Latest news with #Insulet
Yahoo
3 days ago
- Business
- Yahoo
Tandem, Insulet monitoring CMS payment proposal for diabetes tech
This story was originally published on MedTech Dive. To receive daily news and insights, subscribe to our free daily MedTech Dive newsletter. Medtech executives discussed planned changes to how the Centers for Medicare and Medicaid Services could pay for diabetes technology in earnings calls this week. Insulin pump makers Insulet and Tandem Diabetes Care don't expect much of an impact on their business from the proposed changes, but said they would be monitoring the policy. In June, CMS issued a proposed rule that would seek to include insulin pumps and continuous glucose monitors in a competitive bidding program. The rule would also change payments to a monthly rental schedule instead of a contract where the devices are paid for upfront. RBC Capital Markets analyst Shagun Singh expects Tandem and Medtronic to be impacted the most, 'as the new proposal would allow for competitive switching,' she wrote in a July 1 research note. Singh expects Insulet to see less of an impact as the company already uses a 'pay-as-you-go' model, and Dexcom's and Abbott's CGMs are already sold on a monthly bundle basis. Tandem CFO Leigh Vosseller said on an earnings call Wednesday that the company does not expect the changes to have a material impact on the company's business, and 'we anticipate it could help drive more people to pump therapy.' Currently, traditional Medicare makes up less than 10% of Tandem's sales. Vosseller said the payment change would shift pump reimbursement from a 13-month rental to a pay-as-you-go model. Tandem, which currently sells most of its pumps through a durable medical equipment model, plans to begin selling supplies for its t:slim X2 pump through the pharmacy channel starting in the fourth quarter. 'Transitioning to a pay-as-you-go model is something that we've contemplated anyway from a commercial perspective as we've pursued the pharmacy channel,' Vosseller said. She added that Tandem will be participating in the comment period and anticipates final rulings in November. Tandem lowered its earnings forecast for U.S. sales in 2025 to $700 million for the year, down from a previous range of $725 million to $730 million. CEO John Sheridan said the change was due to a new market entrant that has built a larger-than-expected sales team, and initiatives that are still in progress to modernize Tandem's systems and grow its salesforce. The company also disclosed a recall related to a speaker problem with its devices, which has been associated with 59 injuries. Tandem's stock price was down roughly 20% to $11.52 at market close Thursday. Insulet, Dexcom expect little impact Insulet expects little impact from the CMS changes. CEO Ashley McEvoy told investors Thursday that the company's devices are already sold on a pay-as-you-go basis, as the company does almost all of its sales through the pharmacy channel. Insulet's patch pumps are covered under Medicare Part D, which covers prescription drugs, and McEvoy doesn't think they will be eligible for competitive bidding under Part B, which covers durable medical equipment. 'We are going to continue to engage with CMS to really talk about the benefits of our differentiated Omnipod 5 technology and how we improve care for people with diabetes,' McEvoy said. Insulet raised its sales expectations for 2025, now anticipating growth of 24% to 27%, from a previous range of 19% to 22% Dexcom Chief Operating Officer Jake Leach also addressed the CMS competitive bidding proposal, saying about 15% of the company's business is fee-for-service Medicare. Leach, who will become CEO of Dexcom in January, said on an earnings call in July that 'we feel very comfortable about the value that we bring for the price of our product.' He added that Dexcom also wants to ensure there's not an interruption to care for people on Medicare as has happened in previous versions of competitive bidding. CFO Jereme Sylvain said he expects the bidding process to start no earlier than 2027, based on historical precedent. Recommended Reading Tandem insulin pump malfunction linked to 59 injuries Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
5 days ago
- Business
- Yahoo
Insulet beats second-quarter profit estimates on strong demand for insulin pumps
(Reuters) -Medical device maker Insulet beat Wall Street estimates for second-quarter profit and revenue on strong demand for its wearable insulin pumps, sending its shares up nearly 10% in premarket trading on Thursday. Insulet has been benefiting from the expanded approval for its automated insulin delivery device, Omnipod, which offers a convenient alternative to conventional pumps with external tubing by eliminating the need for multiple daily injections for people with insulin-dependent diabetes. Its Omnipod 5 device was cleared for use in both type 1 and type 2 diabetes patients last year. The company now expects its annual revenue to grow in the range of 24% to 27% from a year earlier, compared with its previous projection of 19% to 22%, betting on strong demand for Omnipod 5. The results suggest "Insulet's momentum is not only continuing, but accelerating", Baird analyst Jeff Johnson said. The company projects annual Omnipod revenue growth of 25% to 28%, up from a 20% to 23% growth forecast previously. Its Omnipod devices brought in sales of $639 million in the second quarter, above analysts' estimate of $606.15 million, according to data compiled by LSEG. On an adjusted basis, the company earned $1.17 per share, beating estimates of 93 cents. Total revenue jumped 33% to $649.1 million for the quarter ended June 30, compared with estimates of $612.22 million.
Business Insider
17-07-2025
- Business
- Business Insider
RBC Capital Remains a Buy on Insulet (PODD)
RBC Capital analyst Shagun Singh Chadha maintained a Buy rating on Insulet on July 15 and set a price target of $330.00. The company's shares closed yesterday at $288.27. Elevate Your Investing Strategy: Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence. Make smarter investment decisions with TipRanks' Smart Investor Picks, delivered to your inbox every week. According to TipRanks, Singh Chadha is an analyst with an average return of -1.0% and a 47.96% success rate. Singh Chadha covers the Healthcare sector, focusing on stocks such as Johnson & Johnson, Medtronic, and Boston Scientific. Currently, the analyst consensus on Insulet is a Strong Buy with an average price target of $340.84, representing a 18.24% upside. In a report released on July 14, BTIG also maintained a Buy rating on the stock with a $350.00 price target. Based on Insulet's latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $569 million and a net profit of $35.4 million. In comparison, last year the company earned a revenue of $441.7 million and had a net profit of $51.5 million Based on the recent corporate insider activity of 65 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of PODD in relation to earlier this year. Last month, LUCIANA BORIO, a Director at PODD sold 481.00 shares for a total of $147,056.13.
Yahoo
08-07-2025
- Business
- Yahoo
Insulet to Announce Second Quarter 2025 Financial Results on August 7, 2025
ACTON, Mass., July 08, 2025--(BUSINESS WIRE)--Insulet Corporation (NASDAQ: PODD) (Insulet or the Company), the global leader in tubeless insulin pump technology with its Omnipod® brand of products, today announced it will report financial results for the second quarter of 2025 on August 7, 2025, before the opening of the financial markets. In connection with the release, management will host a conference call that day at 8:00 a.m. (Eastern Time). The link to the live call will be available on the Investor Relations section of the Company's website at "Events and Presentations," and will be archived for future replay. You may also access the live call by dialing (888) 770-7129 for domestic callers, or (929) 203-2109 for international callers, passcode is 5904836. About Insulet Corporation: Insulet Corporation (NASDAQ: PODD), headquartered in Massachusetts, is an innovative medical device company dedicated to simplifying life for people with diabetes and other conditions through its Omnipod product platform. The Omnipod Insulin Management System provides a unique alternative to traditional insulin delivery methods. With its simple, wearable design, the tubeless disposable Pod provides up to three days of non-stop insulin delivery, without the need to see or handle a needle. Insulet's flagship innovation, the Omnipod 5 Automated Insulin Delivery System, integrates with a continuous glucose monitor to manage blood sugar with no multiple daily injections, zero fingersticks, and can be controlled by a compatible personal smartphone in the U.S. or by the Omnipod 5 Controller. Insulet also leverages the unique design of its Pod by tailoring its Omnipod technology platform for the delivery of non-insulin subcutaneous drugs across other therapeutic areas. For more information, visit: or ©2025 Insulet Corporation. Omnipod is a registered trademark of Insulet Corporation. All rights reserved. View source version on Contacts Investor Relations: June LazaroffSenior Director, Investor Relations(978) 600-7718jlazaroff@ Media: Angela Geryak WiczekSenior Director, Corporate Communications(978) 932-0611awiczek@ Sign in to access your portfolio
Business Wire
08-07-2025
- Business
- Business Wire
Insulet to Announce Second Quarter 2025 Financial Results on August 7, 2025
ACTON, Mass.--(BUSINESS WIRE)--Insulet Corporation (NASDAQ: PODD) (Insulet or the Company), the global leader in tubeless insulin pump technology with its Omnipod ® brand of products, today announced it will report financial results for the second quarter of 2025 on August 7, 2025, before the opening of the financial markets. In connection with the release, management will host a conference call that day at 8:00 a.m. (Eastern Time). The link to the live call will be available on the Investor Relations section of the Company's website at 'Events and Presentations,' and will be archived for future replay. You may also access the live call by dialing (888) 770-7129 for domestic callers, or (929) 203-2109 for international callers, passcode is 5904836. About Insulet Corporation: Insulet Corporation (NASDAQ: PODD), headquartered in Massachusetts, is an innovative medical device company dedicated to simplifying life for people with diabetes and other conditions through its Omnipod product platform. The Omnipod Insulin Management System provides a unique alternative to traditional insulin delivery methods. With its simple, wearable design, the tubeless disposable Pod provides up to three days of non-stop insulin delivery, without the need to see or handle a needle. Insulet's flagship innovation, the Omnipod 5 Automated Insulin Delivery System, integrates with a continuous glucose monitor to manage blood sugar with no multiple daily injections, zero fingersticks, and can be controlled by a compatible personal smartphone in the U.S. or by the Omnipod 5 Controller. Insulet also leverages the unique design of its Pod by tailoring its Omnipod technology platform for the delivery of non-insulin subcutaneous drugs across other therapeutic areas. For more information, visit: or ©2025 Insulet Corporation. Omnipod is a registered trademark of Insulet Corporation. All rights reserved.
