Medical device company stocks appear to be in a holding pattern as investors wait for new earnings reports. MassDevice’s MedTech 100 Index — which includes stocks of the world’s largest medical device companies — bumped along last week. It closed at 84.39, about where it had been at the start of the week. The Dow Jones […]
Conformis expects 50% drop in Q2 product revenue
Joint replacement implant maker Conformis (NSDQ:CFMS) said today that it anticipates a COVID-19-influenced 50% year-over-year drop in second-quarter product revenue. Releasing its preliminary results for the quarter ended June 30, the Billerica, Mass.-based company projected total revenue of $19.5 million for the quarter, which is down -1% year-over-year on a reported and constant currency basis. About […]
Thermo Fisher projects 10% increase in Q2 sales
Thermo Fisher Scientific (NYSE:TMO) announced today that it estimates revenue growth for its recently ended second quarter to total approximately 10%. Waltham, Mass.-based Thermo Fisher said in a news release that its reported and organic sales growth for the quarter (ended June 27) was primarily driven by global sales of PCR-based tests and other products and services supporting […]
MedTech 100 roundup: Stocks tick back up to open July
After a solid start to July, the medtech industry continues to experience a stock market roller coaster amid the COVID-19 pandemic. MassDevice’s MedTech 100 Index — which includes stocks of the world’s largest medical device companies — sat at 84.25 points at the end of last week (July 3). That total represents a 2.9% increase from […]
RTI Surgical posts losses ahead of potential OEM business sale
RTI Surgical (NSDQ:RTIX) shares dipped today on first-quarter results that fell short of the consensus forecast. The Deerfield, Ill.-based company posted losses of -$17.9 million, or -24¢ per share, on sales of $73.7 million for the three months ended March 31, 2020, for a 91% bottom-line slide on sales growth of 5.3%. Adjusted to exclude one-time […]
MedTech 100 roundup: Another rebound as markets continue to fluctuate
Medtech stocks rebounded from a significant dip earlier in June last week, continuing to highlight the topsy-turvy nature of the markets during the COVID-19 pandemic. MassDevice’s MedTech 100 Index — which includes stocks of the world’s largest medical device companies — sat at 85.00 points at the end of last week (June 19). That total represents […]
3M announces sizable sales dips in May
3M (NYSE:MMM) announced today that it experienced a -20% sales decline year-over-year for the month of May as the COVID-19 pandemic continues to impact business. The St. Paul, Minn.-based company’s 20% dip brought sales down to $2.2 billion, with organic local-currency sales dropping -21%, although acquisitions and net of divestitures increased sales by 2%. Foreign currency […]
MedTech 100 roundup: Markets skid after strong stretch
Following a strong performance over the last couple of weeks, the medtech market experienced one of its most significant drop-offs in recent months amid investor worries over a rise in COVID-19 cases in some states. MassDevice’s MedTech 100 Index — which includes stocks of the world’s largest medical device companies — sat at 82.12 points at […]
Senseonics plummets on big Q1 losses
Senseonics (NYSE:SENS) shares took a large dip today on first-quarter losses that came in well short of the consensus forecast. The Germantown, Md.-based implantable continuous glucose monitor maker posted losses of -$42.6 million, or -21¢ per share, on sales of $31,000 for the three months ended March 31, 2020, for a 45% bottom-line slide on a […]
MedTech 100 roundup: Stocks stand pat in June’s first week
While the markets experienced some growth over the past week, stocks in the medtech industry remained practically unchanged over seven days. MassDevice’s MedTech 100 Index — which includes stocks of the world’s largest medical device companies — sat at 87.15 points at the end of last week (June 5). That total represents just a -0.02-point decrease […]
Cantel Medical up on Street-beating Q3
Cantel Medical (NYSE:CMD) shares ticked up today on third-quarter financial results that came in ahead of the consensus forecast. The Little Falls, N.J.-based infection prevention products and services company posted profits of $15.8 million, or 37¢ per share, on sales of $236.9 million for the three months ended April 30, 2020, for a 93.1% bottom-line gain […]
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