Insulet Corporation (NASDAQ:PODD) Sees Significant Increase in Short Interest

Insulet Corporation (NASDAQ:PODD) was the target of a large increase in short interest in the month of February. As of February 27th, there was short interest totaling 2,817,783 shares, an increase of 86.4% from the February 12th total of 1,511,612 shares. Based on an average daily volume of 1,172,256 shares, the short-interest ratio is currently 2.4 days. Currently, 4.0% of the shares of the company are short sold. Currently, 4.0% of the shares of the company are short sold. Based on an average daily volume of 1,172,256 shares, the short-interest ratio is currently 2.4 days.

Insiders Place Their Bets

In related news, Director Michael R. Minogue bought 2,030 shares of the firm’s stock in a transaction on Wednesday, February 25th. The stock was acquired at an average cost of $246.23 per share, for a total transaction of $499,846.90. Following the purchase, the director owned 17,483 shares in the company, valued at approximately $4,304,839.09. This represents a 13.14% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.39% of the company’s stock.

Institutional Investors Weigh In On Insulet

A number of institutional investors and hedge funds have recently added to or reduced their stakes in PODD. NewEdge Advisors LLC boosted its position in shares of Insulet by 44.8% in the first quarter. NewEdge Advisors LLC now owns 207 shares of the medical instruments supplier’s stock worth $54,000 after purchasing an additional 64 shares during the period. Penserra Capital Management LLC bought a new stake in shares of Insulet during the 2nd quarter valued at $67,000. Connor Clark & Lunn Investment Management Ltd. bought a new stake in shares of Insulet during the 2nd quarter valued at $7,002,000. Campbell & CO Investment Adviser LLC purchased a new position in shares of Insulet during the 2nd quarter valued at $1,081,000. Finally, Profund Advisors LLC boosted its holdings in Insulet by 9.7% in the 2nd quarter. Profund Advisors LLC now owns 1,101 shares of the medical instruments supplier’s stock worth $346,000 after buying an additional 97 shares during the period.

Insulet Price Performance

Shares of Insulet stock opened at $236.07 on Friday. The stock has a market cap of $16.62 billion, a P/E ratio of 67.45, a P/E/G ratio of 1.43 and a beta of 1.42. The company has a debt-to-equity ratio of 0.61, a quick ratio of 2.15 and a current ratio of 2.81. The stock’s fifty day moving average is $259.73 and its 200 day moving average is $298.06. Insulet has a one year low of $233.29 and a one year high of $354.88.

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

Wall Street Analysts Forecast Growth

PODD has been the subject of several research analyst reports. BTIG Research reaffirmed a “buy” rating and issued a $380.00 price objective on shares of Insulet in a report on Wednesday, February 18th. Zacks Research downgraded Insulet from a “strong-buy” rating to a “hold” rating in a report on Monday, January 5th. Citigroup dropped their target price on Insulet from $345.00 to $338.00 and set a “buy” rating on the stock in a research report on Wednesday. The Goldman Sachs Group cut their price target on Insulet from $363.00 to $326.00 and set a “buy” rating for the company in a research note on Thursday, February 19th. Finally, Stifel Nicolaus lowered their price objective on shares of Insulet from $370.00 to $350.00 and set a “buy” rating on the stock in a research note on Wednesday, February 4th. Twenty analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Insulet has a consensus rating of “Moderate Buy” and an average price target of $354.24.

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.