Cibc World Markets Corp Grows Stake in Insulet Co. (NASDAQ:PODD)

Cibc World Markets Corp raised its stake in Insulet Co. (NASDAQ:PODD - Free Report) by 46.1% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 13,851 shares of the medical instruments supplier's stock after buying an additional 4,368 shares during the period. Cibc World Markets Corp's holdings in Insulet were worth $3,616,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also added to or reduced their stakes in the company. SBI Securities Co. Ltd. purchased a new stake in Insulet in the fourth quarter worth about $36,000. SRS Capital Advisors Inc. raised its holdings in shares of Insulet by 43.1% in the 4th quarter. SRS Capital Advisors Inc. now owns 186 shares of the medical instruments supplier's stock valued at $49,000 after purchasing an additional 56 shares in the last quarter. TD Private Client Wealth LLC boosted its stake in shares of Insulet by 32.6% during the third quarter. TD Private Client Wealth LLC now owns 228 shares of the medical instruments supplier's stock valued at $53,000 after purchasing an additional 56 shares in the last quarter. Friedenthal Financial bought a new position in shares of Insulet during the fourth quarter valued at approximately $57,000. Finally, Assetmark Inc. increased its holdings in Insulet by 1,447.1% during the fourth quarter. Assetmark Inc. now owns 263 shares of the medical instruments supplier's stock valued at $69,000 after buying an additional 246 shares during the period.

Insider Activity

In other Insulet news, EVP Eric Benjamin sold 12,394 shares of the firm's stock in a transaction that occurred on Tuesday, January 21st. The stock was sold at an average price of $280.00, for a total value of $3,470,320.00. Following the sale, the executive vice president now directly owns 11,383 shares of the company's stock, valued at approximately $3,187,240. This trade represents a 52.13 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.47% of the company's stock.

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Wall Street Analyst Weigh In

PODD has been the topic of a number of recent research reports. Citigroup raised their price objective on Insulet from $310.00 to $355.00 and gave the company a "buy" rating in a research report on Friday, February 21st. TD Cowen raised their price objective on Insulet from $264.00 to $324.00 and gave the stock a "buy" rating in a research report on Friday, January 3rd. Raymond James reiterated an "outperform" rating and issued a $328.00 price target (up from $294.00) on shares of Insulet in a research note on Friday, February 21st. Piper Sandler boosted their price target on Insulet from $285.00 to $310.00 and gave the stock an "overweight" rating in a research note on Friday, February 21st. Finally, Stifel Nicolaus increased their price objective on shares of Insulet from $245.00 to $293.00 and gave the company a "hold" rating in a research report on Friday, February 21st. Four equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $292.06.

Insulet Stock Performance

PODD stock traded down $1.33 during trading on Tuesday, hitting $272.71. 958,497 shares of the company traded hands, compared to its average volume of 690,203. Insulet Co. has a 1 year low of $160.19 and a 1 year high of $289.46. The company has a market cap of $19.15 billion, a PE ratio of 47.10, a P/E/G ratio of 3.62 and a beta of 1.29. The stock's 50-day simple moving average is $272.16 and its 200 day simple moving average is $257.78. 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 - Get Free Report) last posted its earnings results on Thursday, February 20th. The medical instruments supplier reported $1.15 earnings per share 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 firm had revenue of $597.50 million during the quarter, compared to analyst estimates of $582.02 million. On average, equities analysts expect that Insulet Co. will post 3.92 earnings per share 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.