Thermo Fisher Scientific Inc. (NYSE:TMO) yesterday revealed plans for its third expansion project in China within the last 12 months.
The company intends to open a laboratory instruments manufacturing plant in the Suzhou municipality in early 2012.
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Thermo Fisher Scientific Inc. (NYSE:TMO) yesterday revealed plans for its third expansion project in China within the last 12 months.
The company intends to open a laboratory instruments manufacturing plant in the Suzhou municipality in early 2012.
Boston Scientific (NYSE:BSX) is getting a big boost this morning, climbing as much as 6 percent in early trading after RBC Capital Markets reportedly raised its rating for the medical device maker’s stock.
BSX shares touched $7.62 apiece early today, before backing down to its current range of about $7.50 per share. The stock last traded this high just one week ago, before sliding nearly 7 percent between Tuesday and Thursday’s close.
Aside from the announcement last week that there will be between 1,500 and 2,000 Medtronic Inc. (NYSE:MDT) layoffs in the next three months, the Minneapolis-based medical device manufacturer has had at least three other major layoffs between 2007 and 2010.
The financial performance of the fiscal quarter following each of those announcements has been mixed. Revenue always increased, but profits were hurt either by recalls or by a mix of restructuring charges and a change in the company’s accounting framework.
MassDevice keeps a close eye on public medical device companies, tracking their quarterly sales and earnings reports. For the most recent filings, check out our Earnings Roundup, where we collect each quarter’s reports.
Here’s a quick rundown of a few releases over the past couple days:
Varian Medical Systems Inc. (NYSE:VAR) late last week inked a deal with Bank of America to buy back about $280 million worth of its common stock, reducing the amount of outstanding shares by almost 3 percent.
Medtronic Inc.’s (NYSE:MDT) move last week to cancel $2 billion worth of supply contracts with Novation LLC could save the device maker some $60 million a year. It’s a no-brainer for one of med-tech’s biggest players, but it might signal a wider trend: Will the medical device industry buck group purchasing organizations even as hospitals flock to them?
St. Jude Medical Inc. (NYSE:STJ) shares are slightly lower today, falling 26 cents to $47.75 after the medical device maker disclosed plans to begin paying a quarterly dividend to shareholders.
The move has the St. Paul, Minn.-based medical device maker joining a gaggle of healthcare firms to initiate or expand payments in recent weeks.
Quintiles is partnering with Samsung Group on a $266 million initiative to bring the South Korean conglomerate into the drug manufacturing business.
Durham, N.C.-based Quintiles provides an array of services for pharmaceutical companes and is the largest contract research organization in the industry. Quintiles spokesman Phil Bridges said that the company’s involvement with Samsung is a $30 million stake in the effort.
MassDevice keeps a close eye on public medical device companies, tracking their quarterly sales and earnings reports. For the most recent filings, check out our Earnings Roundup, where we collect each quarter’s reports.
Here’s a quick rundown of a few releases over the past couple days:
PerkinElmer Inc. (NYSE:PKI) shares are now down more than 4 percent today, falling $1.12 to $26.60 after the diagnostics giant flatly denied takeover speculation.