Insulet Corp (NASDAQ:PODD) Diversification or a Strong Focus?

[Zacks] Insulet Corp (NASDAQ:PODD)(TREND ANALYSIS) One such stock that you may want to consider dropping is Insulet Corporation (PODD), which has witnessed a significant price decline in the past four weeks, and it has seen negative earnings estimate revisions for the current quarter and the current year. A Zacks Rank #4 (Sell) further confirms weakness in PODD.

A key reason for this move has been the negative trend in earnings estimate revisions. For the full year, we have seen 12 estimates moving down in the past 30 days, compared with no upward revisions. This trend has caused the consensus estimate to trend lower, going from a loss of 40 cents a share a month ago to its current level of a loss of 99 cents.

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Insulet Corp (NASDAQ:PODD) stock is currently trading 43.05% below its 52-week-high, 9.5% above its 52-week-low. The 1-year stock price history is in the range of $24.95 – $47.97. Insulet Corp (PODD) has a price to book ratio of 23.31. PODD stock price has underperformed the Nasdaq by 40.6%. The Patient Monitoring Equipment company is currently valued at $1.55 billion and its share price closed the last trading session at $27.32. The stock has a 50-day moving average of $29.79 and a 200-day moving average of $30.45.

Insulet Corp (PODD) current short interest stands at 5.06 million shares. It has increased by 10% from the same period of last month. Around 9% of the company’s shares, which are float, are short sold. With a 10-days average volume of 0.41 million shares, the number of days required to cover the short positions stand at 12.5 days.

The company is expected to announce next quarter earnings on November 04, at consensus estimate of $-0.26. Insulet Corp (PODD) reported last quarter earnings on August 12. The Patient Monitoring Equipment company announced earnings per share of $-0.27 against a consensus Street estimate of $-0.12, missing estimate by $0.15. This corresponds to a decrease of $0.06 compared to the same quarter of the previous fiscal year.

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There are currently eighteen analysts that cover Insulet Corp stock. Of those eighteen, seven have a Buy rating, eleven have a Hold rating. On a consensus basis this yields to an Overweight rating. The consensus target price stands at $35.14.

A recent analyst activity consisted of Benchmark downgrading their Buy rating to Hold on August 13. On the date of report, the stock closed at $31.18.

Piper Jaffray reiterated their Overweight stance on the same day, and increased their price target on PODD stock from $36 to $41. This corresponds to a 50.07% upside from the last closing price. On the date of report, the stock closed at $31.18.

Another research firm was JP Morgan who reiterated their Neutral stance on July 28. JP Morgan increased their price target on Insulet Corp from $26 to $30. This translates to a 9.81% upside from the last closing price. On the date of report, the stock closed at $30.62.

Company profile

Insulet Corporation is a medical device company that develops, manufactures and markets an insulin infusion system for people with insulin-dependent diabetes.

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