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Insulet (PODD) to Report Q4 Earnings: What's in the Cards?
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Insulet (PODD - Free Report) is scheduled to report fourth-quarter and full-year 2023 results on Feb 22, after market close.
In the last reported quarter, the company’s adjusted earnings per share of 71 cents surpassed the Zacks Consensus Estimate by 77.5%. Earnings surpassed estimates in each of the trailing four quarters, the average beat being 105.14%.
Let’s take a look at how things have shaped up prior to this announcement.
Factors at Play
Within the company’s Omnipod business, Insulet is expected to have generated solid revenues banking on the continued success of Omnipod 5, its advanced automated insulin delivery system. Within the United States, Omnipod 5, being the only FDA-cleared fully disposable pod-based automated insulin delivery (AID) system, is expected to have witnessed strong market adoption.
Internationally, the company is expected to have benefited from the ongoing rollout of Omnipod 5 in several international markets. The company might have generated strong sales from the strong early adoption in the U.K. Further, the Omnipod 5 rollout in Germany in 2023 is likely to have also contributed to international business growth.
In addition to growing awareness of Omnipod and high product demand among patients globally, a growing number of healthcare providers are writing scripts for it. In the third quarter, the company witnessed an increase in prescribers compared to the second quarter. This uptrend might have continued in the fourth quarter as well.
Further, in the Type 2 diabetes market, Omnipod Dash is witnessing momentum. Type 2 diabetes patients represent approximately 20% of the company’s U.S. new customer starts. As the company is yet to progress with the Omnipod 5 AID system in the Type 2 market, the company is experiencing huge demand for Omnipod DASH in the market. This is expected to have been reflected in the fourth-quarter results as well.
The Zacks Consensus Estimate for the company’s fourth-quarter 2023 revenues is pegged at $460.2 million, suggesting a 24.5% decline from the year-ago reported figure.
The Zacks Consensus Estimate for the company’s fourth-quarter 2023 earnings per share of 67 cents indicates a 21.8% fall from the year-ago reported figure.
What Our Model Suggests
Per our proven model, a stock with a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) and a positive Earnings ESP has higher chances of beating estimates. However, this is not the case here, as you can see:
Earnings ESP: The company has an Earnings ESP of 0.00%. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Zacks Rank: The company currently carries a Zacks Rank #3.
Stocks Worth a Look
Here are some medical stocks worth considering, as these have the right combination of elements to post an earnings beat in their upcoming release.
The stock fell 5.2% in the past year. XRAY’s earnings beat estimates in the last reported quarter. It has a trailing four-quarter average earnings surprise of 20.65%.
Merit Medical Systems (MMSI - Free Report) has an Earnings ESP of +3.68% and a Zacks Rank of 2 at present.
The stock has risen 15% in the past year. MMSI’s earnings beat estimates in the last reported quarter. It has a trailing four-quarter average earnings surprise of 14.41%.
Health Catalyst, Inc. (HCAT - Free Report) has an Earnings ESP of +300.00% and a Zacks Rank of 2. HCAT has an estimated growth rate of 61.5% for 2024.
Health Catalyst’s earnings surpassed estimates in all the trailing four quarters, with the average surprise being 185.4%.
Image: Bigstock
Insulet (PODD) to Report Q4 Earnings: What's in the Cards?
Insulet (PODD - Free Report) is scheduled to report fourth-quarter and full-year 2023 results on Feb 22, after market close.
In the last reported quarter, the company’s adjusted earnings per share of 71 cents surpassed the Zacks Consensus Estimate by 77.5%. Earnings surpassed estimates in each of the trailing four quarters, the average beat being 105.14%.
Let’s take a look at how things have shaped up prior to this announcement.
Factors at Play
Within the company’s Omnipod business, Insulet is expected to have generated solid revenues banking on the continued success of Omnipod 5, its advanced automated insulin delivery system. Within the United States, Omnipod 5, being the only FDA-cleared fully disposable pod-based automated insulin delivery (AID) system, is expected to have witnessed strong market adoption.
Internationally, the company is expected to have benefited from the ongoing rollout of Omnipod 5 in several international markets. The company might have generated strong sales from the strong early adoption in the U.K. Further, the Omnipod 5 rollout in Germany in 2023 is likely to have also contributed to international business growth.
In addition to growing awareness of Omnipod and high product demand among patients globally, a growing number of healthcare providers are writing scripts for it. In the third quarter, the company witnessed an increase in prescribers compared to the second quarter. This uptrend might have continued in the fourth quarter as well.
Further, in the Type 2 diabetes market, Omnipod Dash is witnessing momentum. Type 2 diabetes patients represent approximately 20% of the company’s U.S. new customer starts. As the company is yet to progress with the Omnipod 5 AID system in the Type 2 market, the company is experiencing huge demand for Omnipod DASH in the market. This is expected to have been reflected in the fourth-quarter results as well.
Insulet Corporation Price and EPS Surprise
Insulet Corporation price-eps-surprise | Insulet Corporation Quote
Q4 Estimates
The Zacks Consensus Estimate for the company’s fourth-quarter 2023 revenues is pegged at $460.2 million, suggesting a 24.5% decline from the year-ago reported figure.
The Zacks Consensus Estimate for the company’s fourth-quarter 2023 earnings per share of 67 cents indicates a 21.8% fall from the year-ago reported figure.
What Our Model Suggests
Per our proven model, a stock with a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) and a positive Earnings ESP has higher chances of beating estimates. However, this is not the case here, as you can see:
Earnings ESP: The company has an Earnings ESP of 0.00%. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Zacks Rank: The company currently carries a Zacks Rank #3.
Stocks Worth a Look
Here are some medical stocks worth considering, as these have the right combination of elements to post an earnings beat in their upcoming release.
Dentsply Sirona (XRAY - Free Report) has an Earnings ESP of +6.43% and a Zacks Rank of 3 at present. You can see the complete list of today’s Zacks #1 Rank stocks here.
The stock fell 5.2% in the past year. XRAY’s earnings beat estimates in the last reported quarter. It has a trailing four-quarter average earnings surprise of 20.65%.
Merit Medical Systems (MMSI - Free Report) has an Earnings ESP of +3.68% and a Zacks Rank of 2 at present.
The stock has risen 15% in the past year. MMSI’s earnings beat estimates in the last reported quarter. It has a trailing four-quarter average earnings surprise of 14.41%.
Health Catalyst, Inc. (HCAT - Free Report) has an Earnings ESP of +300.00% and a Zacks Rank of 2. HCAT has an estimated growth rate of 61.5% for 2024.
Health Catalyst’s earnings surpassed estimates in all the trailing four quarters, with the average surprise being 185.4%.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.