Insulet (Nasdaq:PODD) shares ticked up after market close on fourth-quarter results that came in well ahead of the consensus forecast.
Shares of PODD rose 4.5% to $311 apiece after trading ceased for the day. MassDevice’s MedTech 100 Index — which includes stocks of the world’s largest medical device companies — finished the day up 9%.
The Acton, Massachusetts-based automated insulin technology developer posted profits of $17 million. That amounts to 24¢ per share on sales of $369.7 million for the three months ended Dec. 31, 2022.
Insulet recorded a 41.8% bottom-line slide despite sales growth of 20.1%. Its global Omnipod revenues — including the latest-generation Omnipod 5 — totaled $366.4 million for the quarter. That marks 32.8% year-over-year growth. Omnipod growth for the full year came in at 23.4%, reaching $1.2 billion in sales.
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