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Here's Why Insulet (PODD) is a Strong Momentum Stock

It doesn't matter your age or experience: taking full advantage of the stock market and investing with confidence are common goals for all investors.

Many investors also have a go-to methodology that helps guide their buy and sell decisions. One way to find winning stocks based on your preferred way of investing is to use the Zacks Style Scores, which are indicators that rate stocks based on three widely-followed investing types: value, growth, and momentum.

Is This 1 Momentum Stock a Screaming Buy Right Now?

Momentum investors, who live by the saying "the trend is your friend," are most interested in taking advantage of upward or downward trends in a stock's price or earnings outlook. Utilizing one-week price change and the monthly percentage change in earnings estimates, among other factors, the Momentum Style Score can help determine favorable times to buy high-momentum stocks.

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Insulet (PODD)

Insulet Corporation is a leading developer, manufacturer and marketer of the Omnipod Insulin Management System. The system is equipped with a self-adhesive, small and lightweight disposable tubeless Omnipod device along with the wireless and handheld Personal Diabetes Manager (PDM). It is worn on the body for approximately three days at a time and allows virtually pain-free automated cannula insertion and blood glucose meter integration.

PODD boasts a Momentum Style Score of A and VGM Score of B, and holds a Zacks Rank #3 (Hold) rating. Shares of Insulet has seen some interesting price action recently; the stock is up 0.3% over the past one week and up 8.3% over the past four weeks. And in the last one-year period, PODD has lost 38.4%. As for the stock's trading volume, 1,062,235 shares on average were traded over the last 20 days.

Momentum investors also pay close attention to a company's earnings. For PODD, five analysts revised their earnings estimate upwards in the last 60 days, and the Zacks Consensus Estimate has increased $0.03 to $3.11 per share for 2024. PODD boasts an average earnings surprise of 83%.

With strong earnings growth, a good Zacks Rank, and top-tier Momentum and VGM Style Scores, investors should think about adding PODD to their portfolios.

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Insulet Corporation (PODD) : Free Stock Analysis Report

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Zacks Investment Research