| Factor | Score | Distribution | Value | Avg | Rank |
|---|---|---|---|---|---|
Valuation | 42 | 24.6x | 17.8x | Around median | |
Growth | 92 | 29.4% | 7.1% | Top tier | |
Quality | 85 | 14.9% | 4.5% | Top tier | |
Safety | 76 | 0.8x | 2.6x | Top tier | |
Capital Return | 78 | — | 2.12% | Top tier | |
Momentum | 2 | -58.3% | 2.9% | Bottom tier | |
Sentiment | 84 | 14 | 3 | Top tier |
Estimates — analyst targets and a simplified DCF, not investment advice.
Ten ratios that matter, each compared against its sector median and average — so you can see whether a number is rich or cheap relative to peers in the same sector.
Insulet develops and markets tubeless automated insulin delivery systems under the Omnipod brand, and its economic model is based on enrolling new users and then generating recurring revenue from their continued therapy and use of Pods. Omnipod serves patients with both type 1 and type 2 diabetes, and the company invests in algorithms, clinical and commercial support, and manufacturing to expand adoption of automated insulin therapy. In Q2 fiscal year 2026, more than 85% of new users in the United States came from multiple daily injections, type 2 patients accounted for more than 40% of new users, and the global user base grew 23%.
Insulet recorded revenue of $801.7 million, gross profit of $562.6 million, net income of $95.0 million, and GAAP diluted earnings per share of $1.37 in Q2 fiscal year 2026. This equates to a GAAP gross margin of approximately 70.2% and a net income margin of approximately 11.9%. Compared with Q1 fiscal year 2026, revenue increased from $761.7 million, net income rose from $91.1 million, and earnings per share increased from $1.30.
Revenue growth in Q2 fiscal year 2026 was approximately 23.5% on a reported basis and 22.7% at constant currency. Omnipod grew 20% in the United States, while international growth exceeded 35% on a reported basis and was 33% at constant currency, demonstrating that the international business grew the fastest. On an adjusted basis, gross margin was 72.9%, up 320 basis points, operating margin was 19.3%, up 140 basis points, and earnings per share were $1.66, up 41.5% year over year; these adjusted figures differ from the GAAP figures mentioned above.
The analyst consensus is “Buy,” with an average price target of $185.18 and a wide range of $144 to $235; the average is approximately 47.8% below the 52-week high of $354.88, while the highest target is approximately 33.8% below that high. A 2026-08-05 report cited a price-to-earnings ratio of 31.3 times and a price-to-sales ratio of 3.22 times following a repricing associated with the reduction in the fiscal year 2026 growth forecast, so the consensus reflects a potential recovery opportunity but does not eliminate the risks of a U.S. slowdown and weak type 2 patient retention.
Figures in the text are as of 2026-08-29; the live price is shown at the top of the page.
On 2026-08-05, management lowered its total revenue growth forecast to 20%–22% at constant currency and its U.S. Omnipod growth forecast to 17%–19%. The revision primarily followed weaker-than-expected retention of type 2 patients during the first 90 days of Omnipod use, along with a slight decline in utilization. Management estimated that the assumption of continued retention and utilization trends accounted for approximately two-thirds of the guidance reduction, while the remaining third reflected slower user starts at the beginning of fiscal year 2026 and a lower-than-expected positive pricing impact. Conversely, the company raised its international Omnipod growth forecast to 30%–32%.
Management said during the 2026-08-05 call that retention variability was greater than utilization weakness and that the problem was concentrated in the first 90 days of therapy. Type 2 patients accounted for more than 40% of new users in Q2 fiscal year 2026, so continued early attrition could affect the recurring revenue model. The company explained that retention rates stabilize among those who progress beyond the first 90 days, but it did not provide a detailed numerical retention rate. Insulet is expanding customer support, adjusting sales incentives, and improving the sampling program to address initial points of friction.
Automated analysis for informational purposes only — not investment advice.
Insulet plans to launch Omnipod 6 in 2027 after presenting data from the STRIVE study, which showed improved time in range for patients with type 1 and type 2 diabetes while maintaining Omnipod 5's safety profile. It also expects to submit a 510(k) application in 2027 for the fully closed-loop system for type 2 diabetes, a system designed to operate without meal boluses, settings, or manual calibration. Omnipod Discover supports this path with a base exceeding 12 thousand users and 1,600 healthcare professionals as of 2026-08-05. However, the preliminary 2027 outlook assumed no improvement from retention initiatives and instead assumed new competitor entry and stable pricing.
Omnipod grew 33% internationally at constant currency in Q2 fiscal year 2026, compared with 20% growth in the United States. Management raised its international growth forecast for fiscal year 2026 to 30%–32%, while lowering the U.S. forecast to 17%–19%. Omnipod 5 became the number one pump for new users in Australia, and the company entered Spain during the same period. However, the U.S. market remains the focus of the type 2 patient retention problem, so international strength alone is insufficient to eliminate the risk of slower total revenue growth.
Q2 fiscal year 2026 revenue was approximately $801.7 million and GAAP net income was $95.0 million, with a gross margin of approximately 70.2%. On an adjusted basis, gross margin reached 72.9%, operating margin reached 19.3%, and earnings per share increased 41.5% to $1.66. The company generated $145 million in free cash flow since the beginning of fiscal year 2026 and ended the quarter with $535 million in cash and investments. Management expects operating margin to expand by approximately 100 basis points and adjusted earnings per share to grow by at least 30% in fiscal year 2026, with free cash flow declining slightly from fiscal year 2025 because of medical device corrections and manufacturing expansion.
The consensus rates PODD as “Buy,” with an average target of $185.18 and targets ranging from $144 to $235. The $91 difference between the lowest and highest targets reflects meaningful variation in estimates of the pace of growth recovery and type 2 patient retention. The average target is approximately 47.8% below the 52-week high of $354.88, illustrating the scale of the repricing that followed the reduction in the fiscal year 2026 forecast. The price-to-earnings ratio of 31.3 times cited in the 2026-08-05 report also keeps the valuation sensitive to the achievement of growth and margin expectations.
