Short Interest in Insulet Corporation (NASDAQ:PODD) Rises By 19.3%

Insulet Corporation (NASDAQ:PODD) saw a large growth in short interest in March. As of March 31st, there was short interest totaling 3,049,595 shares, a growth of 19.3% from the March 15th total of 2,555,922 shares. Based on an average daily volume of 865,626 shares, the short-interest ratio is currently 3.5 days. Approximately 4.4% of the company’s shares are short sold.

Insulet Trading Up 1.1%

PODD traded up $2.26 during trading on Friday, hitting $203.73. 864,511 shares of the stock traded hands, compared to its average volume of 814,618. The firm has a market capitalization of $14.11 billion, a P/E ratio of 58.21, a price-to-earnings-growth ratio of 1.21 and a beta of 1.47. 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 firm has a 50-day moving average of $227.50 and a 200 day moving average of $275.74. Insulet has a 12-month low of $194.61 and a 12-month high of $354.88.

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

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on PODD. Raymond James Financial cut their price objective on shares of Insulet from $385.00 to $355.00 and set an “outperform” rating for the company in a research note on Thursday, February 19th. Sanford C. Bernstein cut their price objective on shares of Insulet from $380.00 to $330.00 and set an “outperform” rating for the company in a research note on Thursday, February 19th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Insulet in a research note on Thursday, January 22nd. The Goldman Sachs Group cut their price objective on shares of Insulet from $326.00 to $277.00 and set a “buy” rating for the company in a research note on Wednesday, April 8th. Finally, Stifel Nicolaus cut their price objective on shares of Insulet from $370.00 to $350.00 and set a “buy” rating for the company in a research note on Wednesday, February 4th. Nineteen investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Insulet has a consensus rating of “Moderate Buy” and a consensus price target of $334.38.

Insider Activity

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

Institutional Investors Weigh In On Insulet

Institutional investors have recently added to or reduced their stakes in the company. Larson Financial Group LLC boosted its position in Insulet by 114.6% during the 4th quarter. Larson Financial Group LLC now owns 88 shares of the medical instruments supplier’s stock valued at $25,000 after buying an additional 47 shares during the period. University of Texas Texas AM Investment Management Co. purchased a new stake in Insulet during the 4th quarter valued at $26,000. Elyxium Wealth LLC purchased a new stake in Insulet during the 4th quarter valued at $28,000. DV Equities LLC bought a new position in Insulet in the 4th quarter worth $28,000. Finally, MV Capital Management Inc. bought a new position in Insulet in the 4th quarter worth $29,000.

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.