Insulet falls after flagging defect in some insulin pods
BUZZ-Insulet falls after flagging defect in some insulin pods Updates
** Shares of medical device maker Insulet PODD.O fall 7.8% to $141.72
** Co late on Tuesday said it is carrying out a voluntary correction of certain insulin pump pods after identifying a manufacturing issue
** Co said it does not expect supply disruptions and sees up to $50 million in related costs this year
** The action affects specific lots of its Omnipod product lines, representing about 8.5% of global pod production in 2025
** Brokerage BTIG lowers PT to $235 from $260, says "this reduced multiple reflects continued negative investor sentiment and what we perceive to be some risk of reputation damage or increased regulatory scrutiny from this second voluntary MDC"
** "While the issue appears contained, we would not be surprised to see this raise broader questions regarding PODD's quality function" - Barclays
** Including session moves, stock down 45.9% YTD
(Reporting by Sneha S K)