/Insulet%20Corporation%20insulin%20monitor-by%20Maria%20Wan%20via%20Shutterstock.jpg)
Insulet Corporation (PODD), headquartered in Massachusetts, develops and markets the Omnipod Insulin Management System, which includes a small, tubeless, disposable insulin pump and a wireless Personal Diabetes Manager (PDM). The company is valued at $13.6 billion by market cap. The leading drug manufacturer plans to release its Q2 earnings for fiscal 2024 on Thursday, Aug. 8, after the market closes.
Ahead of the event, analysts expect Insulet to report a profit of $0.56 per share, up 47.4% from $0.38 per share in the year-ago quarter. The company has exceeded Wall Street’s EPS estimates in each of the last four quarters.
Insulet's EPS rose 114.7% year over year to $0.73 in the last reported quarter and exceeded the consensus estimate by 87.2%, thanks to strong sales of its wearable and tubeless insulin pumps.
Moving forward, analysts expect Insulet to report an EPS of $3.11 in fiscal 2024, up 13.1% from $2.75 in fiscal year 2023. Its fiscal 2025 EPS is projected to rise 20.9% year over year to $3.76.
PODD’s stock has plunged 30.8% over the past 52 weeks, significantly underperforming the broader S&P 500 Index's ($SPX) 22.5% gains and the S&P 500 Healthcare Sector SPDR’s (XLV) 9.1% returns over the same time frame.
Macroeconomic headwinds and cutting-throat competition in the industry have weighed on Insulet’s stock momentum over the past year.
Moreover, on May 9, Insulet announced its Q1 earnings report, and its shares surged 1.1%. However, the shares declined 6.6% in the following trading session. While it surpassed the topline and bottom-line estimates, its selling, general, and administrative expenses rose 22.7% year over year to $199.7 million. Despite obstacles, Insulet raised its annual revenue growth forecast to 14%-18%, up from 12%-17%.
Despite challenges, the consensus on Insulet stock is a “Strong Buy.” Among the 20 analysts covering the stock, 16 recommend a "Strong Buy," one suggests a "Moderate Buy," and three analysts advise a "Hold."
Furthermore, the average analyst price target for Insulet is $232.74, indicating a potential upside of 18.3% from the current price levels.
On the date of publication, Kritika Sarmah did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.
