Insulet (NASDAQ:PODD) Sets New 1-Year Low - Here's Why

Key Points

• Insulet hit a new 52-week low of $193.05 (last trade ~$193.53) and was trading down about 2.9% on ~200,660 shares, with the 50- and 200-day moving averages at $226.61 and $274.51 respectively.
• Analysts have trimmed price targets but remain largely positive—19 Buys, 4 Holds and 1 Sell—leaving a consensus rating of Moderate Buy and a consensus target price of $334.38.
• Insulet posted a Q1 earnings beat (EPS $1.55 vs. $1.48 expected) and revenue of $783.8M (up 31.2% YoY), and a director bought 2,030 shares at about $246, signaling insider confidence.

Insulet Corporation (NASDAQ:PODD - Get Free Report) hit a new 52-week low on Tuesday . The company traded as low as $193.05 and last traded at $193.5290, with a volume of 200660 shares changing hands. The stock had previously closed at $200.87.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. Canaccord Genuity Group reduced their price target on Insulet from $450.00 to $435.00 and set a "buy" rating on the stock in a research report on Wednesday, February 18th. Zacks Research lowered Insulet from a "strong-buy" rating to a "hold" rating in a research report on Monday, January 5th. Oppenheimer reduced their price target on Insulet from $365.00 to $300.00 and set an "outperform" rating on the stock in a research report on Thursday, February 19th. Weiss Ratings restated a "hold (c)" rating on shares of Insulet in a research report on Thursday, January 22nd. Finally, The Goldman Sachs Group reduced their price target on Insulet from $326.00 to $277.00 and set a "buy" rating on the stock in a research report on Wednesday, April 8th. Nineteen research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $334.38.

Insulet Trading Down 2.9%

The stock has a market capitalization of $13.50 billion, a P/E ratio of 55.68, a price-to-earnings-growth ratio of 1.22 and a beta of 1.47. The stock has a 50-day moving average price of $226.61 and a two-hundred day moving average price of $274.51. The company has a debt-to-equity ratio of 0.61, a quick ratio of 2.15 and a current ratio of 2.81.

Insulet (NASDAQ:PODD - Get Free Report) last issued its quarterly earnings data on Wednesday, February 18th. The medical instruments supplier reported $1.55 earnings per share for the quarter, topping analysts' consensus estimates of $1.48 by $0.07. The firm had revenue of $783.80 million for the quarter, compared to analyst estimates of $768.31 million. Insulet had a return on equity of 24.90% and a net margin of 9.12%.The business's quarterly revenue was up 31.2% compared to the same quarter last year. During the same period last year, the company earned $1.15 EPS. On average, research analysts forecast that Insulet Corporation will post 6.16 EPS for the current fiscal year.

Insider Buying and Selling at Insulet

In other news, Director Michael R. Minogue purchased 2,030 shares of the company's stock in a transaction that occurred on Wednesday, February 25th. The shares were bought at an average cost of $246.23 per share, for a total transaction of $499,846.90. Following the completion of the transaction, the director directly owned 17,483 shares of the company's stock, valued at $4,304,839.09. This trade represents a 13.14% increase in their position. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.39% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Insulet

Hedge funds have recently made changes to their positions in the company. Winnow Wealth LLC purchased a new position in Insulet during the third quarter valued at $862,000. Nordea Investment Management AB raised its stake in Insulet by 35.0% during the fourth quarter. Nordea Investment Management AB now owns 551,133 shares of the medical instruments supplier's stock valued at $157,128,000 after buying an additional 142,922 shares during the last quarter. Machina Capital S.A.S. purchased a new position in Insulet during the third quarter valued at $2,778,000. Jain Global LLC raised its stake in Insulet by 148.2% during the third quarter. Jain Global LLC now owns 106,710 shares of the medical instruments supplier's stock valued at $32,945,000 after buying an additional 63,719 shares during the last quarter. Finally, Fisher Asset Management LLC raised its stake in Insulet by 38.1% during the third quarter. Fisher Asset Management LLC now owns 46,273 shares of the medical instruments supplier's stock valued at $14,286,000 after buying an additional 12,754 shares during the last quarter.

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.

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