Insulet (NASDAQ:PODD) Shares Down 5.1%

Shares of Insulet Co. (NASDAQ:PODD) were down 5.1% on Tuesday . The company traded as low as $184.45 and last traded at $185.99. Approximately 114,970 shares changed hands during trading, a decline of 86% from the average daily volume of 832,163 shares. The stock had previously closed at $195.92.

Analyst Ratings Changes

A number of brokerages have recently weighed in on PODD. UBS Group boosted their price target on Insulet from $211.00 to $223.00 and gave the stock a “neutral” rating in a research note on Friday, August 9th. Canaccord Genuity Group reissued a “buy” rating and issued a $234.00 price target on shares of Insulet in a report on Tuesday, July 23rd. Barclays upped their target price on Insulet from $200.00 to $220.00 and gave the stock an “equal weight” rating in a research note on Monday, August 12th. Redburn Atlantic began coverage on Insulet in a research report on Thursday, May 30th. They set a “buy” rating and a $235.00 price target for the company. Finally, Wolfe Research upgraded Insulet from a “peer perform” rating to an “outperform” rating and set a $200.00 price target for the company in a research report on Tuesday, May 7th. Four analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat.com, Insulet presently has an average rating of “Moderate Buy” and a consensus target price of $232.13.

Insulet Stock Down 7.3 %

The firm has a 50 day simple moving average of $196.90 and a two-hundred day simple moving average of $183.69. The company has a market capitalization of $12.74 billion, a PE ratio of 56.36, a P/E/G ratio of 3.58 and a beta of 1.16. The company has a current ratio of 3.60, a quick ratio of 2.71 and a debt-to-equity ratio of 1.36.

Insulet (NASDAQ:PODD) last announced its earnings results on Thursday, August 8th. The medical instruments supplier reported $0.55 earnings per share for the quarter, missing the consensus estimate of $0.56 by ($0.01). Insulet had a net margin of 21.11% and a return on equity of 30.73%. The company had revenue of $488.50 million during the quarter, compared to analysts’ expectations of $488.00 million. During the same quarter last year, the business posted $0.38 earnings per share. The company’s revenue for the quarter was up 23.2% compared to the same quarter last year. Research analysts expect that Insulet Co. will post 3.04 EPS for the current year.

Insider Activity

In other news, Director Timothy J. Scannell sold 7,000 shares of the firm’s stock in a transaction that occurred on Monday, June 10th. The stock was sold at an average price of $190.51, for a total value of $1,333,570.00. Following the completion of the sale, the director now directly owns 35,586 shares of the company’s stock, valued at approximately $6,779,488.86. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other Insulet news, Director Timothy J. Scannell sold 7,000 shares of the firm’s stock in a transaction on Monday, June 10th. The stock was sold at an average price of $190.51, for a total transaction of $1,333,570.00. Following the completion of the transaction, the director now owns 35,586 shares of the company’s stock, valued at $6,779,488.86. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Timothy J. Scannell sold 3,300 shares of the firm’s stock in a transaction on Tuesday, May 28th. The stock was sold at an average price of $180.90, for a total value of $596,970.00. Following the transaction, the director now directly owns 42,586 shares of the company’s stock, valued at approximately $7,703,807.40. The disclosure for this sale can be found here. Insiders sold 13,931 shares of company stock valued at $2,636,286 in the last three months. 0.47% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Insulet

A number of institutional investors have recently added to or reduced their stakes in the company. Capital Research Global Investors lifted its stake in shares of Insulet by 19.7% during the fourth quarter. Capital Research Global Investors now owns 9,476,623 shares of the medical instruments supplier’s stock worth $2,056,255,000 after purchasing an additional 1,556,455 shares in the last quarter. Vanguard Group Inc. lifted its stake in shares of Insulet by 2.1% in the first quarter. Vanguard Group Inc. now owns 8,199,114 shares of the medical instruments supplier’s stock worth $1,405,328,000 after acquiring an additional 169,506 shares in the last quarter. Baillie Gifford & Co. lifted its stake in shares of Insulet by 30.8% in the second quarter. Baillie Gifford & Co. now owns 1,886,062 shares of the medical instruments supplier’s stock worth $380,607,000 after acquiring an additional 443,783 shares in the last quarter. Norges Bank acquired a new stake in Insulet during the fourth quarter valued at approximately $227,655,000. Finally, William Blair Investment Management LLC raised its stake in Insulet by 3.7% during the first quarter. William Blair Investment Management LLC now owns 952,268 shares of the medical instruments supplier’s stock valued at $163,219,000 after buying an additional 33,579 shares in the last quarter.

About Insulet

Insulet Corporation develops, manufactures, and sells insulin delivery systems for people with insulin-dependent diabetes. The company's Omnipod platform includes the Omnipod 5 Automated Insulin Delivery System (Omnipod 5) which includes a proprietary AID algorithm embedded in the Pod that integrates with a third-party continuous glucose monitor to obtain glucose values through wireless bluetooth communication; Omnipod DASH that features a bluetooth enabled Pod that is controlled by a smartphone-like Personal Diabetes Manager with a color touch screen user interface; and Omnipod GO, a standalone, wearable, insulin delivery system that provides a fixed rate of continuous rapid-acting insulin for 72 hours.