Insulet Corporation (NASDAQ:PODD) Short Interest Down 21.8% in February

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

Analyst Ratings Changes

Several equities analysts have recently commented on the stock. Raymond James Financial lowered their price target on shares of Insulet from $385.00 to $355.00 and set an “outperform” rating for the company in a research report on Thursday, February 19th. Oppenheimer reduced their target price on shares of Insulet from $365.00 to $300.00 and set an “outperform” rating for the company in a research note on Thursday, February 19th. Leerink Partners dropped their price target on shares of Insulet from $386.00 to $360.00 and set an “outperform” rating on the stock in a research note on Thursday, February 19th. TD Cowen cut Insulet from a “buy” rating to a “hold” rating and set a $294.00 price target on the stock. in a report on Monday, January 26th. Finally, UBS Group reissued a “buy” rating on shares of Insulet in a report on Thursday, December 18th. Twenty equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Insulet has a consensus rating of “Moderate Buy” and a consensus target price of $354.57.

Insider Activity

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

Institutional Investors Weigh In On Insulet

Hedge funds and other institutional investors have recently bought and sold shares of the business. Sage Mountain Advisors LLC boosted its position in shares of Insulet by 4.6% during the 3rd quarter. Sage Mountain Advisors LLC now owns 743 shares of the medical instruments supplier’s stock valued at $229,000 after purchasing an additional 33 shares in the last quarter. Glenmede Investment Management LP boosted its holdings in Insulet by 1.6% during the third quarter. Glenmede Investment Management LP now owns 2,292 shares of the medical instruments supplier’s stock worth $708,000 after buying an additional 35 shares in the last quarter. Curi Capital LLC boosted its holdings in Insulet by 0.8% during the second quarter. Curi Capital LLC now owns 4,346 shares of the medical instruments supplier’s stock worth $1,365,000 after buying an additional 36 shares in the last quarter. WINTON GROUP Ltd grew its position in Insulet by 0.9% in the third quarter. WINTON GROUP Ltd now owns 4,086 shares of the medical instruments supplier’s stock worth $1,261,000 after buying an additional 37 shares during the last quarter. Finally, Evelyn Partners Investment Management Services Ltd increased its holdings in shares of Insulet by 28.7% in the second quarter. Evelyn Partners Investment Management Services Ltd now owns 175 shares of the medical instruments supplier’s stock valued at $55,000 after buying an additional 39 shares in the last quarter.

Insulet Trading Down 1.9%

Insulet stock opened at $246.61 on Monday. Insulet has a 12-month low of $230.05 and a 12-month high of $354.88. The company has a debt-to-equity ratio of 0.61, a current ratio of 2.81 and a quick ratio of 2.15. The stock has a market capitalization of $17.36 billion, a PE ratio of 70.46, a price-to-earnings-growth ratio of 1.47 and a beta of 1.42. The firm has a 50 day simple moving average of $268.21 and a 200-day simple moving average of $303.09.

Insulet (NASDAQ:PODD) last released its 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 firm had revenue of $783.80 million during the quarter, compared to the consensus estimate of $768.31 million. During the same period in the prior year, the firm posted $1.15 earnings per share. The firm’s revenue for the quarter was up 31.2% compared to the same quarter last year. As a group, equities research analysts expect that Insulet will post 3.92 EPS 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.