Leerink Partnrs Issues Negative Outlook for Insulet Earnings

Insulet Co. (NASDAQ:PODD - Free Report) - Leerink Partnrs reduced their Q3 2024 earnings per share estimates for Insulet in a note issued to investors on Tuesday, October 15th. Leerink Partnrs analyst M. Kratky now expects that the medical instruments supplier will earn $0.75 per share for the quarter, down from their previous estimate of $0.93. The consensus estimate for Insulet's current full-year earnings is $3.04 per share. Leerink Partnrs also issued estimates for Insulet's Q4 2024 earnings at $1.00 EPS and FY2025 earnings at $4.48 EPS.

Several other brokerages have also recently commented on PODD. UBS Group raised their target price on shares of Insulet from $211.00 to $223.00 and gave the stock a "neutral" rating in a report on Friday, August 9th. Barclays lifted their price objective on Insulet from $200.00 to $220.00 and gave the company an "equal weight" rating in a report on Monday, August 12th. Citigroup upped their target price on Insulet from $250.00 to $275.00 and gave the company a "buy" rating in a research report on Tuesday, October 1st. BTIG Research raised their price target on Insulet from $250.00 to $260.00 and gave the stock a "buy" rating in a research report on Monday. Finally, Canaccord Genuity Group upped their price objective on shares of Insulet from $236.00 to $269.00 and gave the stock a "buy" rating in a research report on Wednesday, September 25th. Three investment analysts have rated the stock with a hold rating and eleven 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 $242.29.

Insulet Stock Performance

NASDAQ:PODD traded up $7.46 during mid-day trading on Friday, reaching $236.59. 602,134 shares of the company's stock were exchanged, compared to its average volume of 797,504. The company has a debt-to-equity ratio of 1.36, a quick ratio of 2.71 and a current ratio of 3.60. The firm has a market capitalization of $16.59 billion, a PE ratio of 43.02, a price-to-earnings-growth ratio of 4.35 and a beta of 1.21. Insulet has a one year low of $128.68 and a one year high of $243.98. The business's fifty day simple moving average is $218.20 and its two-hundred day simple moving average is $196.82.

Insulet (NASDAQ:PODD - Get Free Report) last released its quarterly earnings results on Thursday, August 8th. The medical instruments supplier reported $0.55 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.56 by ($0.01). The firm had revenue of $488.50 million during the quarter, compared to the consensus estimate of $488.00 million. Insulet had a net margin of 21.11% and a return on equity of 30.73%. The business's revenue for the quarter was up 23.2% compared to the same quarter last year. During the same quarter last year, the firm earned $0.38 earnings per share.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in PODD. Chicago Capital LLC increased its holdings in shares of Insulet by 3.4% during the third quarter. Chicago Capital LLC now owns 168,434 shares of the medical instruments supplier's stock worth $39,203,000 after buying an additional 5,557 shares in the last quarter. Raymond James & Associates increased its holdings in Insulet by 3.8% in the 3rd quarter. Raymond James & Associates now owns 37,456 shares of the medical instruments supplier's stock worth $8,718,000 after purchasing an additional 1,367 shares in the last quarter. Blue Trust Inc. raised its position in Insulet by 84.1% in the third quarter. Blue Trust Inc. now owns 127 shares of the medical instruments supplier's stock valued at $30,000 after purchasing an additional 58 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd boosted its stake in shares of Insulet by 3.0% during the third quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 6,453 shares of the medical instruments supplier's stock valued at $1,502,000 after purchasing an additional 188 shares in the last quarter. Finally, Cabot Wealth Management Inc. grew its holdings in shares of Insulet by 1.7% during the third quarter. Cabot Wealth Management Inc. now owns 15,983 shares of the medical instruments supplier's stock worth $3,720,000 after purchasing an additional 262 shares during the last quarter.

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.