Short Interest in Insulet Corporation (NASDAQ:PODD) Grows By 19.3%

Insulet Corporation (NASDAQ:PODD) was the recipient of a significant increase in short interest during the month of March. As of March 31st, there was short interest totaling 3,049,595 shares, an increase of 19.3% from the March 15th total of 2,555,922 shares. Currently, 4.4% of the shares of the stock are short sold. Based on an average daily volume of 865,626 shares, the days-to-cover ratio is currently 3.5 days.

Insider Transactions at Insulet

In other news, Director Michael R. Minogue acquired 2,030 shares of Insulet stock in a transaction that occurred on Wednesday, February 25th. The stock was purchased at an average cost of $246.23 per share, with a total value of $499,846.90. Following the completion of the acquisition, the director owned 17,483 shares in the company, valued at $4,304,839.09. This trade represents a 13.14% increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate insiders own 0.39% of the company’s stock.

Hedge Funds Weigh In On Insulet

Institutional investors have recently made changes to their positions in the stock. Larson Financial Group LLC raised its holdings in shares of Insulet by 114.6% in the fourth quarter. Larson Financial Group LLC now owns 88 shares of the medical instruments supplier’s stock worth $25,000 after acquiring an additional 47 shares during the last quarter. University of Texas Texas AM Investment Management Co. acquired a new position in Insulet in the fourth quarter valued at $26,000. True Wealth Design LLC increased its stake in Insulet by 288.0% in the third quarter. True Wealth Design LLC now owns 97 shares of the medical instruments supplier’s stock valued at $30,000 after purchasing an additional 72 shares during the last quarter. DV Equities LLC acquired a new position in Insulet in the fourth quarter valued at $28,000. Finally, Elyxium Wealth LLC acquired a new position in Insulet in the fourth quarter valued at $28,000.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on PODD shares. Raymond James Financial reduced their price objective on Insulet from $385.00 to $355.00 and set an “outperform” rating for the company in a report on Thursday, February 19th. The Goldman Sachs Group reduced their price objective on Insulet from $326.00 to $277.00 and set a “buy” rating for the company in a report on Wednesday, April 8th. TD Cowen cut Insulet from a “buy” rating to a “hold” rating and set a $294.00 price objective for the company. in a report on Monday, January 26th. Leerink Partners reduced their price objective on Insulet from $386.00 to $360.00 and set an “outperform” rating for the company in a report on Thursday, February 19th. Finally, Oppenheimer reduced their price objective on Insulet from $365.00 to $300.00 and set an “outperform” rating for the company in a report on Thursday, February 19th. Nineteen analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $334.38.

Insulet Stock Performance

NASDAQ PODD opened at $203.73 on Friday. Insulet has a fifty-two week low of $194.61 and a fifty-two week high of $354.88. The stock has a market cap of $14.11 billion, a price-to-earnings ratio of 58.21, a price-to-earnings-growth ratio of 1.21 and a beta of 1.47. The business has a fifty day moving average of $227.50 and a 200-day moving average of $275.51. The company has a quick ratio of 2.15, a current ratio of 2.81 and a debt-to-equity ratio of 0.61.

Insulet (NASDAQ:PODD) last released its quarterly earnings results on Wednesday, February 18th. The medical instruments supplier reported $1.55 earnings per share for the quarter, topping analysts’ consensus estimates of $1.48 by $0.07. Insulet had a return on equity of 24.90% and a net margin of 9.12%.The company had revenue of $783.80 million during the quarter, compared to analysts’ expectations of $768.31 million. During the same period in the previous year, the firm posted $1.15 earnings per share. The business’s revenue for the quarter was up 31.2% compared to the same quarter last year. As a group, analysts predict that Insulet will post 3.92 earnings per share for the current fiscal year.

About Insulet

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.