Shares in Boston Scientific (NYSE:BSX) rose slightly this morning after the company reported preliminary results for the fourth quarter and full year of 2018 that were in-line with estimates on Wall Street.
The Marlborough, Mass.-based company said it expects to report $2.56 billion in sales for the fourth quarter and $9.82 billion for the full year.
In Q4, Boston Scientific’s cardiovascular business pulled in $970 million in sales, while its rhythm & neuro unit recorded $790 million in revenue. The company’s MedSurg division saw $800 million in sales, according to an SEC filing.
Most of the company’s Q4 sales were made in the U.S. – $1.46 billion were recorded in the States, with $560 million coming from EMEA, $450 million from APAC and $100 million from Latin America and Canada.
Boston Scientific said it would share full results for Q4 and FY18 on Feb. 6.
BSX shares were trading at $34.96 apiece in morning activity today, up +1.6%.
Hologic tops consensus with Q1 prelims
The number exceeds the company’s previous guidance for the quarter of $800 – $815 million and the consensus on Wall Street. Analysts were looking for Q1 sales of $811.3 million.
Hologic plans to detail its full financial results for Q1 on Jan. 30.
“We expect to post strong first quarter revenue well above our guidance range, driven by acceleration in our largest businesses – U.S. breast health, international, and molecular diagnostics – all of which posted double-digit constant currency growth to start our year,” chairman, president & CEO Steve MacMillan said in prepared remarks.
HOLX shares were trading at $40.95 apiece in morning activity, up +1.1%.
Integra shares climb on promising Q4 prelims
Shares in Integra LifeSciences (NSDQ:IART) rose today after the company said that it expects to report sales for the fourth quarter that land in the higher end of its previous guidance range of $378 – $383 million.
The Plainsboro, N.J.-based company added that organic revenue growth in Q4 is expected to be just above 4%. Integra plans to report its final Q4 and full year 2018 financial results in February.
Analysts have the company’s Q4 and FY18 consensus at $380.8 million and $1.47 billion, respectively.
IART shares were trading at $46,20 apiece in morning activity today, up +3.9%.
SeaSpine Q4, FY18 prelims beat estimates
The Carlsbad, Calif.-based company pegged its full-year sales for 2018 between $143 million and $143.4 million. As of Dec. 31, the company had $54 million in cash, cash equivalents and investments, according to an SEC filing.
Analysts on Wall Street estimated that SeaSpine will post Q4 sales of $36.3 million and $141.7 million for FY18 sales.
“We are pleased by our strong revenue performance in the fourth quarter, which reflects continued solid growth across our portfolios,” president & CEO Keith Valentine said in prepared remarks. “We are confident that we are well capitalized and positioned to sustain this growth as we continue to deliver cost effective procedural solutions to surgeons and hospitals to improve the quality of patient lives.”
SeaSpine said it expects 2019 revenue to be between $152 – $156 million.
SPNE shares were trading at $17.10 in morning activity, up +1.3%.
Orthofix shares rise as Q4, FY2018 prelims beat consensus
The Lewisville, Texas-based company said that it expects to post net sales of approximately $121 million for the fourth quarter, representing 3.5% sales growth over the fourth quarter of 2017.
For the full year, Orthofix said that it expects to post net sales of approximately $453 million, representing growth of 4.4% when compared to sales in 2017.
The company said that for the fourth quarter of 2018 it expects to post sales of $53 million for its bone growth therapies division, $25 million in its spinal implants division, $16 million for its biologics division and $27 million for its extremities business, according to an SEC filing.
For the full year, the bone growth therapies division reported sales of $195 million, while the spinal implants business reported sales of $92 million. The company’s biologics division and extremities divisions reported sales of $60 million and $106 million, respectively.
Shares in Orthofix have risen 2.1% so far today, at $50.23 as of 1:51 p.m. EST.
“As we start the new year, we are very excited about beginning the next phase of Orthofix’s evolution. Five years ago, our strategy by necessity was to recover from the issues of the past. Once that had been accomplished, our focus shifted to fundamentally rebuilding the company to achieve long-term sustainability and accelerating growth. Our strategy in 2018 and continuing in 2019 is to position the company for our next phase, topline growth acceleration, which we believe will drive substantially more shareholder value. With an anticipated FDA approval and US commercial launch of the M6-C artificial cervical disc in 2019 as a catalyst, we expect to achieve solid mid-single digit growth this year, accelerating to double-digit organic growth in 2020,” prez & CEO Brad Mason said in a press release.
Icon shares rise on preliminary 2019 guidance release
Shares in Icon have risen today after the company released preliminary 2019 financial guidance for the coming year.
The Dublin-based company said that it expects to post sales of between approximately $2.74 billion and $2.84 billion for the full fiscal year 2019, representing growth of between 5.2% and 9%.
Icon said that it expects to post earnings per share for the coming year of between $6.69 and $6.89. The company added that it plans to repurchase up to 1 million of its company’s shares during the 2019 fiscal year.
The company reaffirmed its financial guidance for the full fiscal year 2018, expecting to see sales of between approximately $2.56 billion and $2.64 billion with earnings per share of between $5.98 and $6.12.
Shares in Icon have risen approximately 6.6% today, at $132.36 as of 2:21 p.m. EST.
“We expect 2019 to be another robust year of revenue and earnings progression for ICON. Supported by a positive business win trend of a trailing twelve month book to bill of 1.28x, we expect revenue to grow by 5.2 – 9.0% to a range of $2,735 – $2,835 million. Furthermore, through our continued focus on efficiency and leveraging our global support infrastructure, we expect earnings per share to increase by 10.6 – 13.9% to a range of $6.69 – $6.89. In addition to this organic growth, we feel we have the strongest balance sheet in the industry and will continue to focus on deploying capital to maximize shareholder value through a combination of M&A and share repurchases,” CEO Steve Cutler said in a prepared statement.
Alphatec shares dip as Q4, FY2018 prelims miss the mark
The Carlsbad, Calif.-based company said that it expects to post sales of between $25.2 million and $25.7 million for the fourth quarter and between $91.5 million and $92 million for the full fiscal year 2018.
Analysts on Wall Street expected to see sales of $26.9 million for the fourth quarter, with fiscal year 2018 sales of approximately $93.3 million, just ahead of what the company said it expects to post.
Shares in Alphatec fell approximately 7.7% yesterday, opening at $2.20 and closing at $2.03.
“Our preliminary revenue results for the fourth quarter mark an encouraging close to a transformative year. We expect continued investment in 2019 as we create an industry-leading portfolio. Through commercial launch of our 2018 alpha releases, and our exclusive neuromonitoring informatics solution, we are forming a clinically distinct, approach-based spine technology platform. I am as confident as ever that we are building an organic innovation machine and look forward to generating future market disruption,” chair & CEO Pat Miles said in prepared remarks.
Novocure shares rise as Q4, FY2018 prelims nearly meet Wall Street expectations
The St. Helier, Jersey-based company said that it expects to post sales of approximately $69.6 million for its fourth quarter, up 30% over its fourth quarter of 2017, with full year sales of $248 million, 40% over its previous fiscal year.
The fourth quarter earnings are slightly behind the approximately $70.5 million expectation on Wall Street, where analysts expected to see full year sales of approximately $249 million.
Shares in NovoCure have risen 5.3% today, at $37.05 as of 2:39 p.m. EST.
“We continued to drive Optune adoption in the fourth quarter with full year 2018 preliminary net revenues of $248.0 million, representing annual growth of more than 40 percent. Prescriptions for patients with newly diagnosed GBM grew to approximately 950 in the fourth quarter, driving our 16th consecutive quarter of active patient growth since the initial presentation of our EF-14 data. Notably, we also expanded our geographic reach with national reimbursement in Sweden and Zai Lab’s recent launch of Optune in Hong Kong. At Novocure, we are working to extend survival in some of the most aggressive forms of cancer by developing and commercializing our innovative therapy. With an application at the FDA for mesothelioma and ongoing or planned phase 3 pivotal trials in brain metastases, non-small cell lung cancer, pancreatic cancer and ovarian cancer, we believe GBM represents just the tip of the iceberg for Tumor Treating Fields. We look forward to providing a full company update and discussing our 2018 financial results on our February conference call,” exec chair William Doyle said in a prepared release.