Short Interest in Insulet Corporation (NASDAQ:PODD) Decreases By 21.8%

Insulet Corporation (NASDAQ:PODD) was the target of a significant decrease in short interest in February. As of February 13th, there was short interest totaling 1,511,612 shares, a decrease of 21.8% from the January 29th total of 1,932,265 shares. Based on an average daily trading volume, of 994,952 shares, the days-to-cover ratio is presently 1.5 days. Approximately 2.2% of the shares of the stock are short sold. Approximately 2.2% of the shares of the stock are short sold. Based on an average daily trading volume, of 994,952 shares, the days-to-cover ratio is presently 1.5 days.

Insulet Stock Performance

Shares of NASDAQ:PODD traded down $3.61 during midday trading on Tuesday, hitting $241.84. The stock had a trading volume of 938,538 shares, compared to its average volume of 1,109,126. Insulet has a 1 year low of $230.05 and a 1 year high of $354.88. The stock has a 50 day moving average price of $266.41 and a two-hundred day moving average price of $302.04. The company has a market capitalization of $17.03 billion, a PE ratio of 69.10, a P/E/G ratio of 1.46 and a beta of 1.42. The company has a current ratio of 2.81, a quick ratio of 2.15 and a debt-to-equity ratio of 0.61.

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

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. Royal Bank Of Canada upped their target price on shares of Insulet from $370.00 to $380.00 and gave the stock an “outperform” rating in a research note on Friday, November 21st. Leerink Partners dropped their price objective on shares of Insulet from $386.00 to $360.00 and set an “outperform” rating on the stock in a research report on Thursday, February 19th. UBS Group restated a “buy” rating on shares of Insulet in a report on Thursday, December 18th. Canaccord Genuity Group lowered their target price on shares of Insulet from $450.00 to $435.00 and set a “buy” rating for the company in a research note on Wednesday, February 18th. Finally, Zacks Research lowered Insulet from a “strong-buy” rating to a “hold” rating in a report on Monday, January 5th. 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 company’s stock. According to data from MarketBeat.com, Insulet presently has a consensus rating of “Moderate Buy” and a consensus price target of $354.57.

Insider Activity

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

Institutional Investors Weigh In On Insulet

Institutional investors and hedge funds have recently modified their holdings of the stock. Sit Investment Associates Inc. boosted its position in Insulet by 13.9% in the 4th quarter. Sit Investment Associates Inc. now owns 18,634 shares of the medical instruments supplier’s stock valued at $5,297,000 after buying an additional 2,277 shares during the last quarter. MidFirst Bank acquired a new position in shares of Insulet in the fourth quarter worth about $394,000. Kera Capital Partners Inc. boosted its holdings in Insulet by 92.0% in the fourth quarter. Kera Capital Partners Inc. now owns 1,966 shares of the medical instruments supplier’s stock valued at $559,000 after purchasing an additional 942 shares during the last quarter. Virtu Financial LLC grew its stake in Insulet by 126.5% during the 4th quarter. Virtu Financial LLC now owns 4,628 shares of the medical instruments supplier’s stock valued at $1,315,000 after purchasing an additional 2,585 shares in the last quarter. Finally, MV Capital Management Inc. acquired a new stake in Insulet during the 4th quarter valued at approximately $29,000.

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.