Meiji Yasuda Life Insurance Co Raises Position in Insulet Co. (NASDAQ:PODD)

Meiji Yasuda Life Insurance Co lifted its position in shares of Insulet Co. (NASDAQ:PODD) by 16.0% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 7,961 shares of the medical instruments supplier’s stock after acquiring an additional 1,100 shares during the quarter. Meiji Yasuda Life Insurance Co’s holdings in Insulet were worth $1,607,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in PODD. Orion Portfolio Solutions LLC increased its position in Insulet by 276.6% during the 4th quarter. Orion Portfolio Solutions LLC now owns 10,221 shares of the medical instruments supplier’s stock worth $2,069,000 after purchasing an additional 7,507 shares during the period. Diversified Trust Co raised its position in Insulet by 90.9% in the second quarter. Diversified Trust Co now owns 9,130 shares of the medical instruments supplier’s stock worth $1,842,000 after acquiring an additional 4,348 shares in the last quarter. SG Americas Securities LLC lifted its holdings in Insulet by 349.3% in the first quarter. SG Americas Securities LLC now owns 29,575 shares of the medical instruments supplier’s stock valued at $5,069,000 after acquiring an additional 22,993 shares during the period. Allianz Asset Management GmbH boosted its position in shares of Insulet by 85.1% during the 4th quarter. Allianz Asset Management GmbH now owns 108,109 shares of the medical instruments supplier’s stock worth $23,457,000 after purchasing an additional 49,715 shares in the last quarter. Finally, Duality Advisers LP grew its stake in shares of Insulet by 89.4% during the 1st quarter. Duality Advisers LP now owns 19,131 shares of the medical instruments supplier’s stock worth $3,279,000 after purchasing an additional 9,029 shares during the period.

Analysts Set New Price Targets

PODD has been the subject of several recent analyst reports. OTR Global reiterated a “mixed” rating on shares of Insulet in a research note on Monday, June 10th. Piper Sandler lifted their price target on shares of Insulet from $230.00 to $285.00 and gave the company an “overweight” rating in a research report on Tuesday. Canaccord Genuity Group restated a “buy” rating and issued a $234.00 price target on shares of Insulet in a report on Tuesday, July 23rd. Barclays lifted their price objective on Insulet from $200.00 to $220.00 and gave the stock an “equal weight” rating in a report on Monday, August 12th. Finally, BTIG Research lowered their target price on Insulet from $270.00 to $250.00 and set a “buy” rating on the stock in a report on Friday, August 9th. Four analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $229.21.

Insulet Stock Performance

NASDAQ:PODD opened at $235.54 on Wednesday. Insulet Co. has a 1-year low of $125.82 and a 1-year high of $243.98. The firm has a 50 day simple moving average of $199.93 and a 200-day simple moving average of $186.51. The firm has a market cap of $16.51 billion, a PE ratio of 71.38, a P/E/G ratio of 4.31 and a beta of 1.21. The company has a debt-to-equity ratio of 1.36, a current ratio of 3.60 and a quick ratio of 2.71.

Insulet (NASDAQ:PODD) last issued its quarterly earnings results on Thursday, August 8th. The medical instruments supplier reported $0.55 earnings per share for the quarter, missing analysts’ consensus estimates of $0.56 by ($0.01). The business had revenue of $488.50 million for 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 revenue for the quarter was up 23.2% compared to the same quarter last year. During the same period in the prior year, the company earned $0.38 EPS. On average, equities analysts expect that Insulet Co. will post 3.04 EPS for the current year.

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.