Insulet Co. (NASDAQ:PODD) Short Interest Update

Insulet Co. (NASDAQ:PODD) was the recipient of a significant increase in short interest in the month of February. As of February 28th, there was short interest totalling 2,870,000 shares, an increase 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. Approximately 4.1% of the company’s shares are short sold.

Insulet Stock Down 1.6 %

Shares of NASDAQ:PODD traded down $4.07 during trading on Tuesday, hitting $257.56. 413,088 shares of the company were exchanged, compared to its average volume of 706,274. The stock has a market cap of $18.09 billion, a price-to-earnings ratio of 44.55, a P/E/G ratio of 3.62 and a beta of 1.29. Insulet has a fifty-two week low of $160.19 and a fifty-two week high of $289.46. The firm has a fifty day moving average price of $272.40 and a two-hundred day moving average price of $255.72. The company has a current ratio of 3.68, a quick ratio of 2.80 and a debt-to-equity ratio of 1.21.

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

Insider Buying and Selling

In other Insulet news, EVP Eric Benjamin sold 12,394 shares of the firm’s stock in a transaction dated 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 transaction, the executive vice president now owns 11,383 shares in the company, valued at approximately $3,187,240. This trade represents a 52.13 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.47% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the stock. Venturi Wealth Management LLC increased its holdings in shares of Insulet by 633.3% during the 3rd quarter. Venturi Wealth Management LLC now owns 154 shares of the medical instruments supplier’s stock worth $36,000 after acquiring an additional 133 shares during the last quarter. SBI Securities Co. Ltd. acquired a new position in shares of Insulet during the 4th quarter worth approximately $36,000. Itau Unibanco Holding S.A. acquired a new position in shares of Insulet during the 4th quarter worth approximately $42,000. SRS Capital Advisors Inc. increased its holdings in shares of Insulet by 43.1% during the 4th quarter. SRS Capital Advisors Inc. now owns 186 shares of the medical instruments supplier’s stock worth $49,000 after acquiring an additional 56 shares during the last quarter. Finally, TD Private Client Wealth LLC increased its holdings in shares of Insulet by 32.6% during the 3rd quarter. TD Private Client Wealth LLC now owns 228 shares of the medical instruments supplier’s stock worth $53,000 after acquiring an additional 56 shares during the last quarter.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the company. Raymond James restated an “outperform” rating and set a $328.00 target price (up previously from $294.00) on shares of Insulet in a report on Friday, February 21st. TD Cowen raised their target price on Insulet from $264.00 to $324.00 and gave the stock a “buy” rating in a report on Friday, January 3rd. Citigroup lifted their price objective on Insulet from $310.00 to $355.00 and gave the company a “buy” rating in a report on Friday, February 21st. Stifel Nicolaus lifted their price objective on Insulet from $245.00 to $293.00 and gave the company a “hold” rating in a report on Friday, February 21st. Finally, StockNews.com cut Insulet from a “buy” rating to a “hold” rating in a report on Tuesday, March 4th. Four analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price 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.