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In the latest trading session, Insulet (PODD) closed at $280.36, marking a -0.97% move from the previous day. This move was narrower than the S&P 500’s daily loss of 1.45%. Elsewhere, the Dow lost 1.07%, while the tech-heavy Nasdaq lost 3.06%.
Coming into today, shares of the maker of insulin infusion systems had lost 1.19% in the past month. In that same time, the Medical sector lost 4.01%, while the S&P 500 lost 3.83%.
Wall Street will be looking for positivity from Insulet as it approaches its next earnings report date. On that day, Insulet is projected to report earnings of $0.09 per share, which would represent a year-over-year decline of 77.5%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $331.53 million, up 12.23% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $1.26 per share and revenue of $1.53 billion. These totals would mark changes of +1700% and +17.01%, respectively, from last year.
It is also important to note the recent changes to analyst estimates for Insulet. Recent revisions tend to reflect the latest near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company’s business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 23.93% higher. Insulet currently has a Zacks Rank of #2 (Buy).
In terms of valuation, Insulet is currently trading at a Forward P/E ratio of 224.16. This represents a premium compared to its industry’s average Forward P/E of 21.74.
The Medical – Products industry is part of the Medical sector. This industry currently has a Zacks Industry Rank of 151, which puts it in the bottom 41% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. 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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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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