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MassDevice Earnings Roundup

Needham & Co. downgrades Medtronic, Zimmer Biomet shares

May 27, 2022 By Chris Newmarker

Needham & Co. Senior Research Analyst Mike Matson today downgraded his rating of Medtronic (NYSE:MDT) and Zimmer Biomet (NYSE:ZBH) shares to Hold, while Boston Scientific (NYSE:BSX) got an upgrade to Buy. MDT shares were down more than 1% to $97.98 apiece in morning trading, a day after Q4 earnings that missed The Street sent the […]

Filed Under: Business/Financial News, Featured, MassDevice Earnings Roundup, News Well, Orthopedics, Surgical, Wall Street Beat Tagged With: BTIG, Medtronic, Needham & Co., Truist Securities, Zimmer Biomet

‘Catastrophic explosion’ and resin shortage led Medtronic’s supply chain problems

May 26, 2022 By Jim Hammerand

Medtronic CEO Geoff Martha today said a “catastrophic explosion” in Medtronic’s supply chain for packaging and a shortage of resins were the biggest issues hurting the company’s fourth-quarter performance. Fridley, Minnesota-based Medtronic (NYSE:MDT) reported about $350 million less in sales than analysts were expecting for the quarter, which ended April 29. Martha said about 75% of […]

Filed Under: Blog, Business/Financial News, Featured, MassDevice Earnings Roundup, News Well, Outsourcing, Robotics, Surgical Tagged With: Medtronic, resin, semiconductor, supply chain

Medtronic ‘hopeful’ on FDA clearance for next-gen diabetes tech in FY 2023

May 26, 2022 By Sean Whooley

The Medtronic (NYSE:MDT) diabetes business sputtered in the fourth quarter but could be bolstered by a major regulatory nod this year. The Fridley, Minnesota-based company saw revenues for its diabetes arm fall by 7.7% year-over-year in the fourth quarter amid overall misses on both sales and adjusted earnings per share compared to Wall Street’s expectations. […]

Filed Under: Business/Financial News, Diabetes, Drug Pumps, Drug-Device Combinations, Featured, Food & Drug Administration (FDA), MassDevice Earnings Roundup, Patient Monitoring, Regulatory/Compliance, Wall Street Beat Tagged With: Medtronic

Medtronic stock down on Q4 earnings miss

May 26, 2022 By Sean Whooley

Medtronic (NYSE:MDT) shares are down today on fourth-quarter results that missed the consensus forecast. Shares of MDT were down more than 4% to $100.56 apiece in morning trading today. MassDevice‘s MedTech 100 Index, which includes stocks of the world’s largest medical device companies, was up slightly. The Fridley, Minnesota-based medtech giant posted profits of $1.5 […]

Filed Under: Business/Financial News, Featured, MassDevice Earnings Roundup, News Well, Wall Street Beat Tagged With: Medtronic

Baxter expects sales growth momentum through 2025

May 25, 2022 By Sean Whooley

Baxter (NYSE:BAX) today issued long-term financial guidance that projects growth over the next three years. Shares of BAX were up 1.5% at $74.98 per share in midday trading today in response to the news. Deerfield, Illinois-based Baxter expects sales growth between 4% and 5% on a compounded annual basis from 2022 through 2025, with free […]

Filed Under: Business/Financial News, Featured, MassDevice Earnings Roundup, Wall Street Beat Tagged With: Baxter

Steris rises on Street-beating Q4, sets fiscal 2023 guidance

May 12, 2022 By Sean Whooley

Steris (NYSE:STE) shares ticked up today on fourth-quarter financial results that came in just ahead of the consensus forecast. The infection prevention technology company — headquartered in Dublin, Ireland and run operationally out of Mentor, Ohio — posted profits of $52.3 million, or 52¢ per share, on sales of $1.2 billion for the three months ended […]

Filed Under: Business/Financial News, Contract Manufacturing, Dental, MassDevice Earnings Roundup, Sterilization / Calibration, Wall Street Beat Tagged With: Steris Corp.

DarioHealth rises on Street-beating Q1

May 12, 2022 By Sean Whooley

DarioHealth (Nasdaq:DRIO) shares ticked up this morning on first-quarter results that beat the consensus forecast. The (LOCATION)-based digital therapeutics company posted losses of $15.9 million, or 74¢ per share, on sales of $8.1 million for the three months ended March 31, 2022, for a bottom-line slide about $1 million deeper into the red despite more […]

Filed Under: Business/Financial News, Digital Health, Health Technology, MassDevice Earnings Roundup, Software / IT, Wall Street Beat Tagged With: DarioHealth Corp

Senseonics beats The Street in Q1 following Eversense E3 launch

May 11, 2022 By Sean Whooley

Senseonics (NYSE:SENS) posted first-quarter results that topped the consensus revenue forecast on Wall Street. The Germantown, Maryland-based company posted profits of $86.7 million, or 19¢ per share, on sales of $2.5 million for the three months ended March 31, 2022, for a massive bottom-line gain from losses of $249.5 million this time last year despite a […]

Filed Under: Business/Financial News, Diabetes, Drug-Device Combinations, Featured, MassDevice Earnings Roundup, News Well, Patient Monitoring, Wall Street Beat Tagged With: Senseonics

Globus Medical misses with Q1 results

May 10, 2022 By Jim Hammerand

Globus Medical (NYSE:GMED) posted first-quarter results today that missed the consensus forecast on Wall Street and reaffirmed its outlook for the rest of the year. The Audubon, Pennsylvania–based musculoskeletal solutions developer today reported profits of $38.1 million, or $0.37 per diluted share, on sales of $230.5 million for the three months ended March 31, 2022, […]

Filed Under: Blog, Business/Financial News, MassDevice Earnings Roundup, News Well, Spine, Wall Street Beat Tagged With: Globus Medical

SmileDirectClub shares slide on mixed-bag Q1 results

May 10, 2022 By Danielle Kirsh

SmileDirectClub (NSDQ:SDC) this week posted first-quarter results that beat the revenue consensus on Wall Street and missed earnings estimates. The Nashville, Tennessee-based dental aligner maker reported losses of $73.2 million, or -19¢ per share, on sales of $151.6 million for the three months ended March 31, on sales loss of 23.97% compared with Q1 2021. […]

Filed Under: Business/Financial News, Dental, MassDevice Earnings Roundup, Wall Street Beat Tagged With: smiledirectclub

Ocular Therapeutix posts mixed-bag Q1 results

May 10, 2022 By Danielle Kirsh

Ocular Therapeutix (NSDQ:OCUL) this week posted first-quarter results that beat the earnings consensus on Wall Street but missed revenue estimates. The Bedford, Massachusetts-based company reported losses of $12.5 million, or -16¢ per share, on sales of $13.2 million for the three months ended March 31, for sales growth of 79.6% compared with Q1 2021. Earnings […]

Filed Under: Business/Financial News, MassDevice Earnings Roundup, Optical/Ophthalmic, Wall Street Beat Tagged With: Ocular Therapeutix

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