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June 30, 2014
07:43 EDTPODD, BDXInsulet enters settlement and license agreement with Becton Dickinson
Insulet disclosed in a regulatory filing Friday night that on June 23 the company entered into a settlement and license agreement with Becton, Dickinson and Company (BDX) to settle the pending patent infringement lawsuit brought by BD against the company. In exchange for a release of claims, covenant not to sue and license to the patents in suit from BD, the settlement agreement provides that the company will make a one-time payment of $5M to BD and give BD a license to a single company patent relating to an environmental seal for a fluid delivery device. In addition to the settlement payment, it is expected that the company’s legal and other expenses associated with the lawsuit will be up to approximately $2.0M in the second quarter. Following the company’s payment of the settlement payment, the parties will promptly move to dismiss the pending lawsuit by BD, Insulet noted.
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September 17, 2014
09:31 EDTPODDInsulet management change suggests takeout unlikely, says Canaccord
Canaccord noted the recent management changes at Insulet and said it suggests it is unlikely an acquisition or takeout of the company is on the horizon. The firm is encouraged by the company's reiteration of guidance and keeps its Buy rating and $39 price target on the stock.
05:49 EDTPODDInsulet CEO change a normal transition, says Piper Jaffray
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September 16, 2014
16:41 EDTPODDInsulet reaffirms FY14 revenue view $290M-$300M, consensus $297.57M
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16:40 EDTPODDInsulet reaffirms Q3 revenue view $73M-$77M, consensus $75.30M
Company expects to record a charge of approximately $8M to $10M in the Q3 to compensation expense, primarily related to the non-cash acceleration of certain equity awards and an additional charge of approximately $3M in the Q4, primarily related to non-cash stock based compensation expense.
16:32 EDTPODDInsulet appoints Patrick Sullivan as CEO
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