Insulet: Takeaways from our meetings with PODD CEO, CFO and IR

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Insulet: Takeaways from our meetings with PODD CEO, CFO and IR

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Insulet

Takeaways from our meetings with PODD

CEO, CFO and IR

Maintain Rating: BUY | PO: 208.00 USD | Price: 138.97 USD

Meetings with CEO, CFO, and IR; all key topics discussed 23 June 2026

We hosted PODD CEO Ashley McEvoy, CFO Flavia Pease and IR Clare Trachtman for Equity

investor meetings on Monday. The discussion focused on upcoming innovation, T2 and

market opportunity, 20% CAGR LRP, recent field action/manufacturing, salesforce Travis Steed Research Analyst

expansion, and margin opportunities (full details inside note). PODD believes its stock BofAS

price is not reflecting its growth outlook (PODD bought back $300m stock in Q1). +1travis.steed@bofa.com404 607 3251

20% CAGR comments not meant to guide 2027 growth StephanieResearch AnalystElghazi

At our Vegas conference, PODD clarified its 20% LRP is a CAGR (see Vegas takes). PODD BofAS+1 646 855 4568

says this was not intended to suggest thoughts on 2027 growth or even say 2028 will stephanie.elghazi@bofa.com

accelerate. PODD was just clarifying the 20% is a CAGR and the first year of the CAGR is Gracia Mahoney

Research Analyst

above the 20% so math suggests there could be a year that is lower (PODD isn’t giving BofAS

guidance this early). But its goal remains to outperform guidance. There is compelling +1 646 855 1136

gracia.mahoney@bofa.com

innovation in 2026, 2027 and 2028 which will drive growth. The innovation this year and

Enjia Cao

the salesforce ramp builds 2027 new customer starts. OP6 next year will build 2028 and Research Analyst

FCL in 2028 will build 2029. PODD is confident in the 20% CAGR given market BofAS +1 646 743 9861

opportunities over the next 10 years. PODD seems confident the market will expand.