On May 28, Insulet declined 6.74% in regular trading, trading at $143.09/share, with trading volume of $159 million.

On the news front, the company announced a voluntary medical device correction for certain Omnipod 5, Omnipod DASH, and Omnipod insulin management system pods in the U.S. and affected international markets due to a manufacturing defect. The issue, identified during product monitoring, involves a potential tear in pod tubing that could result in insulin under-delivery and, in severe cases, diabetic ketoacidosis.

Insulet disclosed it expects to incur up to $50 million in costs related to the correction, though these charges will be excluded from adjusted results. The company reaffirmed its full-year guidance. Separately, Goldman Sachs lowered its price target on Insulet from $237 to $205 while maintaining a buy rating. The consensus mean price target stands at $242.79 with an overweight average rating.

Within the Health Care Equipment sector, the broader group traded lower. Among individual stocks, Boston Scientific down 11.94%, Intuitive Surgical down 4.41%, Stryker down 3.41%, Medtronic down 2.06%, Abbott Laboratories down 1.71%.

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