Cibc World Markets Corp Boosts Holdings in Insulet Co. (NASDAQ:PODD)

Cibc World Markets Corp grew its holdings in shares of Insulet Co. (NASDAQ:PODD) by 46.1% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 13,851 shares of the medical instruments supplier’s stock after acquiring an additional 4,368 shares during the quarter. Cibc World Markets Corp’s holdings in Insulet were worth $3,616,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in the business. Envestnet Portfolio Solutions Inc. raised its stake in shares of Insulet by 2.3% during the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 2,113 shares of the medical instruments supplier’s stock worth $552,000 after acquiring an additional 48 shares in the last quarter. Globeflex Capital L P purchased a new position in shares of Insulet during the fourth quarter worth approximately $131,000. Natixis Advisors LLC raised its stake in shares of Insulet by 33.8% during the fourth quarter. Natixis Advisors LLC now owns 44,371 shares of the medical instruments supplier’s stock worth $11,584,000 after acquiring an additional 11,210 shares in the last quarter. Frank Rimerman Advisors LLC purchased a new position in shares of Insulet in the fourth quarter worth $220,000. Finally, Commonwealth Equity Services LLC increased its stake in shares of Insulet by 3.1% in the fourth quarter. Commonwealth Equity Services LLC now owns 16,665 shares of the medical instruments supplier’s stock worth $4,351,000 after buying an additional 508 shares during the period.

Wall Street Analyst Weigh In

Several brokerages recently commented on PODD. Piper Sandler lifted their target price on shares of Insulet from $285.00 to $310.00 and gave the stock an “overweight” rating in a research note on Friday, February 21st. Wells Fargo & Company lifted their target price on shares of Insulet from $305.00 to $322.00 and gave the stock an “overweight” rating in a research note on Friday, February 21st. Canaccord Genuity Group lifted their target price on shares of Insulet from $304.00 to $324.00 and gave the stock a “buy” rating in a research note on Friday, February 21st. JPMorgan Chase & Co. lifted their target price on shares of Insulet from $280.00 to $330.00 and gave the stock an “overweight” rating in a research note on Thursday, December 12th. Finally, StockNews.com downgraded shares of Insulet from a “buy” rating to a “hold” rating in a research note on Tuesday, March 4th. Four analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $292.06.

Insider Activity

In related news, EVP Eric Benjamin sold 12,394 shares of the company’s stock in a transaction dated Tuesday, January 21st. The shares were 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 owns 11,383 shares in the company, valued at $3,187,240. The trade was a 52.13 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 0.47% of the company’s stock.

Insulet Stock Performance

Shares of PODD stock opened at $265.39 on Friday. Insulet Co. has a 12 month low of $160.19 and a 12 month high of $289.46. The stock has a market cap of $18.64 billion, a PE ratio of 45.84, a price-to-earnings-growth ratio of 3.62 and a beta of 1.29. The company has a current ratio of 3.68, a quick ratio of 2.80 and a debt-to-equity ratio of 1.21. The company’s fifty day moving average price is $272.11 and its 200-day moving average price is $256.26.

Insulet (NASDAQ:PODD) last announced its earnings results on Thursday, February 20th. The medical instruments supplier reported $1.15 EPS for the quarter, beating analysts’ consensus estimates of $1.00 by $0.15. Insulet had a net margin of 20.19% and a return on equity of 24.46%. The firm had revenue of $597.50 million for the quarter, compared to analysts’ expectations of $582.02 million. On average, equities analysts expect that Insulet Co. will post 3.92 EPS for the current fiscal 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.