Cibc World Markets Corp Increases Stock Position in Insulet Co. (NASDAQ:PODD)

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

Several other institutional investors and hedge funds also recently made changes to their positions in PODD. Victory Capital Management Inc. raised its holdings in shares of Insulet by 5.1% in the third quarter. Victory Capital Management Inc. now owns 35,706 shares of the medical instruments supplier’s stock valued at $8,311,000 after purchasing an additional 1,724 shares during the last quarter. Empowered Funds LLC purchased a new stake in shares of Insulet in the third quarter valued at about $220,000. Natixis Advisors LLC raised its holdings in shares of Insulet by 34.8% in the third quarter. Natixis Advisors LLC now owns 33,161 shares of the medical instruments supplier’s stock valued at $7,718,000 after purchasing an additional 8,554 shares during the last quarter. B. Metzler seel. Sohn & Co. Holding AG purchased a new stake in Insulet during the third quarter worth about $2,221,000. Finally, PNC Financial Services Group Inc. increased its holdings in Insulet by 7.3% during the third quarter. PNC Financial Services Group Inc. now owns 12,969 shares of the medical instruments supplier’s stock worth $3,019,000 after buying an additional 886 shares during the last quarter.

Insider Buying and Selling at Insulet

In other Insulet news, EVP Eric Benjamin sold 12,394 shares of Insulet stock in a transaction that occurred on 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 directly owns 11,383 shares in the company, valued at $3,187,240. The trade was a 52.13 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.47% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on PODD. Stifel Nicolaus raised their price objective on shares of Insulet from $245.00 to $293.00 and gave the stock a “hold” rating in a report on Friday, February 21st. Raymond James restated an “outperform” rating and set a $328.00 price objective (up previously from $294.00) on shares of Insulet in a report on Friday, February 21st. JPMorgan Chase & Co. raised their price objective on shares of Insulet from $280.00 to $330.00 and gave the stock an “overweight” rating in a report on Thursday, December 12th. Canaccord Genuity Group raised their price objective on shares of Insulet from $304.00 to $324.00 and gave the stock a “buy” rating in a report on Friday, February 21st. Finally, TD Cowen raised their price objective on shares of Insulet from $264.00 to $324.00 and gave the stock a “buy” rating in a report on Friday, January 3rd. Four research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $292.06.

Insulet Price Performance

PODD stock opened at $265.39 on Friday. The firm has a 50 day moving average of $272.11 and a 200-day moving average of $256.26. The company has a current ratio of 3.68, a quick ratio of 2.80 and a debt-to-equity ratio of 1.21. Insulet Co. has a 12 month low of $160.19 and a 12 month high of $289.46. The firm has a market capitalization of $18.64 billion, a P/E ratio of 45.84, a price-to-earnings-growth ratio of 3.62 and a beta of 1.29.

Insulet (NASDAQ:PODD) last announced its earnings results on Thursday, February 20th. The medical instruments supplier reported $1.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.00 by $0.15. Insulet had a net margin of 20.19% and a return on equity of 24.46%. The business had revenue of $597.50 million during the quarter, compared to analyst estimates of $582.02 million. As a group, sell-side analysts predict that Insulet Co. will post 3.92 earnings per share for the current fiscal year.

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.