CIBC Asset Management Inc Purchases 6,821 Shares of Insulet Corporation $PODD

Key Points

• CIBC Asset Management increased its Insulet stake by 70.3% in the fourth quarter, buying 6,821 additional shares and bringing its total holding to 16,526 shares worth about $4.7 million.
• Insulet also saw buying from other institutional investors, while director Timothy C. Stonesifer disclosed a purchase of 2,790 shares at $143.51 each, boosting his ownership by 44.63%.
• The stock rose 4.7% to $153.22, and the company recently reported stronger-than-expected quarterly results with EPS of $1.42 and revenue up 33.9% year over year, though analysts have been cutting price targets broadly.

CIBC Asset Management Inc grew its position in shares of Insulet Corporation (NASDAQ:PODD - Free Report) by 70.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 16,526 shares of the medical instruments supplier's stock after purchasing an additional 6,821 shares during the period. CIBC Asset Management Inc's holdings in Insulet were worth $4,697,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Nordea Investment Management AB lifted its stake in Insulet by 35.0% during the fourth quarter. Nordea Investment Management AB now owns 551,133 shares of the medical instruments supplier's stock worth $157,128,000 after purchasing an additional 142,922 shares during the last quarter. ING Groep NV lifted its stake in shares of Insulet by 88.5% in the 3rd quarter. ING Groep NV now owns 17,300 shares of the medical instruments supplier's stock valued at $5,341,000 after acquiring an additional 8,123 shares during the last quarter. Jain Global LLC lifted its stake in shares of Insulet by 148.2% in the 3rd quarter. Jain Global LLC now owns 106,710 shares of the medical instruments supplier's stock valued at $32,945,000 after acquiring an additional 63,719 shares during the last quarter. Fisher Asset Management LLC lifted its stake in shares of Insulet by 38.1% in the 3rd quarter. Fisher Asset Management LLC now owns 46,273 shares of the medical instruments supplier's stock valued at $14,286,000 after acquiring an additional 12,754 shares during the last quarter. Finally, Mitsubishi UFJ Trust & Banking Corp lifted its stake in shares of Insulet by 26.5% in the 4th quarter. Mitsubishi UFJ Trust & Banking Corp now owns 43,921 shares of the medical instruments supplier's stock valued at $12,484,000 after acquiring an additional 9,206 shares during the last quarter.

Insider Transactions at Insulet

In other Insulet news, Director Timothy C. Stonesifer purchased 2,790 shares of Insulet stock in a transaction that occurred on Wednesday, June 3rd. The shares were bought at an average price of $143.51 per share, for a total transaction of $400,392.90. Following the acquisition, the director directly owned 9,041 shares in the company, valued at approximately $1,297,473.91. This trade represents a 44.63% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.36% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

PODD has been the subject of a number of recent research reports. Piper Sandler lowered their target price on Insulet from $360.00 to $210.00 in a research note on Wednesday, May 6th. The Goldman Sachs Group reissued a "buy" rating and issued a $205.00 target price on shares of Insulet in a research note on Wednesday, May 27th. Sanford C. Bernstein lowered their target price on Insulet from $330.00 to $200.00 and set an "outperform" rating for the company in a research note on Thursday, May 7th. Stifel Nicolaus lowered their target price on Insulet from $350.00 to $250.00 in a research note on Thursday, May 7th. Finally, Robert W. Baird lowered their target price on Insulet from $360.00 to $248.00 in a research note on Thursday, May 7th. Twenty-one investment analysts have rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $252.04.

Insulet Stock Up 4.7%

Shares of NASDAQ:PODD opened at $153.22 on Friday. Insulet Corporation has a 1 year low of $140.63 and a 1 year high of $354.88. The company has a market cap of $10.61 billion, a PE ratio of 35.63, a P/E/G ratio of 1.21 and a beta of 1.13. The company has a debt-to-equity ratio of 0.71, a current ratio of 2.49 and a quick ratio of 1.81. The stock's 50-day moving average is $175.73 and its 200 day moving average is $238.90.

Insulet (NASDAQ:PODD - Get Free Report) last announced its quarterly earnings results on Wednesday, May 6th. The medical instruments supplier reported $1.42 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.19 by $0.23. Insulet had a return on equity of 26.87% and a net margin of 10.44%.The company had revenue of $761.70 million for the quarter, compared to the consensus estimate of $729.89 million. During the same quarter in the previous year, the business earned $1.02 EPS. Insulet's revenue was up 33.9% compared to the same quarter last year. Insulet has set its FY 2026 guidance at 6.210- EPS. Sell-side analysts anticipate that Insulet Corporation will post 6.46 EPS for the current year.

Insulet Company Profile

Insulet Corporation is a medical device company headquartered in Acton, Massachusetts, that develops, manufactures and sells insulin-delivery systems for people with diabetes. The company's core business is the design and commercialization of its Omnipod family of tubeless, wearable insulin pumps and the consumable Pods that deliver insulin. Insulet's products aim to simplify insulin delivery for people with type 1 diabetes and insulin-requiring type 2 diabetes by offering an alternative to traditional insulin pens and tethered pump systems.

The company's product portfolio includes the Omnipod System line—disposable, waterproof Pods that adhere to the skin and deliver insulin—and the associated controllers and mobile applications used to program and monitor insulin delivery.

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