Benjamin Eric, Executive Vice President of Insulet Corp (NASDAQ:PODD), a medical device company with an $18.5 billion market capitalization, recently sold 4,362 shares of the company's common stock. According to InvestingPro data, the stock is trading near its 52-week high of $279.77, with strong financial health metrics. The shares were sold at an average price of $267.60 each, amounting to a total transaction value of approximately $1.17 million. Following this sale, Eric owns 18,702 shares directly. This figure includes 130 shares acquired earlier in the year through the Insulet Corporation Employee Stock Purchase Plan. The company has demonstrated impressive performance with a 33.8% price return over the past six months. For deeper insights into insider trading patterns and comprehensive analysis, InvestingPro subscribers can access the detailed Pro Research Report, one of 1,400+ available for top US stocks.
In other recent news, Insulet Corporation has been awarded $452 million in damages in a trade secret lawsuit against EOFlow Co., Ltd. This includes $170 million in compensatory damages and an additional $282 million in exemplary damages. The company has also reported a substantial increase in sales, primarily from its international segment and drug delivery business, leading to Barclays (LON:BARC) raising its price target for Insulet.
Insulet is preparing for the commercial launch of its T2 insulin pump, which is expected to gain significant market traction. However, Barclays analysts foresee potential competition with similar T2 pumps from competitors TNDM and MDT in late 2025 and 2026.
In other developments, Insulet has surpassed $2 billion in full-year revenue for the first time, with a 26% increase in total Omnipod revenue. The FDA has also cleared the Omnipod 5 for type 2 diabetes, and the company is expanding its sales force in anticipation of capturing over 40% of the insulin-intensive market by 2025. For the fourth quarter, Insulet projects total Omnipod revenue growth to be between 13% to 16% and total company growth to be between 12% to 15%.
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