New Insulet CEO Ashley McEvoy set out her priorities for the diabetes technology company on Thursday.
“Insulet is already a standout success story,” McEvoy told investors during her first call after taking on the role, adding that the firm is one of the fastest-growing businesses in medtech. “Now is the time to envision what it will take to expand from a medtech platform with emerging global strength to a durable world leader in diabetes management.”
McEvoy was named chief executive in late April, with the goal of helping the insulin pump maker prepare for its next phase of growth. Previously, she led Johnson & Johnson’s medtech business unit, and has more than 15 years of leadership experience in the medical device sector.
McEvoy said Insulet sits at the intersection of consumer health and medtech.
“I have a deep appreciation for the consumer’s increasing role in healthcare decisions and understanding that is especially relevant to a wearable technology like Omnipod,” McEvoy said.
Her goals for Insulet include continued growth within the Type 1 diabetes market, expanding into the new Type 2 indication and advancing globalization. Insulet received an expanded indication last year to use its Omnipod 5 pump as part of an automated insulin delivery system for people with Type 2 diabetes.
“Overall, we think new CEO Ashley McEvoy did a good job communicating priorities on the call, and we expect her to maintain the same focus on strong revenue growth as well as margins/free cash flow as her predecessor,” J.P. Morgan analyst Robbie Marcus wrote in a research note on Thursday.
Insulet raised its forecast for total revenue growth to a range of 19% to 22% in 2025, and raised its gross margin forecast by half a percentage point, despite the impact of tariffs. The company’s stock was up by more than 20% on Friday.
CFO Ana Maria Chadwick told investors that Insulet’s gross margin expectations include an impact from tariffs, mostly related to production from China, but the company expects to be able to more than offset it. The company currently has manufacturing sites in the U.S., China and Malaysia, and supports the majority of its U.S. sales through its site in Acton, Massachusetts.
