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

CIBC Asset Management Inc grew its holdings in shares of Insulet Co. (NASDAQ:PODD) by 8.3% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 10,203 shares of the medical instruments supplier’s stock after purchasing an additional 783 shares during the quarter. CIBC Asset Management Inc’s holdings in Insulet were worth $2,375,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in PODD. QRG Capital Management Inc. purchased a new position in Insulet in the third quarter valued at about $297,000. Diversified Trust Co lifted its stake in Insulet by 90.9% in the second quarter. Diversified Trust Co now owns 9,130 shares of the medical instruments supplier’s stock valued at $1,842,000 after purchasing an additional 4,348 shares during the last quarter. Natixis bought a new position in Insulet during the first quarter valued at $3,610,000. Linden Thomas Advisory Services LLC increased its position in Insulet by 65.8% in the second quarter. Linden Thomas Advisory Services LLC now owns 8,812 shares of the medical instruments supplier’s stock worth $1,778,000 after buying an additional 3,497 shares during the last quarter. Finally, Assenagon Asset Management S.A. raised its stake in shares of Insulet by 38.8% in the second quarter. Assenagon Asset Management S.A. now owns 179,393 shares of the medical instruments supplier’s stock valued at $36,202,000 after buying an additional 50,101 shares during the period.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the company. Citigroup lifted their price objective on Insulet from $250.00 to $275.00 and gave the stock a “buy” rating in a report on Tuesday, October 1st. Piper Sandler boosted their price target on shares of Insulet from $230.00 to $285.00 and gave the company an “overweight” rating in a research report on Tuesday, September 17th. BTIG Research raised their price objective on shares of Insulet from $260.00 to $270.00 and gave the stock a “buy” rating in a report on Friday, November 8th. UBS Group boosted their target price on shares of Insulet from $211.00 to $223.00 and gave the company a “neutral” rating in a report on Friday, August 9th. Finally, Barclays raised their price target on Insulet from $220.00 to $234.00 and gave the stock an “equal weight” rating in a report on Monday, November 11th. Three investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $253.27.

Insulet Trading Up 0.5 %

Shares of PODD opened at $261.99 on Wednesday. Insulet Co. has a 1-year low of $160.19 and a 1-year high of $279.40. The company has a market capitalization of $18.38 billion, a P/E ratio of 44.86, a P/E/G ratio of 3.98 and a beta of 1.22. The company has a debt-to-equity ratio of 1.21, a current ratio of 3.68 and a quick ratio of 2.80. The firm’s 50 day simple moving average is $239.31 and its 200 day simple moving average is $209.22.

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.