Insulet Corp. · PODD · FY2026 Q2 · Calendar Q3 2026

Insulet sustains growth as type 2 retention weighs on U.S. outlook

The quarter supports a durable demand case for Omnipod, with continued growth, margin expansion and international momentum. The main constraint is whether management can improve type 2 retention and execute its commercial initiatives enough to restore the U.S. trajectory.

Reported Before market openNASDAQHealthcare $9.73B market cap
100quality score

Earnings scorecard

Reported versus consensus
Reported EPS $1.66 Consensus $1.47
EPS surprise +12.9% Reported versus consensus
Reported revenue $801.7M Consensus $787.4M
Revenue surprise +1.8% Reported versus consensus

Market reaction

prior-close to event-session close
Stock move -20.1% Event window
SPY move -0.2% Same window
Abnormal move -19.9% Stock minus SPY
Volume 5.5× Versus trailing sessions
Subsequent drift +11.2% Up to 20 sessions
PODDSPY benchmark

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Why did PODD fall 20.1% after beating EPS estimates in FY2026 Q2?What changed in PODD's guidance and outlook in FY2026 Q2?Give me the bull and bear case for PODD after FY2026 Q2 earnings.

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Transcript intelligence

What changed

The central change was a more cautious U.S. outlook tied to type 2 retention and utilization, alongside a higher international growth outlook. Management added commercial and customer-support initiatives and continued to point to Omnipod 6 and a fully closed-loop system as future growth programs.

Guidance delta

Overall guidance was maintained; the U.S. revenue outlook was lowered while the international growth outlook was raised.

Key takeaways

  • Management reported continued Omnipod demand and margin expansion.
  • Type 2 retention and utilization challenges led to a lower U.S. revenue outlook.
  • International growth expectations were raised, supported by expansion and demand.
  • Customer care, sales compensation and Omnipod Discover are intended to improve onboarding and retention.
  • Omnipod 6 and a fully closed-loop system remain important pipeline milestones.

Management priorities

  • Improve type 2 onboarding, retention and utilization
  • Expand customer care and refine sales compensation
  • Scale Omnipod Discover and customer engagement tools
  • Expand international markets and sales coverage
  • Increase manufacturing capacity

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Earnings History

Estimate Beat Miss Match
PODD EPS earnings history estimate and actual scatter chart 9 reported fiscal quarters and 3 future estimate-only quarters. Q4 '23 estimate $0.66 Q4 '23 actual $1.40, beat Q1 '24 estimate $0.39 Q1 '24 actual $0.73, beat Q2 '24 estimate $0.56 Q2 '24 actual $0.55, miss Q3 '24 estimate $0.76 Q3 '24 actual $0.90, beat Q2 '25 estimate $0.92 Q2 '25 actual $1.17, beat Q3 '25 estimate $1.14 Q3 '25 actual $1.24, beat Q4 '25 estimate $1.47 Q4 '25 actual $1.55, beat Q1 '26 estimate $1.19 Q1 '26 actual $1.42, beat Q2 '26 estimate $1.47 Q2 '26 actual $1.66, beat Q3 '26 estimate $1.59 Q4 '26 estimate $1.97 Q1 '27 estimate $1.63
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Analyst Consensus ?

ConsensusHold50 ratings
Bullish2856.0%
Neutral1938.0%
Bearish36.0%

Analyst 52W Price Targets

$139.5Current
$144Low
$250.38Average
$450High

Latest persisted target per named analyst; persisted current price from FN2's market snapshot as of Sep 22, 2026. Not an FN2 forecast.

Firm-level rating actions

FMP grade actions identify the grading firm, not a named analyst.

FirmRatingPrior ratingActionDate
Wells Fargo Equal Weight OverweightDowngradeAug 6, 2026
UBS Neutral NeutralMaintainAug 6, 2026
Truist Securities Hold BuyDowngradeAug 6, 2026
TD Cowen Hold HoldMaintainAug 6, 2026
Stifel Buy BuyMaintainAug 6, 2026
Show 45 more rating actions

Named analyst price targets

Upside is calculated against the persisted current price $139.5. FMP does not supply a rating on these named-analyst rows.

FirmAnalyst52W targetPrice when postedUpsideDate
Robert W. BairdJeff Johnson$175$134.95 +25.4%Aug 6, 2026
BernsteinAnalyst unavailable$175$131.75 +25.4%Aug 6, 2026
Leerink PartnersMike Kratky$145$133.26 +3.9%Aug 6, 2026
RBC CapitalAnalyst unavailable$160$133.26 +14.7%Aug 6, 2026
Raymond JamesJayson Bedford$180$133.26 +29.0%Aug 6, 2026
See 76 more

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Company context

Snapshot as of publication

Insulet Corporation develops, manufactures, and sells insulin delivery systems for people with insulin-dependent diabetes in the United States and internationally. The company offers Omnipod platform products comprising Omnipod 5 automated insulin delivery system, which includes a proprietary AID algorithm embedded in the pod that integrates with a third-party continuous glucose monitor to obtain glucose values through wireless Bluetooth communication; Omnipod DASH insulin management system that features a Bluetooth enabled pod that is controlled by a smartphone-like personal diabetes manager with a color touch screen user interface; and the Omnipod Insulin Management System. It also provides pods for Amgen for use in the Neulasta Onpro kit, which is a delivery system to help reduce the risk of infection after intense chemotherapy. The company sells its products to end-users through the pharmacy channel; and independent distributors. Insulet Corporation was incorporated in 2000 and is headquartered in Acton, Massachusetts.

Historical context

All PODD earnings
-9.7%FY2026 Q1 · Calendar Q2 2026

Healthcare peers this season

Latest reports in the same sector
CompanyQuarterEPS surpriseMarket moveHeadline
COO The Cooper Companies, Inc. FY2026 Q3 · Calendar Q3 2026 +2.7% -14.7% CooperCompanies beats expectations as inventory reduction weighs on vision revenue
MDT Medtronic plc FY2027 Q1 · Calendar Q3 2026 +4.3% +1.5% Medtronic raises FY27 outlook as growth broadens across platforms
A Agilent Technologies, Inc. FY2026 Q3 · Calendar Q3 2026 +8.7% +1.7% Agilent raises outlook after Q3 beat; Ignite drives margin gains

Latest beats and misses

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Sources

  1. Earnings call transcript and parsed analysis · 2026-08-05T20:15:13.128460+00:00
  2. FN2 earnings calendar · 2026-09-10T01:23:13.706414+00:00
  3. Polygon adjusted daily market bars · 2026-09-22T17:00:55.832315+00:00
  4. Financial Modeling Prep analyst price-target consensus and quote snapshot · 2026-09-22T17:00:55.829570+00:00

Methodology

Reported and consensus figures come from FN2's earnings event records. Market reaction and volume are calculated from daily adjusted bars around the event; abnormal move subtracts the SPY move over the same window.

Analyst target low, average, and high values are derived at request time from each named analyst's latest persisted FMP target. The current-price marker comes from FN2's persisted market snapshot. They are sell-side estimates, not an FN2 valuation or recommendation.

Transcript intelligence is a structured synthesis of the current and prior earnings-call analyses. Missing values stay missing and are never estimated.

By FN2 Research · Updated · As of 2026-09-22. For educational purposes only; not investment advice.