Insulet names Eric Benjamin as chief operating officer

ACTON, Mass. - Insulet Corporation (NASDAQ:PODD), a developer of tubeless insulin pump technology with a market capitalization of $23.14 billion and an impressive 79% return over the past year, announced Monday the appointment of Eric Benjamin as Chief Operating Officer, effective immediately. According to InvestingPro data, the company is currently trading near its Fair Value, suggesting balanced market expectations.

In his expanded role, Benjamin will lead the company’s growth and innovation strategy, overseeing new products, market expansion, and commercial development. He will be responsible for Strategy & Business Development, the Office of the Chief Technology Officer, Research & Development, and a newly-created Growth organization.

Benjamin, who joined Insulet in 2015, has held progressive leadership roles at the company. His previous contributions include strengthening supply chain operations, launching Omnipod DASH and Omnipod 5 products, expanding into the type 2 diabetes market, and improving customer engagement through digital initiatives.

The company also appointed Manoj Raghunandanan as Chief Growth Officer. Raghunandanan brings over 20 years of consumer health leadership experience from Kenvue (formerly Johnson & Johnson Consumer Health), where he most recently served as general manager of their Northern European business.

Raghunandanan will lead Insulet’s new Growth organization, developing global strategy, overseeing demand generation, and managing brand and customer experience to accelerate the company’s global expansion plans.

"Eric has been a driving force in Insulet’s success," said Ashley McEvoy, President and CEO, according to the company’s press release.

Insulet Corporation, headquartered in Massachusetts, specializes in tubeless insulin delivery systems through its Omnipod product platform, which provides up to three days of continuous insulin delivery without needles. With 14 analysts recently revising earnings expectations upward and maintaining strong growth projections, the company shows promising momentum. For deeper insights into Insulet’s financial health and growth prospects, including exclusive ProTips and comprehensive analysis, check out the detailed Pro Research Report available on InvestingPro.

In other recent news, Insulet Corporation has reported a strong second-quarter performance, significantly exceeding market expectations. The company achieved sales of $649.1 million, marking a 31% growth excluding foreign exchange effects, surpassing the consensus estimate of $614 million. Additionally, Insulet’s revenue and earnings per share beat expectations by 6% and 27%, respectively. Following these results, several firms have raised their price targets for Insulet. RBC Capital increased its target to $350, maintaining an Outperform rating, while Canaccord Genuity raised its target to $353, also maintaining a Buy rating. Jefferies lifted its price target to $375, citing strong Q2 results. Bernstein SocGen Group set an even higher target of $400, noting Insulet’s consistent growth, particularly in the Type 2 diabetes market. Barclays also adjusted its sales forecast upward, raising the price target to $300, aligning with management’s updated outlook. These developments underscore Insulet’s robust financial performance and growth trajectory.

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