Insulet Delivers 26% Revenue Growth and Raises 2017 Guidance; Stock Pumps Up 7%
Insulet (NASDAQ: PODD) reported second-quarter 2017 earnings after the market closed on Thursday.
The drug-delivery company, which is a leader in tubeless insulin pump technology with its Omnipod Insulin Management System, delivered revenue growth of 26% -- which exceeded its guidance -- while its loss per share widened, driven by increased research-and-development expenses and interest expenses. The company also raised its revenue guidance for 2017.
The market liked the results, sending Insulet shares to a closing gain of 7.1% on Friday. The stock has gained 51.5% for the one-year period through Friday, outpacing the S&P 500's total return of 16.9%.
Source: Fool.com
Insulet Corp. Stock
€183.40
-1.350%
Insulet Corp. is currently one of the favorites of our community with 16 Buy predictions and no Sell predictions.
With a target price of 215 € there is a slightly positive potential of 17.23% for Insulet Corp. compared to the current price of 183.4 €.
