Insulin delivery company Insulet Corporation (NASDAQ: PODD) will be reporting results this Thursday before market hours. Here’s what investors should know.
Insulet beat analysts’ revenue expectations by 5.8% last quarter, reporting revenues of $649.1 million, up 32.9% year on year. It was an incredible quarter for the company, with a solid beat of analysts’ constant currency 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, analysts are expecting Insulet’s revenue to grow 24.9% year on year to $679.6 million, in line with the 25.7% increase it recorded in the same quarter last year. Adjusted earnings are expected to come in at $1.14 per share.
Analysts covering the company have generally 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, beating revenue estimates every single time over the past two years by 5.3% on average.
Looking at Insulet’s peers in the patient monitoring segment, some have already reported their Q3 results, giving us a hint as to what we can expect. iRhythm delivered year-on-year revenue growth of 30.7%, beating analysts’ expectations by 4.6%, and Masimo reported revenues up 8.2%, topping estimates by 1.4%. iRhythm traded up 1.6% following the results.
Read our full analysis of iRhythm’s results here and Masimo’s results here.
Investors in the patient monitoring segment have had steady hands going into earnings, with share prices flat over the last month. Insulet is up 4.3% during the same time and is heading into earnings with an average analyst price target of $363.63 (compared to the current share price of $325).
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