Shares of Insulet Corporation (PODD) are moving down about 3 percent on Friday trading following its announcement to initiate a voluntary Medical Device Correction for specific lots of Omnipod 5 Pods after identifying a manufacturing issue through its ongoing product monitoring.
The company's stock is currently trading at $227.53, down 3.62 percent or $8.54, over the previous close of $236.07 on the Nasdaq. It has traded between $220.28 and $354.88 in the past one year.
Insulet identified that certain Pods from specific lots may have a small tear in the internal tubing that delivers insulin. If this occurs, insulin may leak inside the Pod instead of being fully infused into the body as intended, which could trigger high blood glucose levels in users.
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