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
With 60 Buy predictions and 1 Sell predictions Insulet Corp. is one of the favorites of our community.
Based on the current price of 143.45 € the target price of 305 € shows a potential of 112.62% for Insulet Corp. which would more than double the current price.
