Insulet Co. (NASDAQ:PODD) Expected to Post Quarterly Sales of $257.41 Million

Brokerages expect that Insulet Co. (NASDAQ:PODD) will report sales of $257.41 million for the current quarter, according to Zacks. Seven analysts have provided estimates for Insulet’s earnings, with the lowest sales estimate coming in at $254.10 million and the highest estimate coming in at $262.00 million. Insulet posted sales of $226.30 million in the same quarter last year, which suggests a positive year-over-year growth rate of 13.7%. The business is expected to report its next earnings report on Thursday, August 5th.

According to Zacks, analysts expect that Insulet will report full-year sales of $1.08 billion for the current year, with estimates ranging from $1.06 billion to $1.10 billion. For the next financial year, analysts forecast that the business will post sales of $1.29 billion, with estimates ranging from $1.26 billion to $1.32 billion. Zacks Investment Research’s sales calculations are an average based on a survey of analysts that that provide coverage for Insulet.

Insulet (NASDAQ:PODD) last announced its quarterly earnings results on Monday, February 22nd. The medical instruments supplier reported ($0.26) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.04) by ($0.22). Insulet had a return on equity of 8.94% and a net margin of 3.33%. The business had revenue of $246.10 million for the quarter, compared to analysts’ expectations of $232.89 million. During the same period last year, the firm earned $0.08 earnings per share. The firm’s quarterly revenue was up 17.5% on a year-over-year basis.

PODD has been the topic of a number of research analyst reports. Canaccord Genuity upgraded Insulet from a “hold” rating to a “buy” rating and set a $280.00 target price on the stock in a research report on Thursday, March 25th. Piper Sandler dropped their price target on Insulet from $260.00 to $250.00 and set a “neutral” rating on the stock in a research report on Friday, May 7th. TheStreet upgraded Insulet from a “c” rating to a “b” rating in a research report on Thursday, May 6th. BTIG Research reiterated a “hold” rating on shares of Insulet in a research report on Friday, May 7th. Finally, Raymond James dropped their target price on Insulet from $296.00 to $285.00 and set an “outperform” rating on the stock in a research report on Thursday. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and six have given a buy rating to the company’s stock. Insulet has an average rating of “Hold” and an average price target of $258.93.

In related news, CEO Shacey Petrovic sold 15,000 shares of the company’s stock in a transaction that occurred on Thursday, April 1st. The stock was sold at an average price of $266.17, for a total value of $3,992,550.00. Following the sale, the chief executive officer now owns 56,589 shares of the company’s stock, valued at approximately $15,062,294.13. The transaction was disclosed in a filing with the SEC, which is available through this link. 1.10% of the stock is currently owned by corporate insiders.

A number of hedge funds have recently bought and sold shares of the stock. Bridger Management LLC purchased a new stake in Insulet in the 1st quarter valued at approximately $24,864,000. Stephens Inc. AR lifted its stake in Insulet by 28.2% in the 1st quarter. Stephens Inc. AR now owns 915 shares of the medical instruments supplier’s stock valued at $239,000 after buying an additional 201 shares in the last quarter. Nomura Asset Management Co. Ltd. lifted its stake in Insulet by 248.0% in the 1st quarter. Nomura Asset Management Co. Ltd. now owns 52,319 shares of the medical instruments supplier’s stock valued at $13,652,000 after buying an additional 37,286 shares in the last quarter. Public Employees Retirement System of Ohio lifted its stake in Insulet by 8.1% in the 1st quarter. Public Employees Retirement System of Ohio now owns 35,552 shares of the medical instruments supplier’s stock valued at $9,276,000 after buying an additional 2,676 shares in the last quarter. Finally, Friess Associates LLC purchased a new position in shares of Insulet during the 1st quarter worth $26,000.

Shares of PODD traded up $6.40 during midday trading on Friday, reaching $232.42. 774,169 shares of the stock were exchanged, compared to its average volume of 507,876. The business’s 50-day moving average price is $274.23 and its 200 day moving average price is $263.95. The company has a debt-to-equity ratio of 1.55, a current ratio of 6.62 and a quick ratio of 5.91. Insulet has a twelve month low of $164.40 and a twelve month high of $306.46. The company has a market capitalization of $15.40 billion, a price-to-earnings ratio of 528.24 and a beta of 0.76.

Insulet Company Profile

Insulet Corporation develops, manufactures, and sells insulin delivery systems for people with insulin-dependent diabetes. It offers Omnipod System, a self-adhesive disposable tubeless Omnipod device that is worn on the body for up to three days at a time, as well as wireless companion, the handheld personal diabetes manager.

Featured Story: Do closed-end mutual funds pay dividends?

Get a free copy of the Zacks research report on Insulet (PODD)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for Insulet (NASDAQ:PODD)

Receive News & Ratings for Insulet Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Insulet and related companies with MarketBeat.com's FREE daily email newsletter.