Insulet (NASDAQ:PODD) Stock Price Down 8.9% – Time to Sell?

Insulet Corporation (NASDAQ:PODD) fell 8.9% on Wednesday . The company traded as low as $167.00 and last traded at $166.6170. 839,014 shares traded hands during mid-day trading, a decline of 13% from the average session volume of 969,845 shares. The stock had previously closed at $182.87.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on PODD shares. Sanford C. Bernstein decreased their price target on Insulet from $380.00 to $330.00 and set an “outperform” rating for the company in a research note on Thursday, February 19th. The Goldman Sachs Group reduced their price objective on Insulet from $326.00 to $277.00 and set a “buy” rating for the company in a report on Wednesday, April 8th. Rothschild & Co Redburn reissued a “neutral” rating and issued a $220.00 target price (down from $380.00) on shares of Insulet in a research report on Friday, April 24th. BTIG Research lowered their target price on shares of Insulet from $380.00 to $320.00 and set a “buy” rating on the stock in a research note on Monday, April 13th. Finally, TD Cowen cut shares of Insulet from a “buy” rating to a “hold” rating and set a $294.00 price objective for the company. in a report on Monday, January 26th. Eighteen research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $327.24.

Insulet Stock Up 1.7%

The company has a fifty day simple moving average of $216.37 and a 200-day simple moving average of $267.83. The company has a quick ratio of 2.15, a current ratio of 2.81 and a debt-to-equity ratio of 0.61. The firm has a market cap of $12.12 billion, a P/E ratio of 50.01, a price-to-earnings-growth ratio of 0.96 and a beta of 1.47.

Insulet (NASDAQ:PODD) last released its earnings results on Wednesday, February 18th. The medical instruments supplier reported $1.55 EPS for the quarter, topping analysts’ consensus estimates of $1.48 by $0.07. The company had revenue of $783.80 million for 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 was up 31.2% compared to the same quarter last year. During the same quarter last year, the business earned $1.15 EPS. On average, equities analysts anticipate that Insulet Corporation will post 6.16 earnings per share for the current year.

Insider Activity

In related news, Director Michael R. Minogue bought 2,030 shares of the company’s stock in a transaction that occurred on Wednesday, February 25th. The stock was purchased at an average price of $246.23 per share, for a total transaction of $499,846.90. Following the completion of the transaction, the director owned 17,483 shares in the company, valued at $4,304,839.09. The trade was a 13.14% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.36% of the stock is currently owned by insiders.

Institutional Trading of Insulet

Several hedge funds have recently modified their holdings of the company. Larson Financial Group LLC raised its position in shares of 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 in the last quarter. University of Texas Texas AM Investment Management Co. bought a new position in shares of Insulet during the fourth quarter valued at approximately $26,000. Elyxium Wealth LLC bought a new position in shares of Insulet during the fourth quarter valued at approximately $28,000. DV Equities LLC purchased a new stake in shares of Insulet in the fourth quarter worth approximately $28,000. Finally, MV Capital Management Inc. purchased a new stake in shares of Insulet in the fourth quarter worth 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.