Insulet (NASDAQ:PODD) Shares Down 8.9% - Here's What Happened

Key Points

• Insulet shares fell 8.9% intraday to $166.62 from a prior close of $182.87 on Wednesday, with 839,014 shares trading—slightly below the average session volume.
• Several analysts have trimmed price targets (e.g., Oppenheimer $365→$300, Sanford Bernstein $380→$330) and TD Cowen cut to a Hold, yet the consensus remains a Moderate Buy with an average target of $327.24.
• Insulet beat quarterly expectations (EPS $1.55 vs. $1.48; revenue $783.8M vs. $768.3M), reporting revenue up 31.2% year-over-year, and director Michael R. Minogue purchased 2,030 shares at $246.23, with insiders owning 0.36%.

Insulet Corporation (NASDAQ:PODD - Get Free Report) shares traded down 8.9% on Wednesday . The company traded as low as $167.00 and last traded at $166.6170. 839,014 shares were traded during mid-day trading, a decline of 13% from the average session volume of 969,845 shares. The stock had previously closed at $182.87.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the stock. Oppenheimer lowered their price objective on shares of Insulet from $365.00 to $300.00 and set an "outperform" rating for the company in a research note on Thursday, February 19th. TD Cowen cut Insulet from a "buy" rating to a "hold" rating and set a $294.00 target price on the stock. in a report on Monday, January 26th. Zacks Research downgraded Insulet from a "strong-buy" rating to a "hold" rating in a research report on Monday, January 5th. Sanford C. Bernstein dropped their price target on Insulet from $380.00 to $330.00 and set an "outperform" rating for the company in a research note on Thursday, February 19th. Finally, Stifel Nicolaus cut their price objective on Insulet from $370.00 to $350.00 and set a "buy" rating on the stock in a report on Wednesday, February 4th. Eighteen investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $327.24.

Insulet Stock Performance

The company has a current ratio of 2.81, a quick ratio of 2.15 and a debt-to-equity ratio of 0.61. The firm has a market cap of $11.13 billion, a PE ratio of 45.74, a P/E/G ratio of 1.13 and a beta of 1.47. The stock's 50 day moving average price is $219.87 and its 200 day moving average price is $269.26.

Insulet (NASDAQ:PODD - Get Free Report) last announced its quarterly earnings results on Wednesday, February 18th. The medical instruments supplier reported $1.55 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.48 by $0.07. The firm had revenue of $783.80 million during the quarter, compared to the consensus estimate of $768.31 million. Insulet had a return on equity of 24.90% and a net margin of 9.12%.The firm's quarterly revenue was up 31.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.15 EPS. As a group, equities analysts forecast that Insulet Corporation will post 6.16 earnings per share for the current fiscal year.

Insider Activity at Insulet

In related news, Director Michael R. Minogue bought 2,030 shares of the company's stock in a transaction that occurred on Wednesday, February 25th. The shares were acquired at an average cost of $246.23 per share, for a total transaction of $499,846.90. Following the acquisition, the director owned 17,483 shares in the company, valued at $4,304,839.09. This represents a 13.14% increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 0.36% of the company's stock.

Institutional Trading of Insulet

A number of hedge funds have recently made changes to their positions in PODD. Stephens Investment Management Group LLC boosted its stake in shares of Insulet by 26.0% in the first quarter. Stephens Investment Management Group LLC now owns 177,707 shares of the medical instruments supplier's stock valued at $37,290,000 after purchasing an additional 36,655 shares during the period. Praxis Investment Management Inc. increased its stake in Insulet by 43.6% during the 1st quarter. Praxis Investment Management Inc. now owns 1,278 shares of the medical instruments supplier's stock worth $268,000 after buying an additional 388 shares during the period. V Square Quantitative Management LLC increased its stake in Insulet by 12.8% during the 1st quarter. V Square Quantitative Management LLC now owns 2,306 shares of the medical instruments supplier's stock worth $484,000 after buying an additional 262 shares during the period. HB Wealth Management LLC lifted its holdings in Insulet by 36.7% in the 1st quarter. HB Wealth Management LLC now owns 3,221 shares of the medical instruments supplier's stock worth $676,000 after buying an additional 864 shares in the last quarter. Finally, Optas LLC boosted its position in Insulet by 8.8% in the 1st quarter. Optas LLC now owns 1,059 shares of the medical instruments supplier's stock valued at $222,000 after buying an additional 86 shares during the last quarter.

About Insulet

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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