Insulet Corporation (NASDAQ:PODD), a major player in the bio-tech market is showing consistent growth and improvement. The company, having a reputation of regular announcements on financial results, hinted its third quarter 2024 results to be released on November 7, 2024.
Shares from Insulet witnessed a 10% rise this week, contributing to a 52% growth for those who invested a year ago. The insulin pump manufacturer also faced concerns over user growth. However, the
company's valuation continues to remain high, signaling a robust performance. Director Timothy Scannell made news for selling a considerable number of Insulet shares.
Insulet's revenues in Q1 and Q2 for 2024 increased by 23% YoY. Although the company faces challenges such as inventory pressures, the annual revenue forecast remains strong. Analysts expect the introduction of growth catalysts that will boost the company's revenue in 2025. The FDA approved Insulet's Omnipod 5 for Type 2 diabetes, and the SECURE-T2D pivotal trial results show improved results for the same. The company commenced a full commercial launch of Omnipod 5 with extensive sensor integrations in the UK and the Netherlands. However, despite posting better-than-expected results, Insulet stocks dipped by 2% post the earnings release with investors disposing off stocks.
Insulet Corporation PODD News Analytics from Fri, 03 Nov 2023 07:00:00 GMT to Sat, 05 Oct 2024 08:48:54 GMT -
Rating 7
- Innovation 6
- Information 8
- Rumor -2
