Is Insulet Corporation Stock Halal?
Table of Contents
How much of Insulet Corporation’s revenue comes from haram?
Insulet Corporation develops insulin delivery devices and systems for individuals with insulin-dependent diabetes.
The company earns its revenue primarily from selling its Omnipod System, a small, self-adhesive, disposable tubeless device that the user fills with insulin and wears directly on the body.
In addition, Insulet offers a Personal Diabetes Manager device that programs the Omnipod System with the user’s personalized insulin-delivery instructions.
Practical Islamic Finance concludes:
None of Insulet Corporation’s revenue comes from anything inherently haram.
Does Insulet Corporation rely on interest to operate?
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What is Insulet Corporation’s Environmental, Social, and Governance (ESG) impact?
Environment
In 2019, Insulet began installing solar panels on its Acton, Massachusetts manufacturing facility to help reduce its energy costs and carbon footprint.
In addition, in France, Insulet funds collection and recycling programs for its Omnipod devices where they are collected, disassembled, and recycled.
Social
Insulet Corporation has a Glassdoor rating of 3.4 out of 5.0 from over 250 current and previous employees compared to a 3.3 average for all other Glassdoor rated companies.
Governance
No notable governance highlights
Practical Islamic Finance concludes:
Insulet Corporation has a net positive ESG impact.
Comfort Rating
From Insulet Corporation’s business, financial, and ESG reviews, Practical Islamic Finance rates Insulet Corporation stock as:
Uncomfortable to invest in from a Halal perspective.
Justification for our rating
Insulet’s consistent elevated use of interest to run its operations suggests a systemic reliance on interest. This causes Practical Islamic Finance to be uncomfortable investing in the company from a Halal perspective.