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Insulet (PODD) Launches the Omnipod 5 AID System in the UK
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Insulet Corp. (PODD - Free Report) recently announced the commercial launch of its Omnipod 5 Automated Insulin Delivery (“AID”) System for individuals aged two years and older with type 1 diabetes (T1D) in the United Kingdom. The tubeless AID system, which was first launched in the United States last year, had a remarkable impact on simplifying diabetes management.
The latest development highlights Insulet’s efforts to secure broader access for Omnipod 5 globally.
About the Omnipod 5 System
Omnipod 5 is the first CE-marked tubeless hybrid closed loop system (also known as AID) that integrates with the Dexcom G6 Continuous Glucose Monitoring (“CGM”) System to automatically adjust insulin delivery and help protect against high and low glucose levels. The system includes the tubeless pod enhanced with SmartAdjust technology and the Omnipod 5 Controller with its integrated SmartBolus Calculator. The system is interoperable with the Dexcom G6 CGM for AID.
Image Source: Zacks Investment Research
Every five minutes, SmartAdjust technology receives a CGM value and trend and predicts the position of glucose in the next hour. The system then increases, decreases or pauses insulin delivery based on the user’s desired and customized glucose target.
News in Detail
Accompanied by advanced technology, the simplicity of the Omnipod 5 System is evidenced by its experience of reducing the burden and improving the quality of life for diabetes people.
With NICE (the National Institute of Health and Care Excellence) set to approve the hybrid closed loop in England and Wales later this year, the availability of Omnipod 5 provides evidence-based treatment for T1D people in the United Kingdom. The company has partnered with the National Health Service to ensure smooth access to Omnipod 5 at all levels.
Industry Prospects
Per a Research report, the global insulin delivery devices market was valued at $12.5 billion in 2021 and is expected to witness a CAGR of 7.4% by 2030.
Recent Developments
Earlier in April, Insulet announced the FDA clearance of Omnipod GO — an insulin delivery device cleared for use for people with type 2 diabetes age 18 or older, who typically take daily injections of long-acting insulin. The commercial launch in the United States is expected in 2024.
In February, Insulet acquired the assets of California-based Automated Glucose Control LLC, a company focused on developing and commercializing best-in-class AID technology. The $25 million transaction includes the license from the University of California and other intellectual properties.
Price Performance
In the past six months, PODD shares have decreased 3.1% against the industry’s rise of 7%.
Penumbra’s stock has risen 175.7% in the past year. The Zacks Consensus Estimate for Penumbra’s earnings per share (EPS) has remained constant at $1.56 for 2023 and $2.56 for 2024 in the past 30 days.
PEN’s earnings beat estimates in each of the trailing four quarters, the average surprise being 109.42%. In the last reported quarter, the company registered an earnings surprise of 109.09%.
The Zacks Consensus Estimate for Lantheus’ 2023 EPS has remained constant at $5.60 in the past 30 days. Shares of the company have improved 54.4% in the past year against the industry’s 19.8% decline.
LNTH’s earnings beat estimates in each of the trailing four quarters, the average surprise being 25.77%. In the last reported quarter, the company recorded an earnings surprise of 13.95%.
Estimates for Haemonetics’ EPS have increased from $3.29 to $3.55 for 2023 in the past 30 days. Shares of the company have increased 38% in the past year against the industry’s 19.8% decline.
HAE’s earnings beat estimates in each of the trailing four quarters, the average surprise being 12.21%. In the last reported quarter, Haemonetics delivered an earnings surprise of 13.24%.
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Insulet (PODD) Launches the Omnipod 5 AID System in the UK
Insulet Corp. (PODD - Free Report) recently announced the commercial launch of its Omnipod 5 Automated Insulin Delivery (“AID”) System for individuals aged two years and older with type 1 diabetes (T1D) in the United Kingdom. The tubeless AID system, which was first launched in the United States last year, had a remarkable impact on simplifying diabetes management.
The latest development highlights Insulet’s efforts to secure broader access for Omnipod 5 globally.
About the Omnipod 5 System
Omnipod 5 is the first CE-marked tubeless hybrid closed loop system (also known as AID) that integrates with the Dexcom G6 Continuous Glucose Monitoring (“CGM”) System to automatically adjust insulin delivery and help protect against high and low glucose levels. The system includes the tubeless pod enhanced with SmartAdjust technology and the Omnipod 5 Controller with its integrated SmartBolus Calculator. The system is interoperable with the Dexcom G6 CGM for AID.
Image Source: Zacks Investment Research
Every five minutes, SmartAdjust technology receives a CGM value and trend and predicts the position of glucose in the next hour. The system then increases, decreases or pauses insulin delivery based on the user’s desired and customized glucose target.
News in Detail
Accompanied by advanced technology, the simplicity of the Omnipod 5 System is evidenced by its experience of reducing the burden and improving the quality of life for diabetes people.
With NICE (the National Institute of Health and Care Excellence) set to approve the hybrid closed loop in England and Wales later this year, the availability of Omnipod 5 provides evidence-based treatment for T1D people in the United Kingdom. The company has partnered with the National Health Service to ensure smooth access to Omnipod 5 at all levels.
Industry Prospects
Per a Research report, the global insulin delivery devices market was valued at $12.5 billion in 2021 and is expected to witness a CAGR of 7.4% by 2030.
Recent Developments
Earlier in April, Insulet announced the FDA clearance of Omnipod GO — an insulin delivery device cleared for use for people with type 2 diabetes age 18 or older, who typically take daily injections of long-acting insulin. The commercial launch in the United States is expected in 2024.
In February, Insulet acquired the assets of California-based Automated Glucose Control LLC, a company focused on developing and commercializing best-in-class AID technology. The $25 million transaction includes the license from the University of California and other intellectual properties.
Price Performance
In the past six months, PODD shares have decreased 3.1% against the industry’s rise of 7%.
Zacks Rank and Key Picks
Insulet currently carries a Zacks Rank #3 (Hold).
Some better-ranked stocks in the overall healthcare sector are Penumbra (PEN - Free Report) , Lantheus (LNTH - Free Report) and Haemonetics (HAE - Free Report) . While Penumbra and Lantheus each sport a Zacks Rank #1 (Strong Buy), Haemonetics carries a Zacks Rank #2 (Buy) at present. You can see the complete list of today’s Zacks #1 Rank stocks here.
Penumbra’s stock has risen 175.7% in the past year. The Zacks Consensus Estimate for Penumbra’s earnings per share (EPS) has remained constant at $1.56 for 2023 and $2.56 for 2024 in the past 30 days.
PEN’s earnings beat estimates in each of the trailing four quarters, the average surprise being 109.42%. In the last reported quarter, the company registered an earnings surprise of 109.09%.
The Zacks Consensus Estimate for Lantheus’ 2023 EPS has remained constant at $5.60 in the past 30 days. Shares of the company have improved 54.4% in the past year against the industry’s 19.8% decline.
LNTH’s earnings beat estimates in each of the trailing four quarters, the average surprise being 25.77%. In the last reported quarter, the company recorded an earnings surprise of 13.95%.
Estimates for Haemonetics’ EPS have increased from $3.29 to $3.55 for 2023 in the past 30 days. Shares of the company have increased 38% in the past year against the industry’s 19.8% decline.
HAE’s earnings beat estimates in each of the trailing four quarters, the average surprise being 12.21%. In the last reported quarter, Haemonetics delivered an earnings surprise of 13.24%.