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Insulet (PODD) Stock Moves -0.34%: What You Should Know

Insulet (PODD) closed at $177.41 in the latest trading session, marking a -0.34% move from the prior day. The stock's performance was ahead of the S&P 500's daily loss of 0.95%. Meanwhile, the Dow experienced a drop of 1.09%, and the technology-dominated Nasdaq saw a decrease of 0.84%.

Shares of the maker of insulin infusion systems have depreciated by 2.1% over the course of the past month, outperforming the Medical sector's loss of 3.76% and lagging the S&P 500's gain of 1.78%.

Market participants will be closely following the financial results of Insulet in its upcoming release. The company plans to announce its earnings on May 9, 2024. The company is predicted to post an EPS of $0.39, indicating a 69.57% growth compared to the equivalent quarter last year. Alongside, our most recent consensus estimate is anticipating revenue of $423.52 million, indicating a 18.27% upward movement from the same quarter last year.

PODD's full-year Zacks Consensus Estimates are calling for earnings of $3.08 per share and revenue of $1.96 billion. These results would represent year-over-year changes of +12% and +15.7%, respectively.

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Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for Insulet. These revisions help to show the ever-changing nature of near-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.

Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.

The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 1.53% higher. Insulet presently features a Zacks Rank of #2 (Buy).

Looking at valuation, Insulet is presently trading at a Forward P/E ratio of 57.88. This valuation marks a premium compared to its industry's average Forward P/E of 21.89.

We can additionally observe that PODD currently boasts a PEG ratio of 3.2. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. As of the close of trade yesterday, the Medical - Products industry held an average PEG ratio of 2.41.

The Medical - Products industry is part of the Medical sector. This industry, currently bearing a Zacks Industry Rank of 97, finds itself in the top 39% echelons of all 250+ industries.

The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.

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Insulet Corporation (PODD) : Free Stock Analysis Report

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