Mitsubishi UFJ Trust & Banking Corp Grows Position in Insulet Co. (NASDAQ:PODD)

Mitsubishi UFJ Trust & Banking Corp increased its position in Insulet Co. (NASDAQ:PODD) by 246.2% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 135,547 shares of the medical instruments supplier’s stock after buying an additional 96,390 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp owned 0.19% of Insulet worth $23,168,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in PODD. Capital Research Global Investors boosted its holdings in shares of Insulet by 19.7% during the fourth quarter. Capital Research Global Investors now owns 9,476,623 shares of the medical instruments supplier’s stock worth $2,056,255,000 after purchasing an additional 1,556,455 shares during the period. Vanguard Group Inc. boosted its holdings in Insulet by 0.4% in the fourth quarter. Vanguard Group Inc. now owns 8,029,608 shares of the medical instruments supplier’s stock valued at $1,742,264,000 after acquiring an additional 29,387 shares in the last quarter. Baillie Gifford & Co. boosted its stake in shares of Insulet by 18.9% during the 1st quarter. Baillie Gifford & Co. now owns 1,442,279 shares of the medical instruments supplier’s stock valued at $247,207,000 after purchasing an additional 229,520 shares in the last quarter. Norges Bank bought a new stake in Insulet during the 4th quarter valued at approximately $227,655,000. Finally, William Blair Investment Management LLC raised its position in shares of Insulet by 3.7% in the 1st quarter. William Blair Investment Management LLC now owns 952,268 shares of the medical instruments supplier’s stock worth $163,219,000 after acquiring an additional 33,579 shares in the last quarter.

Insulet Stock Performance

Shares of PODD traded up $0.07 during mid-day trading on Friday, hitting $195.03. 653,929 shares of the company traded hands, compared to its average volume of 635,452. Insulet Co. has a 1 year low of $125.82 and a 1 year high of $289.73. The company has a debt-to-equity ratio of 1.72, a quick ratio of 2.75 and a current ratio of 3.74. The stock has a 50-day moving average price of $191.58 and a two-hundred day moving average price of $184.81. The stock has a market cap of $13.66 billion, a price-to-earnings ratio of 59.10, a P/E/G ratio of 3.51 and a beta of 1.16.

Insulet (NASDAQ:PODD) last released its quarterly earnings results on Thursday, May 9th. The medical instruments supplier reported $0.73 earnings per share for the quarter, beating the consensus estimate of $0.39 by $0.34. The firm had revenue of $441.70 million for the quarter, compared to analysts’ expectations of $424.05 million. Insulet had a return on equity of 34.06% and a net margin of 13.14%. The company’s revenue was up 23.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.23 EPS. Equities analysts anticipate that Insulet Co. will post 3.11 earnings per share for the current year.

Insider Buying and Selling at Insulet

In related news, Director Timothy J. Scannell sold 7,000 shares of the firm’s stock in a transaction that occurred on Monday, June 10th. The shares were sold at an average price of $190.51, for a total value of $1,333,570.00. Following the transaction, the director now owns 35,586 shares of the company’s stock, valued at $6,779,488.86. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, Director Timothy J. Scannell sold 3,300 shares of the firm’s stock in a transaction dated Tuesday, May 28th. The stock was sold at an average price of $180.90, for a total value of $596,970.00. Following the transaction, the director now owns 42,586 shares of the company’s stock, valued at $7,703,807.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Timothy J. Scannell sold 7,000 shares of the business’s stock in a transaction that occurred on Monday, June 10th. The shares were sold at an average price of $190.51, for a total value of $1,333,570.00. Following the transaction, the director now owns 35,586 shares of the company’s stock, valued at $6,779,488.86. The disclosure for this sale can be found here. Insiders sold a total of 13,931 shares of company stock worth $2,636,286 in the last three months. 0.47% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on PODD shares. Raymond James decreased their price objective on Insulet from $218.00 to $213.00 and set an “outperform” rating for the company in a report on Friday, May 10th. Barclays lowered their price target on shares of Insulet from $213.00 to $200.00 and set an “equal weight” rating for the company in a research report on Monday, May 13th. Jefferies Financial Group upped their price objective on shares of Insulet from $255.00 to $260.00 and gave the stock a “buy” rating in a report on Friday, May 10th. OTR Global reaffirmed a “mixed” rating on shares of Insulet in a research note on Monday, June 10th. Finally, Wolfe Research raised Insulet from a “peer perform” rating to an “outperform” rating and set a $200.00 price target on the stock in a research report on Tuesday, May 7th. Four analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $239.18.

About Insulet

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.