Insulet Corp. (NASDAQ:PODD) was the target of a significant growth in short interest during the month of November. As of November 15th, there was short interest totalling 5,717,588 shares, a growth of 45.6% from the October 31st total of 3,926,471 shares. Based on an average daily volume of 1,402,719 shares, the days-to-cover ratio is currently 4.1 days. Currently, 10.1% of the shares of the stock are short sold.
Several research firms have recently commented on PODD. Canaccord Genuity set a $39.00 price target on shares of Insulet Corp. and gave the company a “hold” rating in a research report on Sunday, November 6th. B. Riley initiated coverage on shares of Insulet Corp. in a research report on Monday, September 26th. They set a “neutral” rating and a $46.00 target price on the stock. JPMorgan Chase & Co. restated a “hold” rating and set a $38.00 target price on shares of Insulet Corp. in a research report on Friday, November 4th. Piper Jaffray Cos. restated an “overweight” rating and set a $46.00 target price (up previously from $41.00) on shares of Insulet Corp. in a research report on Thursday, August 4th. Finally, Jefferies Group raised their target price on shares of Insulet Corp. from $41.00 to $45.00 and gave the stock a “buy” rating in a research report on Thursday, August 4th. Seven equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $42.15.
Insulet Corp. (NASDAQ:PODD) opened at 36.45 on Friday. The stock’s market cap is $2.09 billion. The stock has a 50 day moving average of $37.35 and a 200-day moving average of $36.38. Insulet Corp. has a 52 week low of $23.94 and a 52 week high of $45.60.
Insulet Corp. (NASDAQ:PODD) last released its quarterly earnings results on Thursday, November 3rd. The company reported ($0.05) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.09) by $0.04. Insulet Corp. had a negative net margin of 12.95% and a negative return on equity of 87.46%. The business had revenue of $94.90 million for the quarter, compared to analyst estimates of $89.75 million. During the same quarter in the previous year, the business earned ($0.33) earnings per share. The firm’s revenue was up 32.5% compared to the same quarter last year. Analysts forecast that Insulet Corp. will post ($0.37) earnings per share for the current year.
Several large investors have recently added to or reduced their stakes in the stock. FMR LLC raised its stake in Insulet Corp. by 112.8% in the second quarter. FMR LLC now owns 6,025,467 shares of the company’s stock worth $182,210,000 after buying an additional 3,193,967 shares in the last quarter. D. E. Shaw & Co. Inc. raised its stake in Insulet Corp. by 53.7% in the third quarter. D. E. Shaw & Co. Inc. now owns 1,078,215 shares of the company’s stock worth $44,142,000 after buying an additional 376,531 shares in the last quarter. Columbus Circle Investors raised its stake in Insulet Corp. by 766.9% in the third quarter. Columbus Circle Investors now owns 312,798 shares of the company’s stock worth $12,806,000 after buying an additional 276,717 shares in the last quarter. Fiera Capital Corp purchased a new stake in Insulet Corp. during the second quarter worth about $5,973,000. Finally, Vanguard Group Inc. raised its stake in Insulet Corp. by 3.1% in the second quarter. Vanguard Group Inc. now owns 4,184,980 shares of the company’s stock worth $126,553,000 after buying an additional 124,551 shares in the last quarter.
About Insulet Corp.