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PODD stock stays on investors' radar owing to its solid progress with Omnipod 5 and robust potential in the diabetes market.
Medical device maker Insulet convinced a jury that Korean rival EOFlow owes it $452 million in damages for stealing trade secrets related to insulin pumps, according to a verdict made public in Massachusetts federal court on Thursday.
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Insulet's Omnipod 5 System is now compatible with Abbott's FreeStyle Libre 2 Plus Sensor in the United States.
Insulet's stock has surged over 50% in six months due to strong Q3 earnings and expanded market potential with Omnipod 5's approval for Type 2 diabetes. Despite impressive growth, high market expectations and potential competition from giants like Medtronic and Abbott pose significant risks to Insulet's future performance. The company's financials are robust, with rising revenues, margins, and a strong cash position, but the stock's high valuation demands continued exceptional growth.
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Insulet's third-quarter performance benefits from the continued high demand for Omnipod 5.
Jim Hollingshead, Insulet CEO, joins 'Closing Bell: Overtime' to discuss the Insulet earnings, Apple blood sugar testing app and more.
Insulet stock (NASDAQ: PODD) surged nearly 10% on Friday, November 8, after the company posted an upbeat Q3 and raised its sales outlook. It reported sales of $544 million and adjusted earnings of $0.90 per share, compared to the consensus estimates of $518 million and $0.77, respectively.
Insulet Corporation (PODD) Q3 2024 Earnings Call Transcript
Although the revenue and EPS for Insulet (PODD) give a sense of how its business performed in the quarter ended September 2024, it might be worth considering how some key metrics compare with Wall Street estimates and the year-ago numbers.