Insulet Co. (NASDAQ:PODD) Sees Significant Increase in Short Interest

Insulet Co. (NASDAQ:PODD - Get Free Report) was the target of a large growth in short interest in February. As of February 28th, there was short interest totalling 2,870,000 shares, a growth of 32.9% from the February 13th total of 2,160,000 shares. Approximately 4.1% of the shares of the stock are sold short. Based on an average daily trading volume, of 652,100 shares, the days-to-cover ratio is presently 4.4 days.

Insider Buying and Selling at Insulet

In other news, EVP Eric Benjamin sold 12,394 shares of the business's 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 completion of the transaction, the executive vice president now owns 11,383 shares of the company's stock, valued at approximately $3,187,240. The trade was a 52.13 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.47% of the company's stock.

Hedge Funds Weigh In On Insulet

A number of hedge funds and other institutional investors have recently made changes to their positions in PODD. Venturi Wealth Management LLC raised its holdings in shares of Insulet by 633.3% during the third quarter. Venturi Wealth Management LLC now owns 154 shares of the medical instruments supplier's stock valued at $36,000 after acquiring an additional 133 shares in the last quarter. GSA Capital Partners LLP purchased a new stake in Insulet in the third quarter worth $1,017,000. Sumitomo Mitsui Trust Group Inc. grew its stake in Insulet by 3.5% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 156,326 shares of the medical instruments supplier's stock worth $36,385,000 after purchasing an additional 5,226 shares during the period. Prime Capital Investment Advisors LLC purchased a new stake in Insulet in the third quarter worth $265,000. Finally, Victory Capital Management Inc. grew its stake in Insulet by 5.1% in the third quarter. Victory Capital Management Inc. now owns 35,706 shares of the medical instruments supplier's stock worth $8,311,000 after purchasing an additional 1,724 shares during the period.

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Analysts Set New Price Targets

PODD has been the subject of several recent analyst reports. JPMorgan Chase & Co. boosted their price objective on Insulet from $280.00 to $330.00 and gave the stock an "overweight" rating in a report on Thursday, December 12th. Citigroup boosted their price objective on Insulet from $310.00 to $355.00 and gave the stock a "buy" rating in a report on Friday, February 21st. Royal Bank of Canada initiated coverage on Insulet in a research note on Thursday, March 6th. They issued an "outperform" rating and a $340.00 target price for the company. StockNews.com lowered Insulet from a "buy" rating to a "hold" rating in a research note on Tuesday, March 4th. Finally, Canaccord Genuity Group upped their target price on Insulet from $304.00 to $324.00 and gave the stock a "buy" rating in a research note on Friday, February 21st. Four equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $292.06.

Insulet Trading Up 0.1 %

Shares of Insulet stock traded up $0.19 during midday trading on Thursday, reaching $266.01. 281,247 shares of the company's stock traded hands, compared to its average volume of 685,894. The company has a debt-to-equity ratio of 1.21, a quick ratio of 2.80 and a current ratio of 3.68. The company has a market cap of $18.68 billion, a PE ratio of 45.87, a price-to-earnings-growth ratio of 3.62 and a beta of 1.29. The stock has a 50 day moving average of $272.21 and a 200-day moving average of $256.19. Insulet has a 12 month low of $160.19 and a 12 month high of $289.46.

Insulet (NASDAQ:PODD - Get Free Report) last announced its earnings results on Thursday, February 20th. The medical instruments supplier reported $1.15 EPS for the quarter, beating analysts' consensus estimates of $1.00 by $0.15. The company had revenue of $597.50 million during the quarter, compared to the consensus estimate of $582.02 million. Insulet had a return on equity of 24.46% and a net margin of 20.19%. As a group, equities analysts expect that Insulet will post 3.92 EPS for the current fiscal year.

Insulet Company Profile

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.