Luciana Borio, a director at Insulet Corp (NASDAQ:PODD), recently executed a stock sale, according to a filing with the Securities and Exchange Commission. On November 12, Borio sold 508 shares of Insulet's common stock at a price of $274.80 per share, amounting to a total transaction value of $139,598. Following this sale, Borio retains ownership of 2,790 shares in the company. This transaction is part of the routine disclosures required for company insiders.
In other recent news, Insulet Corporation reported a strong financial performance for the third quarter, surpassing $2 billion in full-year revenue for the first time. The company's total Omnipod revenue increased by 26%, with U.S. and international growth rates of 23% and 35% respectively. Following these developments, Insulet raised its full-year revenue guidance, expecting total Omnipod growth to be between 21% and 22%.
In the wake of these results, Barclays (LON:BARC) has increased the price target for Insulet to $234 from $220, maintaining an Equal-weight rating on the stock. The upgrade comes after the company's third-quarter performance surpassed analyst estimates, largely due to growth in international sales and drug delivery revenues.
In addition to financial outcomes, Insulet is preparing for the commercial launch of its T2 insulin pump, with expectations of significant market traction due to the company's leadership in the U.S. However, Barclays analyst warns of potential competition in the insulin pump sector, which could impact Insulet's future performance.
Lastly, Insulet's Omnipod 5 received FDA clearance for type 2 diabetes, opening up a significant new market segment. To capitalize on this, the company is planning to expand its sales force to better target the type 2 diabetes population, with the aim of capturing over 40% of the insulin-intensive market by 2025.
InvestingPro Insights
Insulet Corp (NASDAQ:PODD) has been experiencing significant momentum in the market, as evidenced by recent InvestingPro data. The company's stock has shown remarkable performance, with a 14.96% return in the past week and an impressive 70.85% return over the last six months. This upward trajectory aligns with the insider sale reported, as the stock price of $274.80 per share during the transaction is near the company's 52-week high, currently at 96.46% of that peak.
InvestingPro Tips highlight that Insulet is trading at a low P/E ratio relative to its near-term earnings growth, suggesting potential undervaluation despite the recent price surge. The company's PEG ratio of 0.19 for the last twelve months as of Q3 2024 supports this view, indicating that the stock might still have room for growth relative to its earnings potential.
Furthermore, Insulet's financial health appears robust, with InvestingPro data showing a revenue of $1.98 billion for the last twelve months as of Q3 2024, representing a strong growth of 27.42%. The company's profitability is also noteworthy, with a gross profit margin of 69.32% and an operating income margin of 16.76% for the same period.
These insights provide context to the insider sale and suggest that Insulet's strong market position and financial performance may continue to drive investor interest. For readers seeking a more comprehensive analysis, InvestingPro offers 19 additional tips for Insulet Corp, providing a deeper understanding of the company's prospects and valuation.
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