Insulet Co. (NASDAQ:PODD) Short Interest Update

Insulet Co. (NASDAQ:PODD) was the recipient of a significant growth in short interest in the month of February. As of February 28th, there was short interest totalling 2,870,000 shares, a growth of 32.9% from the February 13th total of 2,160,000 shares. Based on an average daily volume of 652,100 shares, the days-to-cover ratio is currently 4.4 days. Currently, 4.1% of the shares of the company are sold short.

Insulet Price Performance

Insulet stock traded down $4.07 during mid-day trading on Tuesday, hitting $257.56. 413,088 shares of the company were exchanged, compared to its average volume of 706,274. The company has a quick ratio of 2.80, a current ratio of 3.68 and a debt-to-equity ratio of 1.21. The business has a fifty day moving average of $272.40 and a 200 day moving average of $255.72. Insulet has a 1-year low of $160.19 and a 1-year high of $289.46. The company has a market capitalization of $18.09 billion, a PE ratio of 44.55, a price-to-earnings-growth ratio of 3.62 and a beta of 1.29.

Insulet (NASDAQ:PODD) last released its quarterly earnings data on Thursday, February 20th. The medical instruments supplier reported $1.15 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.00 by $0.15. Insulet had a return on equity of 24.46% and a net margin of 20.19%. The firm had revenue of $597.50 million during the quarter, compared to analyst estimates of $582.02 million. As a group, sell-side analysts expect that Insulet will post 3.92 earnings per share for the current year.

Insiders Place Their Bets

In other Insulet news, EVP Eric Benjamin sold 12,394 shares of the company’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 transaction of $3,470,320.00. Following the completion of the sale, the executive vice president now owns 11,383 shares of the company’s stock, valued at $3,187,240. This 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 available through the SEC website. Company insiders own 0.47% of the company’s stock.

Institutional Trading of Insulet

Hedge funds and other institutional investors have recently made changes to their positions in the business. SBI Securities Co. Ltd. acquired a new stake in shares of Insulet in the fourth quarter valued at $36,000. Venturi Wealth Management LLC increased its position in Insulet by 633.3% in the third quarter. Venturi Wealth Management LLC now owns 154 shares of the medical instruments supplier’s stock worth $36,000 after purchasing an additional 133 shares during the period. Itau Unibanco Holding S.A. acquired a new stake in Insulet in the fourth quarter worth about $42,000. SRS Capital Advisors Inc. increased its position in Insulet by 43.1% in the fourth quarter. SRS Capital Advisors Inc. now owns 186 shares of the medical instruments supplier’s stock worth $49,000 after purchasing an additional 56 shares during the period. Finally, Friedenthal Financial acquired a new stake in Insulet in the fourth quarter worth about $57,000.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the company. Piper Sandler upped their target price on Insulet from $285.00 to $310.00 and gave the stock an “overweight” rating in a research report on Friday, February 21st. Wells Fargo & Company increased their price objective on Insulet from $305.00 to $322.00 and gave the company an “overweight” rating in a research report on Friday, February 21st. JPMorgan Chase & Co. increased their price objective on Insulet from $280.00 to $330.00 and gave the company an “overweight” rating in a research report on Thursday, December 12th. StockNews.com cut Insulet from a “buy” rating to a “hold” rating in a research report on Tuesday, March 4th. Finally, Raymond James reissued an “outperform” rating and issued a $328.00 price objective (up from $294.00) on shares of Insulet in a research report on Friday, February 21st. Four investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $292.06.

Insulet Company Profile

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.