Insulet Corporation (PODD) Expected to Announce Quarterly Sales of $114.24 Million
Wall Street analysts expect Insulet Corporation (NASDAQ:PODD) to post $114.24 million in sales for the current fiscal quarter, Zacks Investment Research reports. Nine analysts have provided estimates for Insulet Corporation’s earnings. The highest sales estimate is $117.44 million and the lowest is $108.70 million. Insulet Corporation posted sales of $94.87 million during the same quarter last year, which suggests a positive year over year growth rate of 20.4%. The company is expected to announce its next quarterly earnings results on Thursday, November 2nd.
According to Zacks, analysts expect that Insulet Corporation will report full year sales of $114.24 million for the current financial year, with estimates ranging from $433.00 million to $454.09 million. For the next financial year, analysts forecast that the firm will report sales of $536.65 million per share, with estimates ranging from $504.90 million to $571.17 million. Zacks’ sales calculations are an average based on a survey of sell-side analysts that follow Insulet Corporation.
Insulet Corporation (NASDAQ:PODD) last announced its quarterly earnings data on Thursday, August 3rd. The medical instruments supplier reported ($0.13) earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of ($0.13). Insulet Corporation had a negative return on equity of 46.74% and a negative net margin of 7.30%. The firm had revenue of $110 million for the quarter, compared to analysts’ expectations of $106.23 million. During the same period last year, the firm earned ($0.08) earnings per share. The company’s revenue for the quarter was up 26.0% compared to the same quarter last year.
A number of research analysts recently issued reports on PODD shares. Jefferies Group LLC reaffirmed a “buy” rating on shares of Insulet Corporation in a report on Friday, June 16th. BidaskClub raised Insulet Corporation from a “buy” rating to a “strong-buy” rating in a report on Tuesday, June 27th. Canaccord Genuity reaffirmed a “hold” rating and set a $42.00 target price on shares of Insulet Corporation in a report on Friday, May 26th. Cowen and Company reaffirmed a “buy” rating and set a $52.00 target price on shares of Insulet Corporation in a report on Friday, July 14th. Finally, ValuEngine raised Insulet Corporation from a “sell” rating to a “hold” rating in a report on Friday, June 2nd. Eight investment analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Insulet Corporation has a consensus rating of “Buy” and an average price target of $50.46.
A number of institutional investors have recently added to or reduced their stakes in the stock. FMR LLC boosted its position in Insulet Corporation by 0.5% in the second quarter. FMR LLC now owns 8,687,487 shares of the medical instruments supplier’s stock valued at $445,755,000 after buying an additional 39,836 shares during the period. Capital Research Global Investors boosted its position in Insulet Corporation by 2.5% in the second quarter. Capital Research Global Investors now owns 5,883,633 shares of the medical instruments supplier’s stock valued at $301,889,000 after buying an additional 145,724 shares during the period. Vanguard Group Inc. boosted its position in Insulet Corporation by 2.2% in the second quarter. Vanguard Group Inc. now owns 4,655,119 shares of the medical instruments supplier’s stock valued at $238,854,000 after buying an additional 98,272 shares during the period. BlackRock Inc. boosted its position in Insulet Corporation by 7,285.2% in the first quarter. BlackRock Inc. now owns 4,194,117 shares of the medical instruments supplier’s stock valued at $180,724,000 after buying an additional 4,137,326 shares during the period. Finally, Clearbridge Investments LLC boosted its position in Insulet Corporation by 64.2% in the first quarter. Clearbridge Investments LLC now owns 2,379,224 shares of the medical instruments supplier’s stock valued at $102,521,000 after buying an additional 930,062 shares during the period.
Insulet Corporation (NASDAQ:PODD) opened at 54.26 on Wednesday. The company’s market capitalization is $3.15 billion. Insulet Corporation has a 52 week low of $30.69 and a 52 week high of $55.46. The stock’s 50 day moving average price is $51.50 and its 200-day moving average price is $45.38.
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About Insulet Corporation
Insulet Corporation is engaged in the development, manufacturing and sale of the OmniPod Insulin Management System (the OmniPod System), an insulin delivery system for people with insulin-dependent diabetes. The Omnipod System features a self-adhesive disposable tubeless Omnipod device, which is worn on the body for approximately three days at a time and its wireless companion, the handheld Personal Diabetes Manager (PDM).
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