Insulet Corporation (PODD) Position Boosted by Frontier Capital Management Co. LLC
Frontier Capital Management Co. LLC raised its position in shares of Insulet Corporation (NASDAQ:PODD) by 2.8% during the second quarter, according to its most recent filing with the SEC. The fund owned 1,809,473 shares of the medical instruments supplier’s stock after buying an additional 50,019 shares during the period. Frontier Capital Management Co. LLC owned about 3.12% of Insulet Corporation worth $92,844,000 at the end of the most recent reporting period.
Several other large investors have also added to or reduced their stakes in PODD. BNP Paribas Arbitrage SA boosted its stake in Insulet Corporation by 407.3% in the second quarter. BNP Paribas Arbitrage SA now owns 7,797 shares of the medical instruments supplier’s stock worth $400,000 after buying an additional 6,260 shares during the period. Legal & General Group Plc boosted its stake in Insulet Corporation by 1.9% in the second quarter. Legal & General Group Plc now owns 20,233 shares of the medical instruments supplier’s stock worth $1,034,000 after buying an additional 376 shares during the period. Bank of New York Mellon Corp boosted its stake in Insulet Corporation by 0.7% in the second quarter. Bank of New York Mellon Corp now owns 270,916 shares of the medical instruments supplier’s stock worth $13,901,000 after buying an additional 2,006 shares during the period. SG Americas Securities LLC acquired a new stake in Insulet Corporation during the second quarter worth $180,000. Finally, Wrapmanager Inc. acquired a new stake in Insulet Corporation during the second quarter worth $217,000.
Shares of Insulet Corporation (PODD) traded down 0.40% during midday trading on Friday, reaching $54.36. The company had a trading volume of 37,231 shares. The firm’s 50 day moving average price is $51.79 and its 200-day moving average price is $45.52. Insulet Corporation has a 12 month low of $30.69 and a 12 month high of $55.92. The company’s market capitalization is $3.16 billion.
Insulet Corporation (NASDAQ:PODD) last released its quarterly earnings results on Thursday, August 3rd. The medical instruments supplier reported ($0.13) EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of ($0.13). Insulet Corporation had a negative net margin of 7.30% and a negative return on equity of 46.74%. The business had revenue of $110 million for the quarter, compared to analysts’ expectations of $106.23 million. During the same period in the prior year, the firm earned ($0.08) earnings per share. Insulet Corporation’s revenue was up 26.0% compared to the same quarter last year. Analysts anticipate that Insulet Corporation will post ($0.50) earnings per share for the current fiscal year.
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A number of research firms have recently weighed in on PODD. Jefferies Group LLC reaffirmed a “buy” rating and set a $58.00 price target (up previously from $48.00) on shares of Insulet Corporation in a report on Wednesday, August 9th. Oppenheimer Holdings, Inc. set a $55.00 price target on Insulet Corporation and gave the company a “hold” rating in a report on Friday, August 4th. Northland Securities reaffirmed a “buy” rating on shares of Insulet Corporation in a report on Friday, August 4th. Cowen and Company reaffirmed an “outperform” rating and set a $63.00 price target (up previously from $52.00) on shares of Insulet Corporation in a report on Friday, August 4th. Finally, BidaskClub cut Insulet Corporation from a “strong-buy” rating to a “buy” rating in a report on Tuesday, August 1st. Eight research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. The company currently has an average rating of “Buy” and an average price target of $50.46.
About Insulet Corporation
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 features a self-adhesive disposable tubeless Omnipod device, which is worn on the body for approximately three days at a time and its wireless companion, the handheld Personal Diabetes Manager (PDM).
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