Mitra Capital buys $6,506,236 stake in Insulet Corporation (PODD)

Insulet Corporation (PODD) : Mitra Capital scooped up 97,629 additional shares in Insulet Corporation during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Aug 12, 2016. The investment management firm now holds a total of 151,343 shares of Insulet Corporation which is valued at $6,506,236.Insulet Corporation makes up approximately 10.20% of Mitra Capital’s portfolio.

Other Hedge Funds, Including , Menta Capital boosted its stake in PODD in the latest quarter, The investment management firm added 47,922 additional shares and now holds a total of 56,022 shares of Insulet Corporation which is valued at $2,408,386. Insulet Corporation makes up approx 0.31% of Menta Capital’s portfolio.Rhumbline Advisers boosted its stake in PODD in the latest quarter, The investment management firm added 2,243 additional shares and now holds a total of 73,685 shares of Insulet Corporation which is valued at $3,167,718. Insulet Corporation makes up approx 0.01% of Rhumbline Advisers’s portfolio.Segall Bryant Hamill reduced its stake in PODD by selling 28,735 shares or 10.03% in the most recent quarter. The Hedge Fund company now holds 257,731 shares of PODD which is valued at $11,079,856. Insulet Corporation makes up approx 0.28% of Segall Bryant Hamill’s portfolio.State Board Of Administration Of Florida Retirement System reduced its stake in PODD by selling 1,277 shares or 2.84% in the most recent quarter. The Hedge Fund company now holds 43,734 shares of PODD which is valued at $1,887,559. Insulet Corporation makes up approx 0.01% of State Board Of Administration Of Florida Retirement System’s portfolio.

Insulet Corporation opened for trading at $41.84 and hit $42.91 on the upside on Monday, eventually ending the session at $42.64, with a gain of 1.67% or 0.7 points. The heightened volatility saw the trading volume jump to 2,73,482 shares. Company has a market cap of $2,442 M.

On the company’s financial health, Insulet Corporation reported $-0.08 EPS for the quarter, beating the analyst consensus estimate by $ 0.09 according to the earnings call on Aug 3, 2016. Analyst had a consensus of $-0.17. The company had revenue of $87.33 million for the quarter, compared to analysts expectations of $83.00 million. The company’s revenue was up 44.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $-0.30 EPS.

Many Wall Street Analysts have commented on Insulet Corporation. Company shares were Reiterated by Wedbush on Aug 4, 2016 to “Outperform”, Firm has raised the Price Target to $ 48 from a previous price target of $44 .

Insulet Corporation is a medical device company engaged in the development manufacturing and sale of the OmniPod Insulin Management System (the OmniPod System) an insulin infusion system for people with insulin-dependent diabetes. The Company’s principal offices are located in Billerica Massachusetts. Features of the OmniPod System include two-part design no tubing and automated cannula insertion. The OmniPod System consists of two devices that communicate wirelessly: the OmniPod a small lightweight disposable insulin infusion device worn beneath clothing; and the PDM a handheld device much like a personal digital assistant that wirelessly programs the OmniPod with insulin delivery instructions. The OmniPod will operate up to 72 hours (but no more than 80 hours) after it is first activated. The OmniPod System does not have external tubing and features an automated hands-free cannula insertion system.

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