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Insulet (PODD) Expands Omnipod 5 Even As Macro Woes Linger
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Insulet Corporation (PODD - Free Report) continues to gain on solid prospects in the diabetes market. The company is progressing well with respect to its four-pillar strategy. Yet, macroeconomic woes exert bottom-line pressure. The stock carries a Zacks Rank #3 (Hold).
Insulet has been progressing well with respect to its four-pillar strategy, where the first two pillars include expanding access and awareness and delivering consumer-focused innovation.
In terms of the first strategy of access and awareness, the company is witnessing continued uptake of Omnipod through the U.S. pharmacy channel. Omnipod 5 continues to be a driving force behind U.S. growth.
In terms of the second strategy of delivering consumer-focused innovation, Insulet’s sales and marketing teams and international expansion efforts are aligned with its long-term growth profile. The company is focused on advancing its initiatives. During the second quarter, Insulet commercially launched Omnipod 5 in the United Kingdom and in August, the device reached Germany commercially.
The third part of Insulet’s four-pillar strategy is to grow its global addressable market. In this regard, Insulet expanded its efforts with the rollout of Omnipod DASH across international markets. It entered the Asia Pacific region through Australia and also expanded into Turkey. The Omnipod DASH was also launched in Saudi Arabia and the United Arab Emirates. Together, these countries expand Insulet’s total addressable market by nearly 1 million.
The fourth focus area of Insulet Is to drive operational excellence. The availability of Omnipod through the U.S. pharmacy channel has made accessibility easier and more affordable by removing lengthy lock-in periods and high upfront costs.
On the flip side, Insulet is incurring higher costs associated with Omnipod 5 production. Added to this, higher production costs due to global inflation as well as supply chain disruptions, and labor shortages continue to put pressure on margins.
During the second quarter, selling, general & administrative expenses rose 2.5%. Research and development expenses rose 29.3% year over year.
Further, Insulet’s financial results continue to largely depend on the performance of its lead product — Omnipod System. Per the company, any adverse changes in the market acceptance of the product or worsening of the factors that negatively influence sales will dent the company’s financials majorly.
Meanwhile, Insulet’s tough competitive landscape adds to the woes.
Over the past year, the stock has underperformed the industry. Shares have lost 34.7% during this period compared with the 8.9% decline of the industry.
Haemonetics’ stock has risen 19.9% in the past year. Earnings estimates for Haemonetics have increased from $3.56 to $3.74 for 2023 and from $3.96 to $4.07 for 2024 in the past 30 days. It currently carries a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
HAE’s earnings beat estimates in each of the trailing four quarters, delivering an average surprise of 19.39%. In the last reported quarter, it posted an earnings surprise of 38.16%.
Estimates for Quanterix’s 2023 loss per share have narrowed from $1.19 to 97 cents in the past 30 days. Shares of the company have increased 167.5% in the past year against the industry’s decline of 1.7%. It currently carries Zacks Rank #2 (Buy).
QTRX’s earnings beat estimates in each of the trailing four quarters, delivering an average surprise of 30.39%. In the last reported quarter, it posted an earnings surprise of 55.56%.
Estimates for SiBone’s 2023 loss have narrowed from $1.42 to $1.27 per share in the past 30 days. Shares of the company have risen 31% in the past year compared with the industry’s rise of 1.9%. It currently carries Zacks Rank #2.
SIBN’s earnings beat estimates in all the trailing four quarters, the average surprise being 20.37%. In the last reported quarter, SiBone delivered an earnings surprise of 26.83%.
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Insulet (PODD) Expands Omnipod 5 Even As Macro Woes Linger
Insulet Corporation (PODD - Free Report) continues to gain on solid prospects in the diabetes market. The company is progressing well with respect to its four-pillar strategy. Yet, macroeconomic woes exert bottom-line pressure. The stock carries a Zacks Rank #3 (Hold).
Insulet has been progressing well with respect to its four-pillar strategy, where the first two pillars include expanding access and awareness and delivering consumer-focused innovation.
In terms of the first strategy of access and awareness, the company is witnessing continued uptake of Omnipod through the U.S. pharmacy channel. Omnipod 5 continues to be a driving force behind U.S. growth.
In terms of the second strategy of delivering consumer-focused innovation, Insulet’s sales and marketing teams and international expansion efforts are aligned with its long-term growth profile. The company is focused on advancing its initiatives. During the second quarter, Insulet commercially launched Omnipod 5 in the United Kingdom and in August, the device reached Germany commercially.
Insulet Corporation Price
Insulet Corporation price | Insulet Corporation Quote
The third part of Insulet’s four-pillar strategy is to grow its global addressable market. In this regard, Insulet expanded its efforts with the rollout of Omnipod DASH across international markets. It entered the Asia Pacific region through Australia and also expanded into Turkey. The Omnipod DASH was also launched in Saudi Arabia and the United Arab Emirates. Together, these countries expand Insulet’s total addressable market by nearly 1 million.
The fourth focus area of Insulet Is to drive operational excellence. The availability of Omnipod through the U.S. pharmacy channel has made accessibility easier and more affordable by removing lengthy lock-in periods and high upfront costs.
On the flip side, Insulet is incurring higher costs associated with Omnipod 5 production. Added to this, higher production costs due to global inflation as well as supply chain disruptions, and labor shortages continue to put pressure on margins.
During the second quarter, selling, general & administrative expenses rose 2.5%. Research and development expenses rose 29.3% year over year.
Further, Insulet’s financial results continue to largely depend on the performance of its lead product — Omnipod System. Per the company, any adverse changes in the market acceptance of the product or worsening of the factors that negatively influence sales will dent the company’s financials majorly.
Meanwhile, Insulet’s tough competitive landscape adds to the woes.
Over the past year, the stock has underperformed the industry. Shares have lost 34.7% during this period compared with the 8.9% decline of the industry.
Key Picks
Some better-ranked stocks in the broader medical space are Haemonetics (HAE - Free Report) , Quanterix (QTRX - Free Report) and SiBone (SIBN - Free Report) .
Haemonetics’ stock has risen 19.9% in the past year. Earnings estimates for Haemonetics have increased from $3.56 to $3.74 for 2023 and from $3.96 to $4.07 for 2024 in the past 30 days. It currently carries a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
HAE’s earnings beat estimates in each of the trailing four quarters, delivering an average surprise of 19.39%. In the last reported quarter, it posted an earnings surprise of 38.16%.
Estimates for Quanterix’s 2023 loss per share have narrowed from $1.19 to 97 cents in the past 30 days. Shares of the company have increased 167.5% in the past year against the industry’s decline of 1.7%. It currently carries Zacks Rank #2 (Buy).
QTRX’s earnings beat estimates in each of the trailing four quarters, delivering an average surprise of 30.39%. In the last reported quarter, it posted an earnings surprise of 55.56%.
Estimates for SiBone’s 2023 loss have narrowed from $1.42 to $1.27 per share in the past 30 days. Shares of the company have risen 31% in the past year compared with the industry’s rise of 1.9%. It currently carries Zacks Rank #2.
SIBN’s earnings beat estimates in all the trailing four quarters, the average surprise being 20.37%. In the last reported quarter, SiBone delivered an earnings surprise of 26.83%.