Salt Lake City-based BSD said the increase was largely due to increased sales of its MicroThermX microwave ablation device for soft tissue, according to a press release.
BSD Medical posted losses of $2.0 million, or 6¢ per share, on sales of $1.3 million during the 3 months ended May 31, representing a 6.1% reduction in losses on 102.1% sales growth compared with fiscal Q3 2012.
"The growth in revenue during the 3rd quarter and 9 months ended May 31, 2013 when compared to the same periods in fiscal 2012 was chiefly derived from increased MicroThermX Microwave Ablation sales," president Harold Wolcott said in prepared remarks. "As planned, we commenced shipping MicroThermX systems and SynchroWave antennas to Terumo Europe NV during the 3rd quarter."
Hatch Medical to broker Portable Medical Devices, AngioAdvancments sale
Hatch Medical, a medical device incubator and technology brokerage firm, said it will broker the sale of Portable Medical Devices and AngioAdvancements.
Israel wants Medinol to pay capital gains on patent win over Boston Scientific
The Israeli government wants Medinol to cough up between $150 million and $225 million in capital gains taxes from its $750 million patent infringement win over Boston Scientific (NYSE:BSX).
Echo Therapeutics regains NASDAQ compliance
Echo Therapeutics (NSDQ:ECTE) said it’s back in the NASDAQ stock exchange’s good graces after its share price topped $1 apiece for 12 consecutive business days. ECTE shares were trading at $2.45 each as of about 12:20 p.m. today.
Wound Management, Academy Medical ink distribution pact
Wound Management Technologies (OTC:WNDM) said it inked a 5-year distribution pact with Academy Medical for its CellerateRX line of products to U.S. Veterans Affairs Dept. facilities.
- ArthroCare (NSDQ:ARTC): Craig Hallum upgrades from a “hold” to “buy” rating.
- Baxter (NYSE:BAX): Credit Suisse initiates coverage with "outperform" rating, $81 price target.
- Boston Scientific (NYSE:BSX): Citigroup downgrades to "neutral" from "buy" rating, $9.30 price target.
- CareFusion (NYSE:CFN): BMO Capital Markets raises price target from $38 to $41, maintains “outperform” rating.
- Cooper Cos. (NYSE:COO): Ned Davis Research upgrades from “neutral” to “buy” rating.
- Cynosure (NSDQ:CYNO): Leerink Swann reiterates "outperform" rating, $36 price target.
- Hill-Rom “hold”ings (NYSE:HRC): Goldman Sachs downgrades to "neutral" from "buy" rating, $36 price target.
- Intuitive Surgical (NSDQ:ISRG): Canaccord Genuity downgrades from "buy" to "hold" rating, lowers price target from $527 to $444; Goldman Sachs downgrades to "neutral" from "buy" rating, cuts price target to $500 from $676; Leerink Swann maintains "market perform" rating; Raymond James downgrades from "outperform" to "market perform" rating; Wedbush maintains "outperform" rating, lowers price target to $520 from $580.
- Mallinckrodt plc (NYSE: MNK): Bank of America initiates coverage with “buy” rating; Barclays Capital initiates coverage with "equal-weight" rating, $45 price target; CRT Capital initiates coverage with "sell" rating, $34 price target.
- Mindray (NYSE:MR): Piper Jaffray downgrades from “overweight” to “neutral” rating.
- Siemens (NYSE:SI): Deutsche Bank upgrades from "sell" to "hold" rating, raises price target from $70 to $75; Morgan Stanley reiterates "overweight" rating, $122.38 price target.
- Wright Medical (NSDQ:WMGI): BMO raises price target from $26 to $31, maintains “outperform” rating.