Insulet (PODD) closed at $289.36 in the latest trading session, marking a -0.96% move from the prior day. This change lagged the S&P 500's 1.29% gain on the day. Elsewhere, the Dow gained 0.78%, while the tech-heavy Nasdaq lost 4.94%.
Coming into today, shares of the maker of insulin infusion systems had lost 1.38% in the past month. In that same time, the Medical sector lost 1.75%, while the S&P 500 gained 5.64%.
Wall Street will be looking for positivity from Insulet as it approaches its next earnings report date. This 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. Our most recent consensus estimate is calling for quarterly revenue of $330.36 million, up 7.36% from the year-ago period.
Any recent changes to analyst estimates for Insulet should also be noted by investors. Recent revisions tend to reflect the latest near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable 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. The Zacks Consensus EPS estimate remained stagnant within the past month. Insulet is currently a Zacks Rank #3 (Hold).
Investors should also note Insulet's current valuation metrics, including its Forward P/E ratio of 286.7. For comparison, its industry has an average Forward P/E of 24.29, which means Insulet is trading at a premium to the group.
The Medical - Products industry is part of the Medical sector. This group has a Zacks Industry Rank of 150, putting it in the bottom 41% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual 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.
You can find more information on all of these metrics, and much more, on Zacks.com.
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