Insulet Co. (NASDAQ:PODD) Short Interest Up 32.9% in February

Insulet Co. (NASDAQ:PODD) was the target 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 short-interest ratio is presently 4.4 days. Approximately 4.1% of the company’s shares are sold short.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the stock. Stifel Nicolaus upped their target price on shares of Insulet from $245.00 to $293.00 and gave the stock a “hold” rating in a research note on Friday, February 21st. Royal Bank of Canada initiated coverage on Insulet in a research report on Thursday, March 6th. They set an “outperform” rating and a $340.00 price objective for the company. Canaccord Genuity Group lifted their target price on Insulet from $304.00 to $324.00 and gave the company a “buy” rating in a research report on Friday, February 21st. JPMorgan Chase & Co. boosted their price objective on shares of Insulet from $280.00 to $330.00 and gave the stock an “overweight” rating in a research report on Thursday, December 12th. Finally, TD Cowen raised their target price on shares of Insulet from $264.00 to $324.00 and gave the company a “buy” rating in a research report on Friday, January 3rd. Four investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $292.06.

Insulet Price Performance

NASDAQ PODD traded up $6.22 during midday trading on Monday, hitting $261.66. The company had a trading volume of 301,256 shares, compared to its average volume of 689,037. The company has a market capitalization of $18.38 billion, a PE ratio of 45.24, a P/E/G ratio of 3.62 and a beta of 1.29. Insulet has a twelve month low of $160.19 and a twelve month high of $289.46. The company has a current ratio of 3.68, a quick ratio of 2.80 and a debt-to-equity ratio of 1.21. The firm has a 50-day moving average price of $272.54 and a 200-day moving average price of $255.32.

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

Insider Buying and Selling

In other news, EVP Eric Benjamin sold 12,394 shares of Insulet 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 $3,187,240. The trade was a 52.13 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.47% of the stock is owned by insiders.

Institutional Trading of Insulet

Several large investors have recently bought and sold shares of the business. Integrated Wealth Concepts LLC increased its position in Insulet by 1.7% during the 3rd quarter. Integrated Wealth Concepts LLC now owns 2,561 shares of the medical instruments supplier’s stock worth $596,000 after purchasing an additional 42 shares in the last quarter. Horizon Investments LLC grew its position in Insulet by 3.1% during the 4th quarter. Horizon Investments LLC now owns 1,387 shares of the medical instruments supplier’s stock worth $362,000 after acquiring an additional 42 shares during the last quarter. Nisa Investment Advisors LLC increased its holdings in Insulet by 1.0% in the 4th quarter. Nisa Investment Advisors LLC now owns 4,388 shares of the medical instruments supplier’s stock worth $1,146,000 after purchasing an additional 43 shares in the last quarter. Glenmede Trust Co. NA boosted its stake in shares of Insulet by 2.3% during the third quarter. Glenmede Trust Co. NA now owns 2,080 shares of the medical instruments supplier’s stock valued at $484,000 after purchasing an additional 47 shares in the last quarter. Finally, Graypoint LLC grew its holdings in shares of Insulet by 5.3% during the fourth quarter. Graypoint LLC now owns 930 shares of the medical instruments supplier’s stock worth $243,000 after purchasing an additional 47 shares during the last quarter.

About Insulet

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.