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

Sumitomo Mitsui DS Asset Management Company Ltd boosted its position in Insulet Co. (NASDAQ:PODD) by 2.3% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 6,186 shares of the medical instruments supplier’s stock after purchasing an additional 137 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Insulet were worth $1,342,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also bought and sold shares of the company. Qube Research & Technologies Ltd boosted its position in Insulet by 227.3% in the 3rd quarter. Qube Research & Technologies Ltd now owns 386,687 shares of the medical instruments supplier’s stock worth $61,673,000 after purchasing an additional 268,553 shares in the last quarter. Assenagon Asset Management S.A. boosted its position in Insulet by 119.1% in the 4th quarter. Assenagon Asset Management S.A. now owns 79,375 shares of the medical instruments supplier’s stock worth $17,223,000 after purchasing an additional 43,147 shares in the last quarter. Asset Management One Co. Ltd. boosted its position in Insulet by 33.7% in the 4th quarter. Asset Management One Co. Ltd. now owns 36,677 shares of the medical instruments supplier’s stock worth $8,048,000 after purchasing an additional 9,240 shares in the last quarter. Graham Capital Management L.P. boosted its position in Insulet by 689.8% in the 3rd quarter. Graham Capital Management L.P. now owns 23,095 shares of the medical instruments supplier’s stock worth $3,683,000 after purchasing an additional 20,171 shares in the last quarter. Finally, Aquila Investment Management LLC acquired a new position in shares of Insulet during the 4th quarter worth approximately $1,302,000.

Insulet Stock Performance

NASDAQ PODD opened at $167.25 on Thursday. The stock has a market cap of $11.71 billion, a PE ratio of 57.47, a P/E/G ratio of 3.01 and a beta of 0.98. The company has a current ratio of 3.51, a quick ratio of 2.62 and a debt-to-equity ratio of 1.86. Insulet Co. has a twelve month low of $125.82 and a twelve month high of $335.91. The stock has a fifty day simple moving average of $172.53 and a 200-day simple moving average of $179.35.

Insulet (NASDAQ:PODD) last posted its quarterly earnings results on Thursday, February 22nd. The medical instruments supplier reported $1.40 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.67 by $0.73. Insulet had a return on equity of 32.19% and a net margin of 12.16%. The company had revenue of $509.80 million for the quarter, compared to analyst estimates of $461.26 million. During the same quarter last year, the company earned $0.55 EPS. Insulet’s revenue for the quarter was up 37.9% compared to the same quarter last year. Equities analysts anticipate that Insulet Co. will post 3.08 earnings per share for the current year.

Insiders Place Their Bets

In other Insulet news, Director Shacey Petrovic sold 11,609 shares of Insulet stock in a transaction that occurred on Wednesday, February 28th. The stock was sold at an average price of $162.92, for a total transaction of $1,891,338.28. Following the transaction, the director now owns 2,567 shares of the company’s stock, valued at $418,215.64. The transaction was disclosed in a filing with the SEC, which is available at this link. 0.90% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

PODD has been the subject of several research analyst reports. JPMorgan Chase & Co. upped their target price on Insulet from $190.00 to $225.00 and gave the stock an “overweight” rating in a research note on Friday, February 23rd. Barclays reduced their target price on Insulet from $214.00 to $213.00 and set an “equal weight” rating for the company in a research note on Monday, February 26th. Piper Sandler reduced their price objective on Insulet from $250.00 to $230.00 and set an “overweight” rating for the company in a research note on Friday, February 23rd. Finally, Stifel Nicolaus upped their target price on Insulet from $163.00 to $208.00 and gave the company a “hold” rating in a report on Monday, February 5th. Four investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $243.21.

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.