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Insulet lifted its full-year revenue growth outlook to between 19% and 22% from 16% to 20%.Shares of Insulet (PODD) surged 20% in Friday afternoon trading to pace the S&P 500, a day after the insulin pump maker reported stronger-than-anticipated quarterly results and lifted its full-year revenue outlook.
After the bell Thursday, Insulet posted first-quarter adjusted earnings per share of $1.02 on revenue that jumped 30% year-over-year on a constant-currency basis to $569 million. Analysts surveyed by Visible Alpha had anticipated $0.81 and $543.0 million, respectively, while the company had projected revenue to grow by 22% to 25%.
The Acton, Mass.-based firm raised its constant-currency 2025 revenue growth outlook to between 19% and 22% from 16% to 20%.
"Insulet is just getting started on an exciting journey to revolutionize diabetes management globally," new CEO Ashley McEvoy said.
Jefferies analysts lifted their price target on Insulet stock—which had been down close to 2% for this year entering Friday's session—to $360 from $350. "We are encouraged by PODD's execution and continue to view it as a top idea for '25 given a path to robust growth, driven by product differentiation and new indications," they wrote.
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