Why Insulet Stock Was Zooming Higher This Week
Specialty device maker (NASDAQ: PODD) had some good news to impart to the world early this week, and investors jumped on the stock as a result. As the market started to prepare for its weekend early Friday, Insulet's share price had risen by almost 11% week to date, according to data compiled by S&P Global Market Intelligence.
Insulet specializes in insulin pumps, and on Monday it formally announced its latest offering in the category had received Food and Drug Administration (FDA) approval for a new indication. This product is the latest iteration of its Omnipod line, the Omnipod 5 Automated Insulin Delivery (AID) System. The FDA approved Omnipod 5 for type 2 diabetes patients 18 years of age and older.
The device had previously been approved for type 1 diabetes. Insulet said that the latest regulatory nod makes Omnipod 5 the only AID to carry FDA approval for both types.
Source Fool.com
Insulet Corp. Stock
Insulet Corp. is currently one of the favorites of our community with 16 Buy predictions and no Sell predictions.
With a target price of 215 € there is a slightly positive potential of 17.23% for Insulet Corp. compared to the current price of 183.4 €.
