Insulet Co. (NASDAQ:PODD) Short Interest Update

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

Analysts Set New Price Targets

PODD has been the topic of several analyst reports. Canaccord Genuity Group increased their target price on Insulet from $304.00 to $324.00 and gave the stock a "buy" rating in a report on Friday, February 21st. Stifel Nicolaus raised their target price on shares of Insulet from $245.00 to $293.00 and gave the company a "hold" rating in a report on Friday, February 21st. StockNews.com lowered shares of Insulet from a "buy" rating to a "hold" rating in a research report on Tuesday, March 4th. Citigroup boosted their price target on Insulet from $310.00 to $355.00 and gave the stock a "buy" rating in a report on Friday, February 21st. Finally, TD Cowen increased their price objective on shares of Insulet from $264.00 to $324.00 and gave the company a "buy" rating in a research note on Friday, January 3rd. Four analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company's stock. According to data from MarketBeat, Insulet has an average rating of "Moderate Buy" and a consensus price target of $292.06.

Insider Transactions at Insulet

In other news, Director Wayne A.I. Frederick sold 1,825 shares of the firm's stock in a transaction that occurred on Tuesday, March 25th. The shares were sold at an average price of $275.00, for a total transaction of $501,875.00. Following the transaction, the director now directly owns 3,231 shares of the company's stock, valued at approximately $888,525. This trade represents a 36.10 % 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 this hyperlink. Corporate insiders own 0.47% of the company's stock.

Institutional Trading of Insulet

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Amalgamated Bank grew its stake in Insulet by 2.5% in the first quarter. Amalgamated Bank now owns 14,909 shares of the medical instruments supplier's stock valued at $3,915,000 after acquiring an additional 361 shares during the period. Sovran Advisors LLC bought a new position in shares of Insulet in the 1st quarter worth $240,000. Allspring Global Investments Holdings LLC grew its position in Insulet by 55.5% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 5,229 shares of the medical instruments supplier's stock valued at $1,376,000 after purchasing an additional 1,867 shares during the period. Achmea Investment Management B.V. grew its position in Insulet by 36.5% in the 1st quarter. Achmea Investment Management B.V. now owns 6,757 shares of the medical instruments supplier's stock valued at $1,775,000 after purchasing an additional 1,808 shares during the period. Finally, Diversified Trust Co increased its stake in Insulet by 144.1% during the 1st quarter. Diversified Trust Co now owns 3,622 shares of the medical instruments supplier's stock valued at $951,000 after purchasing an additional 2,138 shares in the last quarter.

Insulet Trading Up 0.2 %

NASDAQ PODD traded up $0.52 during trading hours on Friday, hitting $259.90. 119,138 shares of the company's stock were exchanged, compared to its average volume of 712,748. The firm has a market cap of $18.25 billion, a price-to-earnings ratio of 44.87, a PEG ratio of 3.62 and a beta of 1.30. The stock has a 50-day simple moving average of $260.61 and a 200 day simple moving average of $261.27. The company has a current ratio of 3.68, a quick ratio of 2.80 and a debt-to-equity ratio of 1.21. Insulet has a 1-year low of $160.19 and a 1-year high of $289.46.

Insulet (NASDAQ:PODD - Get Free Report) last announced its quarterly earnings data on Thursday, February 20th. The medical instruments supplier reported $1.15 EPS for the quarter, topping the consensus estimate 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 net margin of 20.19% and a return on equity of 24.46%. On average, equities analysts forecast 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.