Insulet has raised its annual revenue growth forecast, now expecting an increase from 16% to 20%, up from a previous estimate of 19% to 22%. This adjustment comes after the company reported stronger-than-anticipated quarterly results, leading to a 20% rise in its stock during Friday’s afternoon trading, outpacing the S&P 500.
After the market closed on Thursday, Insulet shared adjusted earnings per share of $569 million, with revenues climbing 30% year-over-year on an adjusted currency basis. Analysts had forecasted earnings of $0.81 per share and revenues of $504.3 million, but Insulet expects a 22% to 25% increase moving forward.
Based in Acton, Massachusetts, Insulet’s revenue growth forecast for 2025 has also been updated, now anticipating increases of 16% to 20% from earlier expectations of 19% to 22%.
“Insulet is just beginning an exciting journey to revolutionize diabetes management globally,” said new CEO Ashley Maxevoy.
Analysts at Jefferies have lifted the price target for Insulet’s stock from $350 to $360, a nearly 2% increase this year ahead of Friday’s trading session. They express optimism for the company, noting that they view it as a top investment for 2025, supported by product differentiation and new indications for growth.
