Insulet (NASDAQ:PODD) Posts Quarterly Earnings Results, Beats Estimates By $0.34 EPS

Insulet (NASDAQ:PODD) posted its quarterly earnings results on Thursday. The medical instruments supplier reported $0.73 EPS for the quarter, beating the consensus estimate of $0.39 by $0.34, Briefing.com reports. Insulet had a net margin of 12.16% and a return on equity of 32.19%. The company had revenue of $441.70 million for the quarter, compared to analyst estimates of $424.05 million. During the same period in the prior year, the company earned $0.23 earnings per share. The firm’s revenue was up 23.3% on a year-over-year basis. Insulet updated its FY 2024 guidance to EPS and its Q2 2024 guidance to EPS.

Insulet Price Performance

Shares of PODD traded down $12.17 during mid-day trading on Friday, hitting $165.36. 1,854,772 shares of the company were exchanged, compared to its average volume of 871,833. Insulet has a 1-year low of $125.82 and a 1-year high of $331.65. The company has a debt-to-equity ratio of 1.86, a quick ratio of 2.62 and a current ratio of 3.51. The company has a 50 day moving average of $170.59 and a 200-day moving average of $181.63. The stock has a market cap of $11.58 billion, a price-to-earnings ratio of 56.89, a price-to-earnings-growth ratio of 3.14 and a beta of 1.00.

Insider Buying and Selling

In other Insulet news, Director Shacey Petrovic sold 11,609 shares of the stock in a transaction dated Wednesday, February 28th. The shares were sold at an average price of $162.92, for a total value of $1,891,338.28. Following the completion of the sale, the director now owns 2,567 shares in the company, valued at approximately $418,215.64. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 0.47% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have commented on the stock. Piper Sandler lowered their price target on shares of Insulet from $250.00 to $230.00 and set an “overweight” rating on the stock in a report on Friday, February 23rd. Wolfe Research raised 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. Jefferies Financial Group upped their price target on shares of Insulet from $255.00 to $260.00 and gave the company a “buy” rating in a report on Friday. Barclays lowered their price target on shares of Insulet from $214.00 to $213.00 and set an “equal weight” rating on the stock in a report on Monday, February 26th. Finally, Raymond James lowered their target price on shares of Insulet from $218.00 to $213.00 and set an “outperform” rating on the stock in a research note on Friday. Four research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $240.67.

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.