Insulet Corporation (PODD) Expected to Announce Quarterly Sales of $114.24 Million
Wall Street brokerages expect that Insulet Corporation (NASDAQ:PODD) will report sales of $114.24 million for the current fiscal quarter, according to Zacks Investment Research. 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 reported sales of $94.87 million during the same quarter last year, which indicates a positive year-over-year growth rate of 20.4%. The firm is expected to report its next earnings report after the market closes on Thursday, November 2nd.
According to Zacks, analysts expect that Insulet Corporation will report full-year sales of $114.24 million for the current year, with estimates ranging from $438.70 million to $454.09 million. For the next fiscal year, analysts anticipate that the company will post sales of $536.65 million per share, with estimates ranging from $504.90 million to $571.17 million. Zacks’ sales calculations are a mean average based on a survey of research analysts that cover Insulet Corporation.
Insulet Corporation (NASDAQ:PODD) last issued its quarterly earnings data on Thursday, August 3rd. The medical instruments supplier reported ($0.13) earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of ($0.13). The firm had revenue of $110.00 million during the quarter, compared to the consensus estimate of $106.23 million. Insulet Corporation had a negative net margin of 7.30% and a negative return on equity of 46.74%. The business’s revenue for the quarter was up 26.0% compared to the same quarter last year. During the same period last year, the business posted ($0.08) earnings per share.
PODD has been the topic of several research reports. Oppenheimer Holdings, Inc. reaffirmed a “hold” rating on shares of Insulet Corporation in a report on Saturday, July 22nd. Zacks Investment Research downgraded Insulet Corporation from a “hold” rating to a “sell” rating in a report on Thursday, October 5th. Jefferies Group LLC reaffirmed a “buy” rating and set a $48.00 price objective on shares of Insulet Corporation in a report on Friday, July 14th. Northland Securities reaffirmed a “buy” rating on shares of Insulet Corporation in a report on Friday, August 4th. Finally, Cowen and Company reaffirmed a “buy” rating and set a $52.00 price objective on shares of Insulet Corporation in a report on Friday, July 14th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of $52.57.
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Shares of Insulet Corporation (NASDAQ PODD) opened at 59.57 on Wednesday. The firm’s market capitalization is $3.46 billion. Insulet Corporation has a 12 month low of $30.69 and a 12 month high of $59.99. The firm’s 50-day moving average is $57.77 and its 200 day moving average is $49.22.
In other Insulet Corporation news, EVP Charles Alpuche acquired 2,500 shares of the company’s stock in a transaction that occurred on Wednesday, September 6th. The shares were acquired at an average price of $58.08 per share, with a total value of $145,200.00. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 2.60% of the company’s stock.
A number of institutional investors have recently modified their holdings of the stock. Paulson & CO. Inc. acquired a new stake in Insulet Corporation during the 2nd quarter worth $1,283,000. Lord Abbett & CO. LLC raised its stake in Insulet Corporation by 29.6% during the 2nd quarter. Lord Abbett & CO. LLC now owns 838,302 shares of the medical instruments supplier’s stock worth $43,013,000 after buying an additional 191,217 shares during the period. RNC Capital Management LLC acquired a new stake in Insulet Corporation during the 2nd quarter worth $225,000. The Manufacturers Life Insurance Company raised its stake in Insulet Corporation by 0.4% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 44,746 shares of the medical instruments supplier’s stock worth $2,296,000 after buying an additional 198 shares during the period. Finally, State Street Corp raised its stake in Insulet Corporation by 7.7% during the 2nd quarter. State Street Corp now owns 1,189,155 shares of the medical instruments supplier’s stock worth $61,014,000 after buying an additional 85,280 shares during the period.
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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