Theragenics' recent rhetoric about the medical device tax captures many of the repeal movement's high points: layoffs, restructuring and the myth of a medtech windfall contained in healthcare reform.
Investors sent Medtronic shares to a 52-week high yesterday after the world's largest medical device company reported earnings ahead of Wall Street's expectations.
Medtronic (NYSE:MDT) shares peaked at a 52-week high yesterday after the world's largest pure-play medical device company reported Wall Street-topping earnings per share for its fiscal 4th quarter and 2013.
Medtronic's fiscal 4th-quarter and 2013 profits slide on low-single-digit revenue growth, but the medical device company still beats Wall Street's earnings expectations.
Medtronic (NYSE:MDT) reported its fiscal 4th quarter and 2013 results this morning, posting profit declines for both periods on slight sales growth and beating Wall Street's expectations for earnings per share.
Covidien restates its financial results for its fiscal 2nd quarter ahead of the spinout of its Mallinckrodt pharmaceuticals business, expected next month.
Covidien (NYSE:COV) re-stated its financial results for the fiscal 3rd quarter ended March 29, in anticipation of the planned spinout of its Mallinckrodt pharmaceuticals business next month.
Covidien said the new numbers reflect the pharma unit as a discontinued operation, with COV shareholders slated to receive a tax-free distribution, according to a regulatory filing.
Natus Medical beats Wall Street's earnings forecast with a 1,000-fold profit surge on record sales, prompting the medical device company to raise its earnings forecast for the rest of the year.
Natus Medical (NSDQ:BABY) reported a 1,000% increase in profits during the 1st quarter, handily beating Wall Street's earnings-per-share forecast in the process.
The European Union's 2nd-largest medical device market dips into recession during the 1st 3 months of 2013, meaning more bad news as Europe's economy continues to worsen.
Bad news out of the EuroZone this week as more of the top economies across the pond slipped into a recession, including the European Union's 2nd-largest market for medical devices.
Eurostat, the statistical office of the European Union, said yesterday that the gross domestic product of the 17-nation alliance contracted 0.2% during the first 3 months of 2013 compared to the previous quarter and 1% compared to the same period last year.
A list of some of the tax tabs for medical device companies for the medical device excise tax during Q1
In January 2013, Medical device companies began paying a 2.3% excise tax on U.S. Sales in order to pay for the Patient Protection and Affordable Care Act.
The levy is expected to generate some $30 billion over the next 10 years.
MassDevice.com is tracking the tally paid by several medical device companies, based on quarterly earnings report for the first quarter of 2013. We will update the list as more companies returns file in.
Tallies based on companies with Q1 earnings ended on March 31, 2013