Insulet Co. (NASDAQ:PODD) Short Interest Update

Insulet Co. (NASDAQ:PODD - Get Free Report) was the recipient of a significant drop in short interest during the month of March. As of March 31st, there was short interest totalling 2,400,000 shares, a drop of 16.7% from the March 15th total of 2,880,000 shares. Based on an average daily trading volume, of 775,100 shares, the short-interest ratio is presently 3.1 days. Currently, 3.4% of the company's shares are sold short.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on PODD. Canaccord Genuity Group increased their price objective on shares of Insulet from $304.00 to $324.00 and gave the stock a "buy" rating in a research report on Friday, February 21st. TD Cowen boosted their price target on Insulet from $264.00 to $324.00 and gave the stock a "buy" rating in a research report on Friday, January 3rd. Raymond James reissued an "outperform" rating and issued a $328.00 price objective (up previously from $294.00) on shares of Insulet in a report on Friday, February 21st. StockNews.com downgraded shares of Insulet from a "buy" rating to a "hold" rating in a report on Tuesday, March 4th. Finally, Piper Sandler increased their price target on shares of Insulet from $285.00 to $310.00 and gave the company an "overweight" rating in a research note on Friday, February 21st. Four equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $292.06.

Insulet Stock Performance

Shares of Insulet stock traded up $13.94 on Thursday, hitting $260.43. The stock had a trading volume of 295,158 shares, compared to its average volume of 714,075. The stock has a market cap of $18.29 billion, a price-to-earnings ratio of 45.09, a price-to-earnings-growth ratio of 3.62 and a beta of 1.30. The company has a quick ratio of 2.80, a current ratio of 3.68 and a debt-to-equity ratio of 1.21. Insulet has a twelve month low of $160.19 and a twelve month high of $289.46. The business's 50 day moving average is $261.03 and its two-hundred day moving average is $261.05.

Insulet (NASDAQ:PODD - Get Free Report) last released its quarterly earnings results on Thursday, February 20th. The medical instruments supplier reported $1.15 EPS for the quarter, topping 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 analyst estimates of $582.02 million. Analysts forecast that Insulet will post 3.92 EPS for the current year.

Insiders Place Their Bets

In other Insulet news, Director Wayne A.I. Frederick sold 1,825 shares of the stock in a transaction dated Tuesday, March 25th. The stock was sold at an average price of $275.00, for a total value of $501,875.00. Following the completion of the sale, the director now directly owns 3,231 shares in the company, valued at $888,525. This represents a 36.10 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.47% of the company's stock.

Hedge Funds Weigh In On Insulet

Hedge funds and other institutional investors have recently made changes to their positions in the company. SBI Securities Co. Ltd. acquired a new position in Insulet during the fourth quarter valued at approximately $36,000. Itau Unibanco Holding S.A. acquired a new stake in Insulet in the fourth quarter valued at about $42,000. SRS Capital Advisors Inc. grew its position in Insulet by 43.1% in the fourth quarter. SRS Capital Advisors Inc. now owns 186 shares of the medical instruments supplier's stock valued at $49,000 after acquiring an additional 56 shares during the last quarter. Golden State Wealth Management LLC raised its stake in Insulet by 553.1% during the first quarter. Golden State Wealth Management LLC now owns 209 shares of the medical instruments supplier's stock worth $55,000 after acquiring an additional 177 shares in the last quarter. Finally, Friedenthal Financial bought a new position in shares of Insulet in the fourth quarter worth about $57,000.

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.