Insulet Corporation (PODD) shares plummeted 5.11% in Thursday's pre-market trading, despite the company reporting better-than-expected third-quarter results and raising its full-year guidance. The medical device maker, known for its wearable insulin pumps, posted strong financial performance that surpassed Wall Street's expectations.

For the third quarter, Insulet reported adjusted earnings of $1.24 per share, beating the analyst consensus estimate of $1.14. This represents a 37.78% increase from $0.90 per share in the same period last year. The company's quarterly revenue jumped 29.9% year-over-year to $706.3 million, exceeding analysts' expectations of $676.73 million. The robust performance was driven by strong demand for Insulet's Omnipod wearable insulin pumps, which eliminate the need for daily injections.

Despite the positive results, investors appear to be reacting negatively, possibly due to concerns about valuation or future growth prospects. The company raised its full-year 2025 revenue growth guidance to 28-29%, up from the previous forecast of 24-27%. However, the market's reaction suggests that some investors may have been expecting even stronger guidance or are worried about the sustainability of the company's growth rate. As the trading day progresses, it remains to be seen whether this pre-market drop will persist or if investors will reassess the company's strong fundamentals.