Resona Asset Management Co. Ltd. Reduces Stake in Insulet Corporation $PODD

Resona Asset Management Co. Ltd. lowered its stake in Insulet Corporation (NASDAQ:PODD) by 8.2% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm 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.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Illinois Municipal Retirement Fund lifted its holdings in shares of Insulet by 41.3% during the 2nd quarter. Illinois Municipal Retirement Fund now owns 12,030 shares of the medical instruments supplier’s stock worth $3,780,000 after acquiring an additional 3,514 shares during the last quarter. Janney Montgomery Scott LLC raised its position in 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 purchasing an additional 42,422 shares in the last quarter. Campbell & CO Investment Adviser LLC bought a new stake in Insulet during the second quarter worth about $1,081,000. Nordea Investment Management AB lifted its stake in Insulet by 4.8% during the third quarter. Nordea Investment Management AB now owns 408,211 shares of the medical instruments supplier’s stock worth $125,125,000 after purchasing an additional 18,553 shares during the last quarter. Finally, Braun Stacey Associates Inc. purchased a new position in shares of Insulet in the 3rd quarter worth about $16,657,000.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on PODD shares. Wolfe Research raised their price objective on Insulet from $350.00 to $375.00 and gave the company an “outperform” rating in a report on Friday, November 7th. Raymond James Financial lifted their price target on shares of Insulet from $366.00 to $385.00 and gave the stock an “outperform” rating in a research note on Friday, November 21st. Canaccord Genuity Group boosted their price objective on shares of Insulet from $432.00 to $450.00 and gave the stock a “buy” rating in a report on Wednesday, December 17th. Wells Fargo & Company increased their target price on shares of Insulet from $350.00 to $360.00 and gave the company an “overweight” rating in a report on Friday, November 7th. Finally, UBS Group reissued a “buy” rating on shares of Insulet in a research note on Thursday, December 18th. Twenty investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $379.10.

Insulet Trading Down 0.1%

Shares of PODD opened at $271.31 on Tuesday. The stock has a market capitalization of $19.09 billion, a P/E ratio of 78.64, a PEG ratio of 1.51 and a beta of 1.40. Insulet Corporation has a twelve month low of $230.05 and a twelve month high of $354.88. The company has a quick ratio of 2.18, a current ratio of 2.87 and a debt-to-equity ratio of 0.68. The firm has a fifty day simple moving average of $297.35 and a two-hundred day simple moving average of $310.15.

Insulet (NASDAQ:PODD) last released its quarterly earnings data on Thursday, November 6th. The medical instruments supplier reported $1.24 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.13 by $0.11. The firm had revenue of $521.70 million for the quarter, compared to analysts’ expectations of $678.70 million. Insulet had a net margin of 9.76% and a return on equity of 24.36%. The company’s revenue for the quarter was up 29.9% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.08 earnings per share. On average, research analysts anticipate that Insulet Corporation will post 3.92 EPS for the current year.

Insulet Profile

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.