Insulet Corporation (NASDAQ:PODD) Sees Large Increase in Short Interest

Insulet Corporation (NASDAQ:PODD) was the target of a large increase in short interest in February. As of February 27th, there was short interest totaling 2,817,783 shares, an increase of 86.4% from the February 12th total of 1,511,612 shares. Based on an average trading volume of 1,172,256 shares, the short-interest ratio is currently 2.4 days. Approximately 4.0% of the shares of the stock are short sold. Approximately 4.0% of the shares of the stock are short sold. Based on an average trading volume of 1,172,256 shares, the short-interest ratio is currently 2.4 days.

Insider Buying and Selling

In related news, Director Michael R. Minogue purchased 2,030 shares of the firm’s stock in a transaction that occurred on Wednesday, February 25th. The shares were acquired at an average price of $246.23 per share, with a total value of $499,846.90. Following the purchase, the director directly owned 17,483 shares in the company, valued at $4,304,839.09. This represents a 13.14% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.39% of the stock is currently owned by corporate insiders.

Institutional Trading of Insulet

Institutional investors have recently bought and sold shares of the business. Winnow Wealth LLC bought a new stake in shares of Insulet in the 3rd quarter valued at about $862,000. Illinois Municipal Retirement Fund raised its position in shares of Insulet by 41.3% in the 2nd quarter. Illinois Municipal Retirement Fund now owns 12,030 shares of the medical instruments supplier’s stock valued at $3,780,000 after acquiring an additional 3,514 shares during the period. Machina Capital S.A.S. bought a new position in Insulet during the 3rd quarter worth approximately $2,778,000. ING Groep NV boosted its stake in Insulet by 88.5% during the 3rd quarter. ING Groep NV now owns 17,300 shares of the medical instruments supplier’s stock worth $5,341,000 after acquiring an additional 8,123 shares during the last quarter. Finally, Fisher Asset Management LLC grew its holdings 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 purchasing an additional 12,754 shares during the period.

More Insulet News

Here are the key news stories impacting Insulet this week:

• Positive Sentiment: Study results support long?term product thesis: new study outcomes backing a fully closed?loop insulin pump for type 2 diabetes could reinforce Insulet’s growth runway if commercial adoption follows. Study Outcomes
• Neutral Sentiment: Company says affected supply is limited and replacement capacity exists — Insulet initiated a voluntary medical device correction and communicated it publicly, and management stated they expect to replace impacted Pods without disrupting overall availability. Investors should watch follow?up disclosures for replacement costs and execution risk. Company Correction
• Negative Sentiment: Recall / Medical device correction highlights manufacturing defect — Regulators and media report specific U.S. lots of Omnipod 5 Pods were recalled/subject to correction because of potential tubing tears that could under?deliver insulin, increasing short?term revenue and reputation risk. Reuters Recall
• Negative Sentiment: Safety reports and potential patient harm amplified selling — Insulet disclosed multiple serious adverse event reports (including hospitalizations and DKA tied to under?delivery) which raises regulatory/legal exposure and hurts investor confidence. Seeking Alpha Recall
• Negative Sentiment: Multiple securities?fraud investigations and law?firm notices have been announced — several firms are soliciting claimants alleging the company may have misled investors about the issue, creating potential litigation risk and additional headline pressure. Fraud Investigation
• Negative Sentiment: Market coverage and technicals: the headlines drove the stock to a 52?week low and broader market writeups (MSN/Benzinga) are amplifying downward momentum. Expect short?term analyst and sentiment reactions until clarity on scope, costs and regulatory response. 52?Week Low

Insulet Stock Performance

Shares of NASDAQ:PODD opened at $219.84 on Friday. The company has a current ratio of 2.81, a quick ratio of 2.15 and a debt-to-equity ratio of 0.61. Insulet has a 1-year low of $216.49 and a 1-year high of $354.88. The stock has a market capitalization of $15.48 billion, a P/E ratio of 62.81, a P/E/G ratio of 1.31 and a beta of 1.42. The business has a 50-day moving average price of $258.47 and a two-hundred day moving average price of $297.07.

Insulet (NASDAQ:PODD) last issued its 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 company had revenue of $783.80 million for the quarter, compared to analyst estimates of $768.31 million. Insulet had a net margin of 9.12% and a return on equity of 24.90%. The company’s revenue for the quarter was up 31.2% on a year-over-year basis. During the same quarter last year, the firm earned $1.15 EPS. Equities analysts predict that Insulet will post 3.92 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the stock. Zacks Research cut shares of Insulet from a “strong-buy” rating to a “hold” rating in a research note on Monday, January 5th. Raymond James Financial dropped their target price on shares of Insulet from $385.00 to $355.00 and set an “outperform” rating for the company in a research note on Thursday, February 19th. TD Cowen lowered shares of Insulet from a “buy” rating to a “hold” rating and set a $294.00 target price on the stock. in a research report on Monday, January 26th. Barclays reissued an “underweight” rating and issued a $286.00 price target on shares of Insulet in a report on Thursday, February 19th. Finally, Evercore set a $340.00 price objective on shares of Insulet in a research report on Thursday, February 19th. Twenty analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $354.24.

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.