Insulet Corp. (PODD) Position Increased by Brown Advisory Inc.
Brown Advisory Inc. boosted its position in shares of Insulet Corp. (NASDAQ:PODD) by 14.2% during the second quarter, Holdings Channel reports. The institutional investor owned 11,613 shares of the company’s stock after buying an additional 1,442 shares during the period. Brown Advisory Inc.’s holdings in Insulet Corp. were worth $351,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently added to or reduced their stakes in the stock. Daruma Capital Management LLC increased its stake in Insulet Corp. by 12.7% in the first quarter. Daruma Capital Management LLC now owns 1,483,179 shares of the company’s stock worth $49,182,000 after buying an additional 166,639 shares in the last quarter. Arrowgrass Capital Partners US LP purchased a new stake in Insulet Corp. during the first quarter worth $5,565,000. BlackRock Institutional Trust Company N.A. increased its stake in Insulet Corp. by 0.3% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 1,410,215 shares of the company’s stock worth $46,763,000 after buying an additional 4,077 shares in the last quarter. HAP Trading LLC purchased a new stake in Insulet Corp. during the second quarter worth $367,000. Finally, Mitra Capital LLC purchased a new stake in Insulet Corp. during the first quarter worth $1,781,000.
Shares of Insulet Corp. (NASDAQ:PODD) traded down 0.160% during midday trading on Tuesday, hitting $40.655. The stock had a trading volume of 38,217 shares. The stock’s market cap is $2.33 billion. Insulet Corp. has a 12 month low of $23.94 and a 12 month high of $45.60. The stock’s 50-day moving average is $42.80 and its 200-day moving average is $35.14.
Insulet Corp. (NASDAQ:PODD) last posted its earnings results on Wednesday, August 3rd. The company reported ($0.08) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.17) by $0.09. Insulet Corp. had a negative return on equity of 137.88% and a negative net margin of 17.68%. The firm had revenue of $87.30 million for the quarter, compared to analysts’ expectations of $81.10 million. During the same period in the previous year, the firm earned ($0.30) earnings per share. The business’s revenue was up 44.2% compared to the same quarter last year. Equities analysts anticipate that Insulet Corp. will post ($0.44) EPS for the current year.
A number of equities analysts have issued reports on PODD shares. Zacks Investment Research upgraded Insulet Corp. from a “hold” rating to a “buy” rating and set a $35.00 price target on the stock in a report on Tuesday, July 5th. Canaccord Genuity restated a “hold” rating and set a $36.00 price target on shares of Insulet Corp. in a report on Friday, August 5th. Wedbush restated an “outperform” rating and set a $44.00 price target on shares of Insulet Corp. in a report on Wednesday, July 20th. Piper Jaffray Cos. restated an “overweight” rating and set a $41.00 price target on shares of Insulet Corp. in a report on Wednesday, July 20th. Finally, Jefferies Group increased their price target on Insulet Corp. from $41.00 to $45.00 and gave the stock a “buy” rating in a report on Thursday, August 4th. Eight research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. The company currently has an average rating of “Buy” and a consensus price target of $41.50.
About Insulet Corp.
Insulet Corporation is engaged in the development, manufacturing and sale of the OmniPod Insulin Management System (the OmniPod System), an insulin delivery system for people with insulin-dependent diabetes. The OmniPod System consists of the OmniPod, a small, self-adhesive disposable tubeless OmniPod device, which is worn on the body for approximately three days at a time and its wireless handheld Personal Diabetes Manager (PDM).
Want to see what other hedge funds are holding PODD? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Insulet Corp. (NASDAQ:PODD).
Receive News & Ratings for Insulet Corp. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Insulet Corp. and related companies with MarketBeat.com's FREE daily email newsletter.