Lauren Budden, Group Vice President, Chief Accounting Officer, and Controller at Insulet Corp (NASDAQ:PODD), a $19.2 billion medical device company that has seen its stock surge 43% over the past six months, recently sold a portion of her holdings in the company. According to a recent SEC filing, Budden sold 915 shares of Insulet common stock on December 10, 2024, at a price of $275.62 per share. The total value of the transaction amounted to $252,192.
Following this sale, Budden retains ownership of 5,733 shares of Insulet stock. This figure includes 39 shares acquired under the Insulet Corporation Employee Stock Purchase Plan on November 29, 2024.
In other recent news, Insulet Corporation has been awarded $452 million in damages in a trade secret lawsuit. The verdict came after a jury found EOFlow Co., Ltd. and several other defendants had misappropriated trade secrets belonging to Insulet. The company's commitment to protecting its intellectual property has contributed to a 27.4% revenue growth over the last twelve months.
In addition, Insulet Corporation reported robust Q3 results, surpassing $2 billion in full-year revenue for the first time. This led Barclays (LON:BARC) to raise its price target for Insulet, maintaining an Equal-weight rating. However, the analyst noted potential competition from TNDM and MDT in late 2025 and 2026.
Furthermore, Insulet's Omnipod 5 received FDA clearance for type 2 diabetes, opening a significant new market segment. The company is expanding its sales force to target this new market, and anticipates 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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