Insulet (PODD)
NASDAQ:PODD
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Insulet
(NASDAQ:PODD)
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Rating:67Neutral
Price Target:
$167.00
▼(-18.03% Downside)
Action:Reiterated
Date:05/09/26
The score is primarily supported by strong financial performance (scale, margins, improving profitability, and robust FCF) and a constructive earnings update with raised growth guidance. Offsetting these positives, technicals are the main drag due to a pronounced downtrend (despite oversold readings), and valuation remains premium with a P/E around 40 and no dividend yield provided.
Positive Factors
Durable revenue growth with strong gross margins
Insulet has scaled revenue materially (to ~$2.9B TTM) while maintaining industry-leading gross margins (~68–72%). This combination reflects a durable razor/razorblade model and manufacturing leverage that supports sustained unit economics and reinvestment capacity over the next several quarters.
Negative Factors
Voluntary device correction and regulatory reporting risk
A manufacturing issue causing under‑delivery and a voluntary correction introduces reputational and regulatory risk that can persist. Even with limited affected lots, ongoing scrutiny, remediation costs (~$40M) and reporting ambiguity can slow new patient starts and complicate payor/regulatory interactions over quarters.
Read all positive and negative factors
Positive Factors
Negative Factors
Durable revenue growth with strong gross margins
Insulet has scaled revenue materially (to ~$2.9B TTM) while maintaining industry-leading gross margins (~68–72%). This combination reflects a durable razor/razorblade model and manufacturing leverage that supports sustained unit economics and reinvestment capacity over the next several quarters.
Read all positive factors
Insulet Key Performance Indicators (KPIs)
Any
Revenue by Segment
Provides insight into which business segments are driving sales, highlighting areas of strength and potential growth within the company's operations.
Provides insight into which business segments are driving sales, highlighting areas of strength and potential growth within the company's operations.
Data provided by:
The Fly
The FlyInsulet (PODD) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$10.21B
Dividend YieldN/A
Average Volume (3M)875.70K
Price to Earnings (P/E)40.3
Beta (1Y)0.63
Revenue Growth31.93%
EPS Growth-24.86%
CountryUS
Employees5,400
SectorHealthcare
Sector Strength45
IndustryMedical - Devices
Share Statistics
EPS (TTM)4.31
Shares Outstanding69,264,670
10 Day Avg. Volume820,402
30 Day Avg. Volume875,701
Financial Highlights & Ratios
PEG Ratio-1.96
Price to Book (P/B)13.20
Price to Sales (P/S)7.38
P/FCF Ratio52.94
Enterprise Value/Market Cap1.08
Enterprise Value/Revenue3.80
Enterprise Value/Gross Profit5.35
Enterprise Value/Ebitda19.64
Forecast
1Y Price Target
$262.18Price Target Upside28.69% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering23
EPS Forecast (FY)6.48
Revenue Forecast (FY)$3.33B
Insulet Business Overview & Revenue Model
Company Description
Insulet Corporation develops, manufactures, and sells insulin delivery systems for people with insulin-dependent diabetes. It offers Omnipod System, a self-adhesive disposable tubeless Omnipod device that is worn on the body for up to three days a...
How the Company Makes Money
Insulet primarily makes money by selling the Omnipod insulin delivery system through a recurring-use (“razor/razorblade”) model. The largest revenue driver is ongoing sales of disposable Pods that users replace regularly, creating repeat purchase ...
Insulet Earnings Call Summary
Earnings Call Date:May 06, 2026
(Q1-2026)
| % Change Since: |
Next Earnings Date:Aug 06, 2026
Earnings Call Sentiment Positive
The call conveyed strong operational and financial momentum: robust revenue growth (30% constant-currency company; 45% international), margin expansion, ~40% EPS growth, raised full-year guidance, product R&D progress (Libre 3 Plus integration, Omnipod 6, fully closed-loop type 2) and healthy cash generation and buybacks. Offsetting items were largely identifiable, management-described headwinds and investments — including a voluntary medical device correction with related costs (~$12M), excess & obsolescence charges during a product transition (impacting gross margin >150 bps), short-term seasonality affecting Q1 U.S. new customer starts, modest retention pressure as type 2 mix grows, and elevated interest/cost pressures. Overall, positives (strong growth, margin expansion, product pipeline, guidance raise and cash actions) materially outweigh the disclosed challenges, which management framed as manageable, partly one-time, or investments to support durable growth.Positive Updates
Strong Top-Line Growth
Q1 total revenues of $762M, up 34% reported and 30% constant currency year-over-year; total Omnipod revenue grew ~33% on a constant currency basis. U.S. Omnipod revenue grew 28% in Q1 (approximately 26% underlying after a ~$10M timing benefit). International Omnipod revenue grew 59% reported and 45% constant currency.
Negative Updates
One-Time and Transitionary Margin Headwinds
Adjusted gross margin declined 90 basis points YoY to 71%; incurred ~ $12M of GAAP costs related to a March voluntary medical device correction. Excess & obsolescence costs tied to transition to new pod configurations negatively impacted adjusted gross margin by more than 150 basis points.
Read all updates
Q1-2026 Updates
Positive
Negative
Strong Top-Line Growth
Q1 total revenues of $762M, up 34% reported and 30% constant currency year-over-year; total Omnipod revenue grew ~33% on a constant currency basis. U.S. Omnipod revenue grew 28% in Q1 (approximately 26% underlying after a ~$10M timing benefit). International Omnipod revenue grew 59% reported and 45% constant currency.
Read all positive updates
Company Guidance
Insulet guided Q2 Omnipod revenue growth of 21–23% and total company revenue growth of 20–22% (Q2 U.S. Omnipod 18–20%—including a ~$10M revenue shift into Q1 that creates ~200 bps headwind to Q2—and Q2 international Omnipod 28–30%), with foreign currency expected to provide roughly a 100 bp benefit to company growth in Q2 and ~200 bp benefit to international growth; for full‑year 2026 they raised targets to Omnipod revenue growth of 22–24% and total company revenue growth of 21–23% (full‑year U.S. Omnipod 20–22%; international Omnipod 26–28% with a reported ~300 bp FX tailwind and ~100 bp FX benefit assumed for the full year), plus about 100 bps of operating margin expansion, net interest expense of ~ $40M (≈+$15M year-over-year), a non‑GAAP tax rate of 21–22%, adjusted EPS growth of greater than 25%, and free cash flow roughly flat to 2025 while capex ramps to support manufacturing expansion.Insulet Financial Statement Overview
Summary
Income Statement
83
Very Positive
Balance Sheet
78
Positive
Cash Flow
81
Very Positive
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 2.90B | 2.71B | 2.07B | 1.70B | 1.31B | 1.10B |
| Gross Profit | 2.06B | 1.94B | 1.45B | 1.16B | 805.60M | 752.10M |
| EBITDA | 561.50M | 586.90M | 423.70M | 323.60M | 109.00M | 139.60M |
| Net Income | 302.80M | 247.10M | 418.30M | 206.30M | 4.60M | 16.80M |
Balance Sheet | ||||||
| Total Assets | 2.99B | 3.19B | 3.09B | 2.59B | 2.25B | 2.05B |
| Cash, Cash Equivalents and Short-Term Investments | 480.40M | 716.10M | 953.40M | 704.20M | 674.70M | 791.60M |
| Total Debt | 948.10M | 1.05B | 1.42B | 1.45B | 1.43B | 1.29B |
| Total Liabilities | 1.68B | 1.68B | 1.88B | 1.86B | 1.77B | 1.49B |
| Stockholders Equity | 1.30B | 1.52B | 1.21B | 732.70M | 476.40M | 556.30M |
Cash Flow | ||||||
| Free Cash Flow | 412.20M | 377.70M | 305.40M | 70.10M | -38.30M | -190.80M |
| Operating Cash Flow | 619.30M | 569.30M | 430.30M | 145.70M | 119.00M | -68.10M |
| Investing Cash Flow | -234.70M | -222.70M | -146.20M | -119.40M | -191.10M | -82.70M |
| Financing Cash Flow | -1.19B | -595.30M | -28.10M | -13.60M | -40.30M | 40.70M |
Insulet Technical Analysis
Negative
203.73
Price Trends
228.27
Negative
258.94
Negative
287.58
Negative
Market Momentum
-8.71
Negative
36.22
Neutral
54.85
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For PODD, the sentiment is Negative. The current price of 203.73 is below the 20-day moving average (MA) of 208.20, below the 50-day MA of 228.27, and below the 200-day MA of 287.58, indicating a bearish trend. The MACD of -8.71 indicates Negative momentum. The RSI at 36.22 is Neutral, neither overbought nor oversold. The STOCH value of 54.85 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for PODD.
Insulet Risk Analysis
Insulet disclosed 36 risk factors in its most recent earnings report. Insulet reported the most risks in the "Legal & Regulatory" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Insulet Peers Comparison
UnderperformOutperform
Sector (51)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
73 Outperform | $23.78B | 30.31 | 33.83% | ― | 16.15% | 76.15% | |
72 Outperform | $20.80B | 27.66 | 11.05% | 0.94% | 8.73% | 26.55% | |
67 Neutral | $10.21B | 40.30 | 21.38% | ― | 31.93% | -24.86% | |
65 Neutral | $16.19B | 18.51 | 5.78% | 1.05% | 9.23% | -14.66% | |
62 Neutral | $24.15B | 31.92 | 8.96% | 3.30% | ― | ― | |
51 Neutral | $7.86B | -0.30 | -43.30% | 2.27% | 22.53% | -2.21% | |
47 Neutral | $878.54M | -16.07 | -68.29% | ― | 4.54% | 49.66% |
* Healthcare Sector Average
PODD
Insulet
147.46
-178.38
-54.74%
DXCM
Dexcom
61.63
-25.33
-29.13%
PHG
Koninklijke Philips
25.23
2.12
9.18%
STE
Steris
212.11
-37.94
-15.17%
ZBH
Zimmer Biomet Holdings
83.70
-11.08
-11.69%
TNDM
Tandem Diabetes Care
12.82
-9.91
-43.60%
Insulet Corporate Events
Business Operations and StrategyProduct-Related AnnouncementsRegulatory Filings and Compliance
Insulet Clarifies FDA Injury Reports on Device Correction
Negative
Apr 29, 2026
On March 12, 2026, Insulet disclosed a voluntary medical device correction after receiving 18 reports of Serious Adverse Events linked to its product. On April 10, 2026, the company updated customers, adding 13 expired lots to the affected product...
Business Operations and StrategyFinancial DisclosuresProduct-Related Announcements
Insulet Issues Voluntary Omnipod 5 Device Correction
Negative
Mar 12, 2026
On March 12, 2026, Insulet initiated a voluntary medical device correction in the U.S. for specific lots of its Omnipod 5 Pods after product monitoring identified a manufacturing issue that can cause a tear in internal tubing and lead to underR...
Executive/Board ChangesRegulatory Filings and Compliance
Insulet Finalizes Severance Terms for Departing CFO
Neutral
Mar 4, 2026
On February 27, 2026, Insulet Corporation entered into a severance agreement with former Chief Financial Officer Ana M. Chadwick that aligns fully with previously disclosed executive compensation and severance arrangements. The agreement formalize...
Business Operations and StrategyStock BuybackFinancial Disclosures
Insulet Posts Strong Q4 Results, Expands Share Repurchase Program
Positive
Feb 18, 2026
Insulet reported strong fourth-quarter and full-year 2025 results on February 18, 2026, with revenue up about 31% for both periods and constant-currency growth of roughly 29% to 30%, marking a 10th straight year of at least 20% constant-currency r...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.