Insulet (NASDAQ:PODD) Sets New 12-Month Low – Here’s What Happened

Shares of Insulet Corporation (NASDAQ:PODD) reached a new 52-week low during trading on Tuesday . The company traded as low as $186.20 and last traded at $186.03, with a volume of 153325 shares traded. The stock had previously closed at $188.31.

Analyst Upgrades and Downgrades

PODD has been the subject of a number of recent analyst reports. Zacks Research cut shares of Insulet from a “strong-buy” rating to a “hold” rating in a research note on Monday, January 5th. JPMorgan Chase & Co. lowered their target price on shares of Insulet from $415.00 to $340.00 and set an “overweight” rating for the company in a research note on Thursday, February 19th. Royal Bank Of Canada reiterated an “outperform” rating and issued a $325.00 target price on shares of Insulet in a research note on Tuesday, April 14th. The Goldman Sachs Group lowered their target price on shares of Insulet from $326.00 to $277.00 and set a “buy” rating for the company in a research note on Wednesday, April 8th. Finally, Evercore lowered their target price on shares of Insulet from $340.00 to $240.00 and set an “outperform” rating for the company in a research note on Monday, April 6th. Eighteen research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $327.24.

Insulet Stock Performance

The company has a debt-to-equity ratio of 0.61, a quick ratio of 2.15 and a current ratio of 2.81. The firm’s 50 day simple moving average is $216.37 and its 200 day simple moving average is $267.83. The firm has a market capitalization of $11.92 billion, a price-to-earnings ratio of 49.18, a PEG ratio of 0.96 and a beta of 1.47.

Insulet (NASDAQ:PODD) last announced its quarterly earnings data on Wednesday, February 18th. The medical instruments supplier reported $1.55 EPS for the quarter, beating the consensus estimate of $1.48 by $0.07. Insulet had a net margin of 9.12% and a return on equity of 24.90%. The business had revenue of $783.80 million during the quarter, compared to analysts’ expectations of $768.31 million. During the same period in the previous year, the business posted $1.15 EPS. The business’s quarterly revenue was up 31.2% compared to the same quarter last year. Sell-side analysts forecast that Insulet Corporation will post 6.16 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Insulet news, Director Michael R. Minogue acquired 2,030 shares of the firm’s stock in a transaction on Wednesday, February 25th. The stock was acquired at an average cost of $246.23 per share, for a total transaction of $499,846.90. Following the purchase, the director owned 17,483 shares in the company, valued at approximately $4,304,839.09. The trade was a 13.14% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.36% of the company’s stock.

Institutional Trading of Insulet

Several institutional investors and hedge funds have recently bought and sold shares of PODD. NewEdge Advisors LLC lifted its stake in Insulet by 44.8% during the 1st quarter. NewEdge Advisors LLC now owns 207 shares of the medical instruments supplier’s stock valued at $54,000 after acquiring an additional 64 shares during the period. Cresset Asset Management LLC lifted its stake in shares of Insulet by 7.3% in the 2nd quarter. Cresset Asset Management LLC now owns 2,587 shares of the medical instruments supplier’s stock valued at $813,000 after purchasing an additional 177 shares during the period. Cerity Partners LLC lifted its stake in shares of Insulet by 68.7% in the 2nd quarter. Cerity Partners LLC now owns 17,262 shares of the medical instruments supplier’s stock valued at $5,423,000 after purchasing an additional 7,030 shares during the period. Sei Investments Co. lifted its stake in shares of Insulet by 27.4% in the 2nd quarter. Sei Investments Co. now owns 137,643 shares of the medical instruments supplier’s stock valued at $43,245,000 after purchasing an additional 29,584 shares during the period. Finally, Treasurer of the State of North Carolina lifted its stake in shares of Insulet by 2.5% in the 2nd quarter. Treasurer of the State of North Carolina now owns 32,752 shares of the medical instruments supplier’s stock valued at $10,290,000 after purchasing an additional 791 shares during the period.

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.