The Danvers, Mass.-based heart pump maker said it expects to post fiscal Q3 sales of roughly $200.6 million, representing a 30.3% increase over its fiscal Q3 top line.
Abiomed also raised its revenues guidance for fiscal 2019, saying it now expects full-year sales of about $780 million, up from $765 million to $770 million previously.
The news sent ABMD shares, which closed up 3.7% at $313.44 apiece Jan. 4, up some 2.1% to $320 even today in pre-market trading.
The company said it plans to issue its full fiscal Q3 results Jan. 31.
NuVasive’s Q4, annual prelims deliver a blow
“In the fourth quarter and full year 2018, we continued to grow above market, driven by new product introductions and strong performances in key global geographies,” CEO Christopher Barry said in prepared remarks. “We are encouraged by our mid-single digit growth in a stable U.S. spine market, while experiencing some temporal surgeon case volume disruptions that impacted the fourth quarter results, along with a delay in timing of capital equipment orders.
“In 2018, NuVasive launched more than a dozen new technologies and initiated several strategic partnerships—all designed to support innovation and help deliver better, more predictable patient outcomes,” Barry added. “The company will continue to focus on delivering disruptive technology with a focus on the core hardware portfolio and navigation, imaging and robotics, while enhancing operational excellence and strategically investing in profitable growth areas in 2019.”
The San Diego-based spinal implant maker said it plans to issue its full quarterly and annual results, and its outlook for 2019, in late February.
NUVA shares took a hit early today, falling -4.1% to $48.03 apiece.
Cardiovascular Systems ticks up on fiscal Q2 prelims
CSI said it expects to log sales of $60.2 million when it reports its full fiscal Q2 result Jan. 30, when it also plans to update its guidfance.
“Our strategy to accelerate revenue growth remains firmly on track. During the first half of fiscal 2019, our domestic atherectomy franchises grew 11%, including $1.3 million of new revenue from the sale of OrbusNeich angioplasty balloons and Zilient guidewires. International revenue was approximately $3 million,” chairman, president & CEO Scott Ward said in prepared remarks. “Our revenue results year-to-date position CSI to deliver fiscal 2019 revenue in a range of $243 million to $247 million, an increase of 12% to 14% compared to fiscal 2018. We plan to provide formal guidance details when we report fiscal second-quarter results at the end of the month.”
Investors initially responded by sending CSII shares up 1.5% to $29.51 apiece today in early trading.
Wright Medical slips on Q4 prelims
Memphis-based Wright said it expects to post sales of $238.1 million for Q4 and $836.2 million for the full year.
“Our preliminary fourth-quarter results represent an outstanding performance across our businesses. This performance was driven by continued strong shoulder growth, including the ongoing launch of our Perform Reversed glenoid and continued contributions from our Simpliciti shoulder system. We anticipate that these products, as well as accelerating adoption of our Blueprint enabling technology and the upcoming launch of our Revive revision shoulder system, will continue to drive strong shoulder sales growth in 2019 and beyond,” president & CEO Robert Palmisano said in prepared remarks. “In our U.S. lower extremities business, we got off to a very strong start with Cartiva revenue of approximately $9.5 million, which exceeded our expectations in the fourth quarter. On Jan. 1, Cartiva was fully launched with our U.S. lower extremities sales force, including the integration of the former Cartiva distributors that we have chosen to retain. We also saw continued strong growth in our core products as well as in total ankle. We intend to continue to focus on strong execution and new product launches throughout 2019.”
Wright updated its longer-term financial goals, saying it should meet a prior target of 20% adjusted EBITDA margins for Q4 2019. For 2019 through 2021, the company said it expects double-digit, constant-currency sales growth, adjusted gross margins in the high 70% range and adjusted EBITDA margins in the mid-20% range by the end of 2021.
“Delivering on these long-term financial targets is expected to make Wright a company with a best in class combination of size, growth and adjusted EBITDA margin. I believe our leadership positions in high-growth markets, combined with specialized sales forces and differentiated technologies positions us well to achieve these targets and deliver enhanced shareholder value,” Palmisano added.
WMGI shares slid -1.2% to $27.44 each today in early-morning trading.
The company said it plans to report its full results and issue new guidance Feb. 26.
Full-year, Q4 prelims send CAS Medical Systems up a hair
Branford, Conn.-based CasMed said it expects Q4 sales to reach $5.8 million and full-year sales to hit $21.9 million.
“I’m pleased to report record Fore-Sight oximetry sales for the fourth quarter, with strong growth coming from the U.S. and international markets and our fifth consecutive quarter of year-over-year double-digit Fore-Sight sales increases,” president & CEO Thomas Patton said in prepared remarks. “Fore-Sight disposable sensor sales for the quarter grew 20% and represented 90% of total sales. We attribute this growth primarily to strong execution by our maturing domestic salesforce and growth from key international distributors as we expand the market for our Fore-Sight products worldwide.”
CasMed plans to update its 2019 outlook mid-year, Patton added. Full Q4 and 2018 results are slated to be released in early March, the company said.
CASM shares were up 0.5% to $1.92 today in early trading.