Insulin delivery company Insulet Corporation (NASDAQ:PODD) will be reporting earnings this Wednesday morning. Here’s what investors should know.
Insulet beat analysts’ revenue expectations last quarter, reporting revenues of $783.8 million, up 31.2% year on year. It was a strong quarter for the company, with an impressive beat of analysts’ revenue estimates and a beat of analysts’ EPS estimates.
Is Insulet a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, the market is expecting Insulet’s revenue to grow 28.4% year on year, in line with the 28.8% increase it recorded in the same quarter last year.
The majority of analysts covering the company have reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Insulet has a history of exceeding Wall Street’s expectations.
Looking at Insulet’s peers in the patient monitoring segment, some have already reported their Q1 results, giving us a hint as to what we can expect. iRhythm delivered year-on-year revenue growth of 25.7%, beating analysts’ expectations by 2.8%, and DexCom reported revenues up 15%, topping estimates by 1.4%. iRhythm traded down 6.5% following the results while DexCom was up 2.7%.
Read our full analysis of iRhythm’s results here and DexCom’s results here.
There has been positive sentiment among investors in the patient monitoring segment, with share prices up 5.7% on average over the last month. Insulet is down 15% during the same time and is heading into earnings with an average analyst price target of $326.35 (compared to the current share price of $173.00).
WHILE YOU’RE HERE: The Next Palantir? One satellite company captures images of every point on Earth. Every single day. The Pentagon wants it. Hedge funds are using it to beat earnings. You’ve probably never heard of it.
This is what the early days of Palantir looked like before it became a $437 billion giant. Same playbook. Different technology. If you missed Palantir, you need to see this. Claim The Stock Ticker for Free HERE.