Insulet (NASDAQ:PODD) Hits New 52-Week Low – Here’s What Happened

Insulet Corporation (NASDAQ:PODD) reached a new 52-week low during trading on Wednesday . The stock traded as low as $216.05 and last traded at $216.1160, with a volume of 585871 shares. The stock had previously closed at $225.50.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on PODD shares. Raymond James Financial reduced their price objective on shares of Insulet from $385.00 to $355.00 and set an “outperform” rating on the stock in a report on Thursday, February 19th. 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. Canaccord Genuity Group cut their price target on Insulet from $450.00 to $435.00 and set a “buy” rating on the stock in a research note on Wednesday, February 18th. The Goldman Sachs Group decreased their price target on Insulet from $363.00 to $326.00 and set a “buy” rating for the company in a report on Thursday, February 19th. Finally, Barclays reaffirmed an “underweight” rating and set a $286.00 price objective on shares of Insulet in a research report on Thursday, February 19th. Twenty investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $354.24.

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’s fifty day moving average price is $250.03 and its 200-day moving average price is $291.12. The firm has a market cap of $15.21 billion, a price-to-earnings ratio of 61.71, a PEG ratio of 1.36 and a beta of 1.42.

Insulet (NASDAQ:PODD) last announced its quarterly earnings results on Wednesday, February 18th. The medical instruments supplier reported $1.55 EPS for the quarter, topping the consensus estimate 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 net margin of 9.12% and a return on equity of 24.90%. Insulet’s revenue for the quarter was up 31.2% compared to the same quarter last year. During the same period last year, the business earned $1.15 EPS. Analysts expect that Insulet Corporation will post 3.92 earnings per share for the current year.

Insider Activity

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

Institutional Investors Weigh In On Insulet

A number of institutional investors and hedge funds have recently added to or reduced their stakes in PODD. Larson Financial Group LLC increased its holdings in shares of Insulet by 114.6% in the 4th quarter. Larson Financial Group LLC now owns 88 shares of the medical instruments supplier’s stock valued at $25,000 after acquiring an additional 47 shares during the period. University of Texas Texas AM Investment Management Co. purchased a new stake in shares of Insulet in the fourth quarter valued at about $26,000. Elyxium Wealth LLC acquired a new stake in shares of Insulet during the fourth quarter worth about $28,000. DV Equities LLC acquired a new stake in shares of Insulet during the fourth quarter worth about $28,000. Finally, MV Capital Management Inc. purchased a new position in shares of Insulet during the fourth quarter worth about $29,000.

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.