The up-and-down nature of the medtech industry continues to carry through 2021, with a recent dip now followed by a rapid ascent. MassDevice‘s MedTech 100 Index — which includes stocks of the world’s largest medical device companies — finished the week (June 11) at 109.63 points, producing a 2.5% rise from the 106.96-point mark set one […]
MassDevice Earnings Roundup
MedTech 100 roundup: Rebound hits a snag
Two weeks ago, medtech was on the rise following a rough stretch, but the past week brought the industry slightly back down to earth. MassDevice‘s MedTech 100 Index — which includes stocks of the world’s largest medical device companies — finished the week (June 4) at 106.96 points, producing a -1.4% dip from the 108.5-point mark […]
Abbott stock down on reduced 2021 earnings outlook
Abbott (NYSE:ABT) announced today that it is cutting its earnings outlook for the year amid reduced demand for COVID-19 diagnostics. The news sent ABT shares down more than 8% to $106.91 apiece by midday trading today. MassDevice‘s MedTech 100 Index, which includes stocks of the world’s largest medical device companies, was down slightly. Abbott had […]
MedTech 100 roundup: On the rise again
Last week provided a glimmer of light for medtech after a rough few weeks as the industry continues to push in the right direction. MassDevice‘s MedTech 100 Index — which includes stocks of the world’s largest medical device companies — finished the week (May 28) at 108.5 points, producing a 0.7% rise from the 107.74-point mark […]
Medtronic beats The Street in Q4, Hugo robot wins IDE
Medtronic (NYSE:MDT) had much to tout with its pipeline as it released Street-beating fourth-quarter results. CEO Geoff Martha announced to analysts that FDA has granted the company’s much-anticipated Hugo robot an investigational device exemption approval. Medtronic is preparing to commence its Expand Uro trial in the U.S. to study Hugo in urologic procedures, Martha said […]
Senseonics stock up on Street-beating Q1
Senseonics (NYSE:SENS) shares rose today on first-quarter results that beat the consensus forecast. The Germantown, Md.–based diabetes management technology developer posted losses of –$249.5 million, or –68¢ per share, on sales of $2.8 million for the three months ended March 31, 2021, registering a massive bottom-line slide from losses of –$42.6 million this time one […]
Butterfly Network revenue up nearly 44% in Q1 — but shares still down
Three months after becoming a publicly-traded company, Butterfly Network (NYSE: BFLY) reported growing revenue and narrowing losses in Q1. The handheld ultrasound system company, however, also projected losses of –$135 million to –$155 million in 2021, just a bit better than the –$162.7 million lost in 2020. Butterfly Network said today that it expects full-year […]
Haemonetics plummets on mixed-bag Q4 results
Haemonetics (NYSE:HAE) posted fourth-quarter results today that beat the revenue consensus on Wall Street and missed on earnings estimates. The company reported losses of -$11 million, or -22¢ per share, on sales of $225 million for the three months ended April 3, for a sales loss of -5.65% compared with Q4 2021. Adjusted to exclude one-time […]
Asensus Surgical posts Q1 earnings beat
Asensus Surgical (NYSE:ASXC) shares are down today — a day after the company posted Q1 results that edged the consensus earnings forecast. The Research Triangle Park, N.C.-based robotic surgery company — formerly known as TransEnterix — posted losses of -$17.3 million, or -8¢ per share, on sales of $2.1 million for the three months ended […]
Lyra Therapeutics rises on Q1 earnings
Lyra Therapeutics (NSDQ:LYRA) shares finished up on the day despite first-quarter results that missed the consensus earnings forecast. The Watertown, Mass.-based chronic rhinosinusitis (CRS) treatment developer posted losses of -$7.8 million, or -60¢ per share for the three months ended March 31, 2021, for a -84.4% bottom-line slide. Lyra’s EPS of -60¢ came in 48¢ behind […]
Electromed posts Street-beating Q3
Electromed (NSDQ:ELMD) shares dipped slightly after hours today despite third-quarter results that topped the consensus forecast. The New Prague, Minn.-based company posted profits of $223,771, or 3¢ per share, on sales of $8.8 million for the three months ended March 31, 2021, for a -65.7% bottom-line slide on sales growth of 0.5%. Electromed’s EPS of […]
