Edwards Lifesciences (NYSE:EW) revised its books based on new tax rules on repatriating foreign profits that went into effect last year, leading to a swing to losses for the fourth quarter and modest growth for the full year. The charges, amounting to a $326.7 million Q4 charge and $451.3 million for 2017, left the replacement heart […]
MassDevice Earnings Roundup
Smith & Nephew looks to $160m cost-cutting as 2017 earnings top estimates
Perhaps seeking to stave off a hedge fund’s carveout push, Smith & Nephew (NYSE:SNN) today revealed a cost-cutting program it hopes will pare $160 million from its annual operating budget and posted 2017 results that beat earnings expectations. Last year Elliott Management took out a stake in the British orthopedic and wound care firm, leading to […]
Sales for Sanofi’s U.S. diabetes biz fall -30% in Q4
Shares in Sanofi (NYSE:SNY) fell today after the French pharmaceutical giant missed expectations on Wall Street with its 4th quarter and full-year financial results. The company faced particular challenges in its diabetes business, which saw its global sales plunge -14% in Q4. Revenues for Sanofi’s diabetes unit in the U.S. fell -29.5% compared to the same period […]
Haemonetics shares rise on Q3 beat
Shares in Haemonetics (NYSE:HAE) rose today after the medical device maker beat expectations on Wall Street with its third quarter results. The Braintree, Mass.-based company posted losses of $6.5 million, or 12¢ per share, on sales of $234 million for the 3 months ended December 30, seeing the bottom line shrink 142.5% while sales grew 2.7% […]
Becton Dickinson can’t escape global stock slide despite Q2 beats
Becton Dickinson (NYSE:BDX) couldn’t shake the nosedive in stock markets worldwide, despite posting fiscal second-quarter results that handily beat expectations in its first earnings release involving C.R. Bard. Franklin Lakes, N.J.-based BD swung to red ink for the three months ended Dec. 31, 2017, reporting losses of -$174 million, or -76¢ per share, on sales of $3.08 billion. […]
Amgen swings to a loss in Q4 after $6B hit from tax reform
Shares in Amgen (NSDQ:AMGN) rose slightly today after the biotech missed expectations on Wall Street with its fourth-quarter earnings, but topped EPS estimates for the year ahead. The Thousand Oaks, Calif.-based company swung to a net loss in Q4 thanks to a $6 billion tax charge, posting -$4.26 billion on sales of $5.8 billion in the 3 […]
Edwards Lifesciences shares up after Q4, 2017 earnings beat The Street
Shares in Edwards Lifesciences (NYSE:EW) have risen in after-hours trading today after the medical device maker beat expectations on Wall Street with its fourth quarter and full fiscal 2017 earnings results. The Irvine, Calif.-based company posted profits of $35.7 million, or 17¢ per share, on sales of $888.5 million for the 3 months ended Dec. 31, […]
Shares in Novo Nordisk sink after Q4 earnings, sales disappoint
Shares in Novo Nordisk (NYSE:NVO) fell today after the insulin-maker missed expectations on Wall Street with its fourth quarter and full-year financial results. The Denmark-based company posted profits of $1.38 billion on sales of $4.68 billion for the 3 months ended Dec. 31, for bottom-line loss of -5% on sales loss of -5% compared with the same […]
Conmed’s Q4, 2017 profits surge on tax gain
Fourth-quarter and full-year profits surged for ConMed (NSDQ:CNMD) thanks to the tax reforms passed last year, as the medical device maker posted Street-beating sales and earnings numbers. Utica, N.Y.-based Conmed yesterday reported profits of $46.7 million, or $1.65 per share, on sales of $222.6 million for the three months ended Dec. 31, 2017. That’s a […]
Baxter posts Street-beating Q4 earnings, sales
Shares in Baxter (NYSE:BAX) fell slightly this morning after the company topped expectations on Wall Street with its fourth quarter and full-year results. The Deerfield, Ill.-based company swung to a loss in Q4 thanks to a $322 million hit from the recently-enacted U.S. tax reform legislation. Baxter posted -$71 million in net losses for the quarter on […]
Abiomed’s fiscal Q3 crushes The Street despite $19m tax hit
Abiomed (NSDQ:ABMD) topped the consensus forecast for its fiscal third-quarter results despite taking a nearly $19 million hit due to the tax reforms enacted last year. The Danvers, Mass.-based cardiac assist device maker posted profits of $13.4 million, or 29¢ per share, on sales of $154.0 million for the three months ended Dec. 31, 2017, […]