Teleflex shares took a hit today despite fourth-quarter results that came in ahead of the consensus forecast. Shares of TFX fell 4.6% at $239.36 apiece in midday trading today. MassDevice’s MedTech 100 Index — which includes stocks of the world’s largest medical device companies — rose slightly. The Wayne, Pennsylvania-based company posted profits of $31.1 […]
Wall Street Beat
Tandem stock dips after hours on Q4 misses, 10% growth expected in 2024
Tandem Diabetes Care (Nasdaq:TNDM) shares took a hit after hours on fourth-quarter results that came up short of the consensus forecast. Shares of TNDM fell 8% at $20.74 apiece after the market closed today. MassDevice’s MedTech 100 Index — which includes stocks of the world’s largest medical device companies — finished the day up 0.2%. […]
Former Mazor VP convicted of insider trading
A federal jury in Minnesota has convicted a former Mazor Robotics VP of insider trading and securities fraud around Medtronic’s $1.6 billion acquisition announcement in 2018. Ron Tavlin was Mazor’s VP of business development from 2017 to 2019. Before that, he’d been a paid consultant for Medtronic. On Feb. 16, a jury found him guilty on […]
3M to spin off Solventum Health Care unit on April 1
3M announced today that it filed an SEC Form 10 to set the planned spinoff of its Solventum Health Care business for April 1. The St. Paul, Minnesota-based medtech company first announced plans to spin off its Health Care unit in June 2022. It named the standalone company, which generates more than $8 billion in […]
LivaNova stock rises on strong Q4, massive bottom-line uptick
LivaNova shares got a boost today on fourth-quarter results that came in well ahead of the consensus forecast. Shares of LIVN ticked up nearly 9% at $57.28 apiece in mid-morning trading today. MassDevice’s MedTech 100 Index — which includes stocks of the world’s largest medical device companies — was down 0.4%. The London-based medtech company […]
BioSig reduces workforce again, will ‘substantially’ cut operations
BioSig Technologies (Nasdaq:BSGM) announced today that it terminated “a significant number of its employees.” Shares of BSGM were up 3.1% to 64¢ apiece in mid-morning trading today following the announcement. With this latest workforce reduction, the company says it expects to “substantially reduce business operations.” Today’s announcement marks the company’s second significant headcount cut in […]
Medtronic is exiting the ventilator market
Medtronic announced today that it will exit what it describes as its increasingly unprofitable ventilator product line. The move comes more than a year after Medtronic said it would spin off its Patient Monitoring and Respiratory Interventions businesses, part of its Medical Surgical portfolio. Reports last year claimed that other medtech companies, including GE HealthCare […]
How GLP-1s tanked and reshaped the medtech stock market in 2023
Analysts weigh in on how the GLP-1 craze caused one of the biggest swings in the medtech stock market in recent years.
In a tumultuous year for the medtech industry, the combination of strong sales growth and promising clinical trial results from glucagon-like peptide 1 agonists (GLP-1s) created a seismic shift in the medtech stock market, triggering one of the largest dips in market value that analysts have seen in years. While analysts said the medtech stock market […]
AtriCure grows sales by 21% in Q4
AtriCure shares dipped today despite fourth-quarter results that came in ahead of the consensus forecast. Shares of ATRC fell 2.8% at $33.25 apiece in mid-morning trading today. MassDevice’s MedTech 100 Index — which includes stocks of the world’s largest medical device companies — rose 0.7%. The Mason, Ohio-based company posted losses of $9.8 million. That […]
GE HealthCare prices $1B offering
GE HealthCare announced today that it priced an underwritten public offering worth an amount totaling more than $1 billion. Chicago-based GE HealthCare priced the offering of 13 million shares of common stock at $82.25 per share. That translates to $80.605 per share, net of underwriting discount. At the price of $82.25 per share, the total […]
Ablation tech developer Adagio Medical to go public in SPAC deal
Arya Sciences Acquisition Corp IV agreed to a business combination with Adagio Medical, taking the cardiac ablation company public. Upon the closing of the transaction, Adagio is set to become a subsidiary of Aja Holdco, still operating under its existing management team and under the name “Adagio Medical.” Arya expects to list the combined company’s […]