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

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

Insulet Stock Performance

Shares of PODD stock traded down $12.17 on Friday, hitting $165.36. 1,854,772 shares of the stock traded hands, compared to its average volume of 871,833. The company has a debt-to-equity ratio of 1.86, a current ratio of 3.51 and a quick ratio of 2.62. The company has a market capitalization of $11.58 billion, a PE ratio of 56.89, a PEG ratio of 3.14 and a beta of 1.00. Insulet has a 1-year low of $125.82 and a 1-year high of $331.65. The company’s fifty day moving average is $170.59 and its 200 day moving average is $181.63.

Analysts Set New Price Targets

PODD has been the topic of several recent research reports. Raymond James reduced their price target on Insulet from $218.00 to $213.00 and set an “outperform” rating on the stock in a research report on Friday. Barclays reduced their price target on Insulet from $214.00 to $213.00 and set an “equal weight” rating on the stock in a research report on Monday, February 26th. Stifel Nicolaus boosted their price target on Insulet from $163.00 to $208.00 and gave the stock a “hold” rating in a research report on Monday, February 5th. Piper Sandler reduced their price target on Insulet from $250.00 to $230.00 and set an “overweight” rating on the stock in a research report on Friday, February 23rd. Finally, Jefferies Financial Group boosted their price target on Insulet from $255.00 to $260.00 and gave the stock a “buy” rating in a research report on Friday. Four equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $240.67.

Insider Activity at Insulet

In other Insulet news, Director Shacey Petrovic sold 11,609 shares of the stock in a transaction on Wednesday, February 28th. The stock was sold at an average price of $162.92, for a total value of $1,891,338.28. Following the sale, the director now directly owns 2,567 shares of the company’s stock, valued at $418,215.64. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.47% of the company’s stock.

Insulet Company Profile

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.