CIBC Asset Management Inc Purchases 476 Shares of Insulet Co. (NASDAQ:PODD)

CIBC Asset Management Inc increased its position in shares of Insulet Co. (NASDAQ:PODD) by 4.7% in the 4th quarter, HoldingsChannel reports. The fund 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 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of PODD. Integrated Wealth Concepts LLC boosted its holdings in shares of 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 acquiring an additional 42 shares during the last quarter. Nisa Investment Advisors LLC boosted its holdings in shares of Insulet by 1.0% in the 4th quarter. Nisa Investment Advisors LLC now owns 4,388 shares of the medical instruments supplier’s stock valued at $1,146,000 after acquiring an additional 43 shares during the last quarter. Glenmede Trust Co. NA boosted its holdings in shares of Insulet by 2.3% in the 3rd 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 last quarter. Graypoint LLC boosted its holdings in shares of Insulet by 5.3% in the 4th quarter. Graypoint LLC now owns 930 shares of the medical instruments supplier’s stock valued at $243,000 after acquiring an additional 47 shares during the last quarter. Finally, Wilmington Savings Fund Society FSB boosted its holdings in shares of Insulet by 9.6% in the 4th quarter. Wilmington Savings Fund Society FSB now owns 538 shares of the medical instruments supplier’s stock valued at $140,000 after acquiring an additional 47 shares during the last quarter.

Insulet Trading Up 1.6 %

Shares of PODD opened at $288.29 on Friday. 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 50-day moving average price of $272.71 and a 200 day moving average price of $246.47. The firm has a market capitalization of $20.22 billion, a P/E ratio of 49.36, a P/E/G ratio of 3.52 and a beta of 1.23.

Insulet (NASDAQ:PODD) last announced its quarterly earnings data on Thursday, February 20th. The medical instruments supplier reported $1.15 earnings per share (EPS) 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%. Sell-side analysts forecast that Insulet Co. will post 3.22 EPS for the current year.

Analysts Set New Price Targets

Several research firms recently issued reports on PODD. Morgan Stanley boosted their target price on shares of Insulet from $234.00 to $317.00 and gave the company an “overweight” rating in a research note on Monday, November 11th. Sanford C. Bernstein started coverage on shares of Insulet in a research report on Wednesday, November 6th. They set an “outperform” rating and a $300.00 price objective for the company. BTIG Research upped their price objective on shares of Insulet from $260.00 to $270.00 and gave the stock a “buy” rating in a research report on Friday, November 8th. Wells Fargo & Company upped their price objective on shares of Insulet from $290.00 to $305.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 11th. Finally, Barclays upped their price objective on shares of Insulet from $220.00 to $234.00 and gave the stock an “equal weight” rating in a research report on Monday, November 11th. Two research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the 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 Activity at Insulet

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 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CAO Lauren Budden sold 915 shares of the 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 transaction, the chief accounting officer now directly owns 5,733 shares of the company’s stock, valued at approximately $1,580,129.46. This trade represents a 13.76 % decrease in their position. The disclosure for this sale can be found here. 0.47% of the stock is currently owned by 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.