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Insulet Corporation (PODD - Free Report) recently announced positive results from the first pivotal study for the Omnipod 5 Automated Insulin Delivery System. The finding of the study suggests that Omnipod 5 significantly enhances time in range and lowers glycated hemoglobin (HbA1c) in people with type 1 diabetes.
For investors’ note, Omnipod 5 is the world’s first tubeless, wearable system that continuously adapts insulin delivery based on glucose levels and trends.
Omnipod 5 Systems has got the breakthrough device designation from the FDA and is presently under review. Insulet is planning to launch Omnipod 5 in limited release during the first half of 2021. The recent favorable study results will boost Insulet Omnipod’s business globally.
Findings of the Study
Insulet presented data in two groups of type 1 diabetes patients -- 128 adults and adolescents between ages 14 and 70 years and 112 children aged six to below 14 years. The participants used the Omnipod 5 System at home for a period of three months after a 14-day period utilizing their standard therapy, comprising of both pump therapy and multiple daily injections. Notably, the data of the study was presented at ENDO 2021, the Endocrine Society’s annual meeting.
The Omnipod 5 System demonstrated a significant rise in time in range in the adults and adolescents, from 65% to 74% and an overall reduction of HbA1c from 7.16% to 6.78%. In children, time in range enhanced from 53% to 68% and HbA1c improved from 7.67% to 6.99%.
Using Omnipod 5, participants achieved significant improvement in glycemic outcomes, including the significantly low rates of hypoglycemia, which noticeably lowers the burden of diabetes management. Favorable Omnipod 5 study result is the next step in Insulet’s mission to simplify life for people suffering from diabetes.
Industry Prospects
Per a report by Global Market Insights, the global tubeless insulin pump market size was valued at $549.6 million in 2018 and is expected to reach $2.4 billion by 2025, at a CAGR of 24.0%. Increasing cases of diabetes across the globe will accelerate the adoption of tubeless insulin pump systems for better care and management of disease and is anticipated to witness significant growth in the upcoming years.
Omnipod Growth
Per the fourth-quarter earnings call held in February 2021, Insulet reported that its Omnipod business grew 18%, which was $8 million above the company’s guided range. The company also secured coverage for around 75% of U.S. covered lives for Omnipod DASH by the end of fourth-quarter 2020.
Moreover, in January 2021, Insulet launched Omnipod DASH Insulin Management System in Canada. Notably, the Omnipod DASH System’s Personal Diabetes Manager combined with the existing benefits of Pod therapy will lend Canadian users more freedom and flexibility in diabetes management.
Price Performance
Shares of the company have gained 81.5% in a year’s time compared with the industry’s growth of 61%.
Zacks Rank and Key Picks
Currently, Insulet carries a Zacks Rank #4 (Sell).
Envista’s long-term earnings growth rate is estimated at 24%.
Meridian Bioscience’s long-term earnings growth rate is projected at 55%.
Owens & Minor’s long-term earnings growth rate is estimated at 49%.
Zacks Top 10 Stocks for 2021
In addition to the stocks discussed above, would you like to know about our 10 best buy-and-hold tickers for the entirety of 2021?
Last year's 2020 Zacks Top 10 Stocks portfolio returned gains as high as +386.8%. Now a brand-new portfolio has been handpicked from over 4,000 companies covered by the Zacks Rank. Don’t miss your chance to get in on these long-term buys.
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Insulet's (PODD) Omnipod 5 Pivotal Trial Outcome Favorable
Insulet Corporation (PODD - Free Report) recently announced positive results from the first pivotal study for the Omnipod 5 Automated Insulin Delivery System. The finding of the study suggests that Omnipod 5 significantly enhances time in range and lowers glycated hemoglobin (HbA1c) in people with type 1 diabetes.
For investors’ note, Omnipod 5 is the world’s first tubeless, wearable system that continuously adapts insulin delivery based on glucose levels and trends.
Omnipod 5 Systems has got the breakthrough device designation from the FDA and is presently under review. Insulet is planning to launch Omnipod 5 in limited release during the first half of 2021. The recent favorable study results will boost Insulet Omnipod’s business globally.
Findings of the Study
Insulet presented data in two groups of type 1 diabetes patients -- 128 adults and adolescents between ages 14 and 70 years and 112 children aged six to below 14 years. The participants used the Omnipod 5 System at home for a period of three months after a 14-day period utilizing their standard therapy, comprising of both pump therapy and multiple daily injections. Notably, the data of the study was presented at ENDO 2021, the Endocrine Society’s annual meeting.
The Omnipod 5 System demonstrated a significant rise in time in range in the adults and adolescents, from 65% to 74% and an overall reduction of HbA1c from 7.16% to 6.78%. In children, time in range enhanced from 53% to 68% and HbA1c improved from 7.67% to 6.99%.
Using Omnipod 5, participants achieved significant improvement in glycemic outcomes, including the significantly low rates of hypoglycemia, which noticeably lowers the burden of diabetes management. Favorable Omnipod 5 study result is the next step in Insulet’s mission to simplify life for people suffering from diabetes.
Industry Prospects
Per a report by Global Market Insights, the global tubeless insulin pump market size was valued at $549.6 million in 2018 and is expected to reach $2.4 billion by 2025, at a CAGR of 24.0%. Increasing cases of diabetes across the globe will accelerate the adoption of tubeless insulin pump systems for better care and management of disease and is anticipated to witness significant growth in the upcoming years.
Omnipod Growth
Per the fourth-quarter earnings call held in February 2021, Insulet reported that its Omnipod business grew 18%, which was $8 million above the company’s guided range. The company also secured coverage for around 75% of U.S. covered lives for Omnipod DASH by the end of fourth-quarter 2020.
Moreover, in January 2021, Insulet launched Omnipod DASH Insulin Management System in Canada. Notably, the Omnipod DASH System’s Personal Diabetes Manager combined with the existing benefits of Pod therapy will lend Canadian users more freedom and flexibility in diabetes management.
Price Performance
Shares of the company have gained 81.5% in a year’s time compared with the industry’s growth of 61%.
Zacks Rank and Key Picks
Currently, Insulet carries a Zacks Rank #4 (Sell).
A few better-ranked stocks from the broader medical space are Envista Holdings Corporation (NVST - Free Report) , Meridian Bioscience Inc. and Owens & Minor, Inc. (OMI - Free Report) , each sporting a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Envista’s long-term earnings growth rate is estimated at 24%.
Meridian Bioscience’s long-term earnings growth rate is projected at 55%.
Owens & Minor’s long-term earnings growth rate is estimated at 49%.
Zacks Top 10 Stocks for 2021
In addition to the stocks discussed above, would you like to know about our 10 best buy-and-hold tickers for the entirety of 2021?
Last year's 2020 Zacks Top 10 Stocks portfolio returned gains as high as +386.8%. Now a brand-new portfolio has been handpicked from over 4,000 companies covered by the Zacks Rank. Don’t miss your chance to get in on these long-term buys.
Access Zacks Top 10 Stocks for 2021 today >>