Daruma Capital Management buys $63,761,865 stake in Insulet Corporation (PODD)

Insulet Corporation (PODD) : Daruma Capital Management scooped up 166,639 additional shares in Insulet Corporation during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Aug 15, 2016. The investment management firm now holds a total of 1,483,179 shares of Insulet Corporation which is valued at $63,761,865.Insulet Corporation makes up approximately 3.78% of Daruma Capital Management’s portfolio.

Other Hedge Funds, Including , Two Sigma Advisers Lp boosted its stake in PODD in the latest quarter, The investment management firm added 205,400 additional shares and now holds a total of 215,369 shares of Insulet Corporation which is valued at $9,258,713. Insulet Corporation makes up approx 0.04% of Two Sigma Advisers Lp’s portfolio.Primecap Management Coca reduced its stake in PODD by selling 4,897 shares or 0.09% in the most recent quarter. The Hedge Fund company now holds 5,189,472 shares of PODD which is valued at $223,095,401. Insulet Corporation makes up approx 0.22% of Primecap Management Coca’s portfolio. Ashburton (jersey) Ltd sold out all of its stake in PODD during the most recent quarter. The investment firm sold 42,050 shares of PODD which is valued $1,488,150.Essex Investment Management Co reduced its stake in PODD by selling 228 shares or 0.59% in the most recent quarter. The Hedge Fund company now holds 38,165 shares of PODD which is valued at $1,333,103. Insulet Corporation makes up approx 0.21% of Essex Investment Management Co’s portfolio.

Insulet Corporation opened for trading at $42.43 and hit $42.56 on the upside on Thursday, eventually ending the session at $42.46, with a gain of 0.31% or 0.13 points. The heightened volatility saw the trading volume jump to 1,43,564 shares. Company has a market cap of $2,432 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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