** Medical device maker Insulet's PODD.O shares rise 10.2% to $283.20 premarket

** Insulet late on Thursday beat Q1 profit estimates, buoyed by strong demand for its wearable insulin pumps

** Company earned $1.02 per share, above analysts' average estimate of 80 cents per share - data compiled by LSEG

** Company now expects its annual revenue to grow between 19% and 22%, compared with its previous projection of 16% to 20%

** Company's Q1 total revenue increased 28.8% to $569 million, compared with analysts' estimates of $543.4 million

** As of last close, stock down 1.6% YTD

(Reporting by Siddhi Mahatole)

((siddhi.mahatole@thomsonreuters.com))