th. The medical instruments supplier reported $1.24 earnings per share for the quarter, beating the consensus estimate of $1.13 by $0.11. The firm had revenue of $521.70 million during the quarter, compared to the consensus estimate of $678.70 million. Insulet had a return on equity of 24.36% and a net margin of 9.76%.The company’s revenue was up 29.9% on a year-over-year basis. During the same period last year, the company earned $1.08 earnings per share. As a group, equities analysts predict that Insulet Corporation will post 3.92 earnings per share for the current fiscal year.

About Insulet

Insulet Corporation is a medical device company headquartered in Acton, Massachusetts, that develops, manufactures and sells insulin-delivery systems for people with diabetes. The company’s core business is the design and commercialization of its Omnipod family of tubeless, wearable insulin pumps and the consumable Pods that deliver insulin. Insulet’s products aim to simplify insulin delivery for people with type 1 diabetes and insulin-requiring type 2 diabetes by offering an alternative to traditional insulin pens and tethered pump systems.

The company’s product portfolio includes the Omnipod System line—disposable, waterproof Pods that adhere to the skin and deliver insulin—and the associated controllers and mobile applications used to program and monitor insulin delivery.