Insulet (PODD) Dips More Than Broader Markets: What You Should Know
Insulet (PODD) closed the most recent trading day at $289.70, moving -0.68% from the previous trading session. This change lagged the S&P 500's 0.02% loss on the day. Elsewhere, the Dow gained 0.03%, while the tech-heavy Nasdaq added 5.44%.
Prior to today's trading, shares of the maker of insulin infusion systems had lost 0.13% over the past month. This has was narrower than the Medical sector's loss of 0.87% and lagged the S&P 500's gain of 4.57% in that time.
Investors will be hoping for strength from Insulet as it approaches its next earnings release, which is expected to be February 23, 2023. The company is expected to report EPS of $0.24, down 42.86% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $330.36 million, up 7.36% from the year-ago period.
Investors should also note any recent changes to analyst estimates for Insulet. These recent revisions tend to reflect the evolving nature of short-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 1.75% lower. Insulet currently has a Zacks Rank of #3 (Hold).
In terms of valuation, Insulet is currently trading at a Forward P/E ratio of 286.22. This valuation marks a premium compared to its industry's average Forward P/E of 22.54.
The Medical - Products industry is part of the Medical sector. This industry currently has a Zacks Industry Rank of 107, which puts it in the top 43% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
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