Insulin delivery company Insulet Corporation (NASDAQ: PODD) will be announcing earnings results tomorrow after the bell. Here’s what to expect.
Insulet beat analysts’ revenue expectations by 2.5% last quarter, reporting revenues of $597.5 million, up 17.2% year on year. It was a very strong quarter for the company, with a solid beat of analysts’ constant currency revenue and EPS estimates.
Is Insulet a buy or sell going into earnings? Read our full analysis here, it’s free.
This quarter, analysts are expecting Insulet’s revenue to grow 22.9% year on year to $543 million, in line with the 23.3% increase it recorded in the same quarter last year. Adjusted earnings are expected to come in at $0.79 per share.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Insulet has missed Wall Street’s revenue estimates twice over the last two years.
Looking at Insulet’s peers in the patient monitoring segment, some have already reported their Q1 results, giving us a hint as to what we can expect. Masimo’s revenues decreased 24.5% year on year, beating analysts’ expectations by 1.1%, and iRhythm reported revenues up 20.3%, topping estimates by 3.3%. iRhythm traded up 20.1% following the results.
Read our full analysis of Masimo’s results here and iRhythm’s results here.
There has been positive sentiment among investors in the patient monitoring segment, with share prices up 5.9% on average over the last month. Insulet is up 4.8% during the same time and is heading into earnings with an average analyst price target of $313.60 (compared to the current share price of $258.87).
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