CIBC Asset Management Inc Boosts Stock Holdings in Insulet Co. (NASDAQ:PODD)

CIBC Asset Management Inc boosted its stake in shares of Insulet Co. (NASDAQ:PODD) by 4.7% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 10,679 shares of the medical instruments supplier’s stock after acquiring an additional 476 shares during the period. CIBC Asset Management Inc’s holdings in Insulet were worth $2,788,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of PODD. Baillie Gifford & Co. grew its stake in Insulet by 20.7% during the third quarter. Baillie Gifford & Co. now owns 2,275,701 shares of the medical instruments supplier’s stock valued at $529,669,000 after acquiring an additional 389,639 shares in the last quarter. Mizuho Securities USA LLC grew its stake in shares of Insulet by 5,928.1% in the 3rd quarter. Mizuho Securities USA LLC now owns 325,821 shares of the medical instruments supplier’s stock worth $75,835,000 after buying an additional 320,416 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in shares of Insulet by 43.8% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 636,265 shares of the medical instruments supplier’s stock worth $148,091,000 after buying an additional 193,839 shares in the last quarter. Westfield Capital Management Co. LP grew its stake in shares of Insulet by 27.6% in the 3rd quarter. Westfield Capital Management Co. LP now owns 754,872 shares of the medical instruments supplier’s stock worth $175,697,000 after buying an additional 163,388 shares in the last quarter. Finally, Caisse DE Depot ET Placement DU Quebec purchased a new position in shares of Insulet in the 3rd quarter worth $16,342,000.

Insulet Trading Up 1.6 %

Shares of PODD opened at $288.29 on Friday. Insulet Co. has a 1-year low of $160.19 and a 1-year high of $289.46. The company has a 50-day moving average of $272.71 and a 200 day moving average of $246.47. The firm has a market capitalization of $20.22 billion, a price-to-earnings ratio of 49.36, a PEG ratio of 3.52 and a beta of 1.23. The company has a debt-to-equity ratio of 1.21, a current ratio of 3.68 and a quick ratio of 2.80.

Insulet (NASDAQ:PODD) last announced its quarterly earnings data on Thursday, February 20th. The medical instruments supplier reported $1.15 earnings per share for the quarter, beating analysts’ consensus estimates of $1.00 by $0.15. Insulet had a net margin of 21.22% and a return on equity of 27.98%. On average, research analysts expect that Insulet Co. will post 3.22 EPS for the current year.

Analyst Ratings Changes

PODD has been the subject of a number of recent research reports. TD Cowen lifted their price objective on shares of Insulet from $264.00 to $324.00 and gave the stock a “buy” rating in a research note on Friday, January 3rd. Canaccord Genuity Group lifted their price objective on shares of Insulet from $269.00 to $304.00 and gave the stock a “buy” rating in a research note on Monday, December 9th. Citigroup lifted their price objective on shares of Insulet from $283.00 to $310.00 and gave the stock a “buy” rating in a research note on Wednesday, December 11th. Barclays lifted their price objective on shares of Insulet from $220.00 to $234.00 and gave the stock an “equal weight” rating in a research note on Monday, November 11th. Finally, Wells Fargo & Company lifted their price target on shares of Insulet from $290.00 to $305.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 11th. Two equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Insulet presently has an average rating of “Moderate Buy” and an average price target of $277.13.

Insider Activity

In other news, CAO Lauren Budden sold 915 shares of the business’s stock in a transaction dated Tuesday, December 10th. The shares were sold at an average price of $275.62, for a total value 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. The trade was a 13.76 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Eric Benjamin sold 12,394 shares of the business’s stock in a transaction dated Tuesday, January 21st. The shares were sold at an average price of $280.00, for a total transaction of $3,470,320.00. Following the completion of the sale, the executive vice president now owns 11,383 shares of the company’s stock, valued at approximately $3,187,240. This represents a 52.13 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.47% of the company’s stock.

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.