Insulet (NASDAQ:PODD) Posts Earnings Results

Insulet (NASDAQ:PODD) released its quarterly earnings results on Thursday. The medical instruments supplier reported $0.55 EPS for the quarter, missing analysts’ consensus estimates of $0.56 by ($0.01), Briefing.com reports. Insulet had a net margin of 13.14% and a return on equity of 34.06%. The company had revenue of $488.50 million during the quarter, compared to the consensus estimate of $488.00 million. During the same quarter last year, the firm posted $0.38 EPS. The company’s quarterly revenue was up 23.2% on a year-over-year basis. Insulet updated its Q3 2024 guidance to EPS.

Insulet Price Performance

Shares of NASDAQ PODD opened at $182.19 on Monday. The firm has a market cap of $12.76 billion, a price-to-earnings ratio of 55.21, a price-to-earnings-growth ratio of 3.53 and a beta of 1.16. The stock has a fifty day simple moving average of $196.26 and a two-hundred day simple moving average of $183.78. Insulet has a 1-year low of $125.82 and a 1-year high of $239.70. The company has a current ratio of 3.74, a quick ratio of 2.75 and a debt-to-equity ratio of 1.72.

Wall Street Analyst Weigh In

PODD has been the topic of a number of analyst reports. Canaccord Genuity Group reiterated a “buy” rating and issued a $234.00 price target on shares of Insulet in a research report on Tuesday, July 23rd. Wolfe Research raised Insulet from a “peer perform” rating to an “outperform” rating and set a $200.00 price objective on the stock in a research note on Tuesday, May 7th. OTR Global reissued a “mixed” rating on shares of Insulet in a research note on Monday, June 10th. Raymond James dropped their price objective on Insulet from $218.00 to $213.00 and set an “outperform” rating on the stock in a research note on Friday, May 10th. Finally, Barclays dropped their price objective on Insulet from $213.00 to $200.00 and set an “equal weight” rating on the stock in a research note on Monday, May 13th. Four research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $230.88.

Insiders Place Their Bets

In other Insulet news, SVP Mark N. Field sold 1,500 shares of the stock in a transaction on Friday, June 14th. The stock was sold at an average price of $199.96, for a total transaction of $299,940.00. Following the sale, the senior vice president now owns 12,875 shares in the company, valued at $2,574,485. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, SVP Mark N. Field sold 1,500 shares of the stock in a transaction on Friday, June 14th. The stock was sold at an average price of $199.96, for a total value of $299,940.00. Following the sale, the senior vice president now owns 12,875 shares in the company, valued at $2,574,485. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Mark N. Field sold 2,131 shares of the stock in a transaction on Monday, June 10th. The stock was sold at an average price of $190.43, for a total value of $405,806.33. Following the completion of the sale, the senior vice president now owns 14,375 shares in the company, valued at approximately $2,737,431.25. The disclosure for this sale can be found here. Insiders have sold a total of 13,931 shares of company stock worth $2,636,286 over the last 90 days. Corporate insiders own 0.47% of the company’s stock.

About Insulet

Insulet Corporation develops, manufactures, and sells insulin delivery systems for people with insulin-dependent diabetes. The company's Omnipod platform includes the Omnipod 5 Automated Insulin Delivery System (Omnipod 5) which includes a proprietary AID algorithm embedded in the Pod that integrates with a third-party continuous glucose monitor to obtain glucose values through wireless bluetooth communication; Omnipod DASH that features a bluetooth enabled Pod that is controlled by a smartphone-like Personal Diabetes Manager with a color touch screen user interface; and Omnipod GO, a standalone, wearable, insulin delivery system that provides a fixed rate of continuous rapid-acting insulin for 72 hours.