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Insulet (PODD) Gains As Market Dips: What You Should Know

In the latest trading session, Insulet (PODD) closed at $292.38, marking a +1.11% move from the previous day. This move outpaced the S&P 500's daily loss of 0.76%. Meanwhile, the Dow lost 0.76%, and the Nasdaq, a tech-heavy index, lost 10.92%.

Coming into today, shares of the maker of insulin infusion systems had lost 4.08% in the past month. In that same time, the Medical sector lost 0.24%, while the S&P 500 gained 2.18%.

Insulet will be looking to display strength as it nears its next earnings release, which is expected to be February 23, 2023. On that day, Insulet is projected to report earnings of $0.24 per share, which would represent a year-over-year decline of 42.86%. Our most recent consensus estimate is calling for quarterly revenue of $330.36 million, up 7.36% from the year-ago period.

It is also important to note the recent changes to analyst estimates for Insulet. These revisions typically reflect the latest short-term business trends, which can change frequently. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.

Our research shows that these estimate changes are directly correlated with near-term stock prices. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, 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 is holding a Zacks Rank of #3 (Hold) right now.

Valuation is also important, so investors should note that Insulet has a Forward P/E ratio of 283.74 right now. This represents a premium compared to its industry's average Forward P/E of 22.45.

The Medical - Products industry is part of the Medical sector. This industry currently has a Zacks Industry Rank of 148, which puts it in the bottom 42% 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.

To follow PODD in the coming trading sessions, be sure to utilize Zacks.com.

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Insulet Corporation (PODD) : Free Stock Analysis Report

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