Published on 18 Mar 2024 on Zacks via Yahoo Finance

Here's Why You Should Buy Insulet (PODD) Stock Right Now

Insulet Corporation PODD is well-poised to gain in the coming quarters, backed by the strength of its revolutionary Omnipod 5 Automated Insulin Delivery (“AID”) system. The continued market expansion of Omnipod DASH is also highly encouraging.  Strong solvency is an added upside.  Meanwhile, the company’s sole dependency on the Omnipod system and intense competitive pressure remain concerns for its operations.

In the past year, this Zacks Rank #2 (Buy) stock has decreased 47.9% against the 6.6% rise of the industry and 29.3% growth of the S&P 500 composite.

The developer, manufacturer and distributor of insulin delivery systems has a market capitalization of $11.60 billion. Insulet projects a long-term estimated earnings growth rate of 18.1% compared with 11.4% of the industry. PODD’s earnings surpassed estimates in each of the trailing four quarters, delivering an average surprise of 100.09%.