Sumitomo Mitsui DS Asset Management Company Ltd Has $2.19 Million Stake in Insulet Co. (NASDAQ:PODD)

Sumitomo Mitsui DS Asset Management Company Ltd boosted its holdings in Insulet Co. (NASDAQ:PODD) by 30.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 8,395 shares of the medical instruments supplier’s stock after purchasing an additional 1,942 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Insulet were worth $2,192,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Integrated Wealth Concepts LLC boosted its stake in Insulet by 1.7% in the 3rd quarter. Integrated Wealth Concepts LLC now owns 2,561 shares of the medical instruments supplier’s stock valued at $596,000 after purchasing an additional 42 shares during the period. Nisa Investment Advisors LLC lifted its holdings in shares of Insulet by 1.0% during the fourth quarter. Nisa Investment Advisors LLC now owns 4,388 shares of the medical instruments supplier’s stock worth $1,146,000 after buying an additional 43 shares in the last quarter. Glenmede Trust Co. NA boosted its position in shares of Insulet by 2.3% in the third quarter. Glenmede Trust Co. NA now owns 2,080 shares of the medical instruments supplier’s stock valued at $484,000 after acquiring an additional 47 shares during the period. Graypoint LLC grew its stake in shares of Insulet by 5.3% in the fourth quarter. Graypoint LLC now owns 930 shares of the medical instruments supplier’s stock valued at $243,000 after acquiring an additional 47 shares in the last quarter. Finally, OVERSEA CHINESE BANKING Corp Ltd increased its position in Insulet by 4.7% during the third quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 1,076 shares of the medical instruments supplier’s stock worth $250,000 after acquiring an additional 48 shares during the period.

Insulet Stock Performance

NASDAQ PODD opened at $285.34 on Tuesday. The company has a debt-to-equity ratio of 1.21, a quick ratio of 2.80 and a current ratio of 3.68. The company has a market capitalization of $20.01 billion, a PE ratio of 48.86, a price-to-earnings-growth ratio of 3.61 and a beta of 1.23. Insulet Co. has a 52-week low of $160.19 and a 52-week high of $289.46. The company has a 50-day simple moving average of $270.65 and a 200 day simple moving average of $242.24.

Wall Street Analyst Weigh In

A number of analysts have issued reports on PODD shares. Sanford C. Bernstein assumed coverage on shares of Insulet in a report on Wednesday, November 6th. They issued an “outperform” rating and a $300.00 price objective for the company. Morgan Stanley lifted their target price on shares of Insulet from $234.00 to $317.00 and gave the stock an “overweight” rating in a research note on Monday, November 11th. TD Cowen lifted their price target on shares of Insulet from $264.00 to $324.00 and gave the company a “buy” rating in a research note on Friday, January 3rd. Wells Fargo & Company raised their target price on Insulet from $290.00 to $305.00 and gave the company an “overweight” rating in a research note on Wednesday, December 11th. Finally, Barclays upped their price target on Insulet from $220.00 to $234.00 and gave the stock an “equal weight” rating in a research note on Monday, November 11th. Two research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $277.13.

Insider Transactions at Insulet

In other news, CAO Lauren Budden sold 915 shares of Insulet stock in a transaction dated Tuesday, December 10th. The stock was sold at an average price of $275.62, for a total transaction of $252,192.30. Following the completion of the sale, the chief accounting officer now owns 5,733 shares in the company, valued at approximately $1,580,129.46. This trade represents a 13.76 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Eric Benjamin sold 12,394 shares of the business’s stock in a transaction dated Tuesday, January 21st. The stock was sold at an average price of $280.00, for a total value of $3,470,320.00. Following the transaction, the executive vice president now directly owns 11,383 shares of the company’s stock, valued at $3,187,240. The trade was a 52.13 % decrease in their position. The disclosure for this sale can be found here. 0.47% of the stock is currently owned by company insiders.

Insulet Company Profile

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.