Insulet rises after co names new CEO, signals improved rev outlook
28/04/2025 16:00
** Insulet's PODD.O shares up 1% to $263.34 on Mon after medical device maker announces C-suite change and provides bullish 2025 rev outlook ** Acton, Massachusetts-based firm early Mon said Ashley McEvoy appointed as CEO and board member, effective immediately ** Former CEO Jim Hollingshead agreed to cease his employment and entered into consulting arrangement to facilitate a smooth transition, co said ** McEvoy was previously exec VP and global chair of Johnson & Johnson's JNJ.N medtech business ** Co also said expects to surpass prior Q1 rev forecast and plans to raise full-year guidance ** BTIG reiterated its 'buy' rating on PODD ($310 PT), saying McEvoy is highly qualified and well-suited for the CEO role given her extensive experience in both the medtech and diabetes care sectors ** In Feb, co posted Q4 top line beat driven by strong demand for its Omnipod insulin pumps, and forecasted current-qtr rev to grow 22%-25% y/y and for 2025 rev to increase 16%-20% from 2024 figure of $2.1 bln ** Co slated to release Q1 results on May 8, after market close. In light of CEO transition, co postponed previously planned Jun 5 investor day event and intends to reschedule ** Including move on the session, PODD shares up ~1% YTD. Stock was trading around $170 a year ago (Lance Tupper is a Reuters market analyst. The views expressed are his own) ((lance.tupper@tr.com 1-646-279-6380))