Insulet (PODD) Set to Announce Quarterly Earnings on Thursday

Insulet (NASDAQ:PODD) will be releasing its earnings data after the market closes on Thursday, August 8th. Analysts expect Insulet to post earnings of $0.56 per share for the quarter. Insulet has set its FY 2024 guidance at EPS and its Q2 2024 guidance at EPS.Persons interested in participating in the company’s earnings conference call can do so using this link.

Insulet (NASDAQ:PODD) last released its earnings results on Thursday, May 9th. The medical instruments supplier reported $0.73 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.39 by $0.34. Insulet had a net margin of 13.14% and a return on equity of 34.06%. The business had revenue of $441.70 million for the quarter, compared to analysts’ expectations of $424.05 million. During the same period last year, the company earned $0.23 earnings per share. The company’s quarterly revenue was up 23.3% on a year-over-year basis. On average, analysts expect Insulet to post $3 EPS for the current fiscal year and $4 EPS for the next fiscal year.

Insulet Price Performance

PODD opened at $196.35 on Wednesday. The company’s 50 day simple moving average is $195.32 and its 200 day simple moving average is $184.05. The company has a debt-to-equity ratio of 1.72, a quick ratio of 2.75 and a current ratio of 3.74. Insulet has a 1 year low of $125.82 and a 1 year high of $265.69. The stock has a market capitalization of $13.75 billion, a PE ratio of 59.50, a P/E/G ratio of 3.55 and a beta of 1.16.

Insider Activity at Insulet

In other Insulet news, Director Timothy J. Scannell sold 7,000 shares of Insulet stock in a transaction on Monday, June 10th. The shares were sold at an average price of $190.51, for a total transaction of $1,333,570.00. Following the completion of the sale, the director now owns 35,586 shares of the company’s stock, valued at approximately $6,779,488.86. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, Director Timothy J. Scannell sold 7,000 shares of the business’s stock in a transaction that occurred on Monday, June 10th. The stock was sold at an average price of $190.51, for a total value of $1,333,570.00. Following the completion of the sale, the director now owns 35,586 shares of the company’s stock, valued at approximately $6,779,488.86. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, SVP Mark N. Field sold 1,500 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the senior vice president now directly owns 12,875 shares of the company’s stock, valued at $2,574,485. The disclosure for this sale can be found here. Over the last three months, insiders have sold 13,931 shares of company stock valued at $2,636,286. Corporate insiders own 0.47% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently issued reports on PODD. Canaccord Genuity Group reissued a “buy” rating and issued a $234.00 target price on shares of Insulet in a research report on Tuesday, July 23rd. Wolfe Research upgraded shares of Insulet from a “peer perform” rating to an “outperform” rating and set a $200.00 price target on the stock in a report on Tuesday, May 7th. OTR Global restated a “mixed” rating on shares of Insulet in a report on Monday, June 10th. Redburn Atlantic began coverage on shares of Insulet in a report on Thursday, May 30th. They issued a “buy” rating and a $235.00 price target on the stock. Finally, Barclays cut their price target on shares of Insulet from $213.00 to $200.00 and set an “equal weight” rating on the stock in a report on Monday, May 13th. Four equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $239.18.

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.