Abbott (NYSE:ABT) shares are up this morning on reported fourth-quarter 2019 earnings that met Wall Street analysts’ expectations, with sales beating The Street. The Abbott Park, Ill. company posted profits of $1.705 billion or $0.95 per share, on sales of $8.31 billion for the three months ended Dec. 31, 2019, for a bottom-line gain of […]
Johnson & Johnson misses the mark on Q4 revenue
Johnson & Johnson (NYSE:JNJ) today reported fourth-quarter earnings that beat the consensus forecast on Wall Street, but its sales numbers were slightly off amid declining medical device revenue. The New Brunswick, N.J.–based pharmaceutical, medical device and consumer products giant reported profits of $4.0 billion, or $1.50 per share, on sales of $20.7 billion for the three […]
Boston Scientific to appeal order to finish failed $275M merger
Boston Scientific (NYSE:BSX) will appeal a court order requiring it to complete its $275 million purchase of Channel Medsystems. On Dec. 10. 2019, a Delaware chancery court judge ordered Boston Scientific to finish the merger. In a lawsuit filed in September 2018, Channel claimed that Boston Scientific spiked the deal over a former Channel employee’s scheme to […]
Shareholder sues to block Stryker’s $4B purchase of Wright Medical
A Wright Medical (NSDQ:WMGI) shareholder has filed a proposed class action lawsuit to block the company’s $4.08 billion acquisition by Stryker (NYSE:SYK). Shareholder John Thompson filed the lawsuit this week in federal court in Delaware against Wright Medical, its board of directors and Stryker, claiming that the solicitation statement that asks shareholders to approve the […]
ResMed settles kickback allegations for $37.5 million
This article has been updated with comments from ResMed. ResMed (NYSE:RMD) has agreed to pay more than $37.5 million to settle five whistleblower lawsuits claiming the company paid kickbacks to doctors, sleep labs and medical equipment suppliers to obtain customer referrals, according to the U.S. Department of Justice. Federal prosecutors alleged that San Diego-based ResMed: […]
Smile Direct Club aligners now available in-office; stock soars
SmileDirectClub (NSDQ:SDC) shares skyrocketed following the announcement that its clear aligners are set to be offered through the wholesale channel in dentist and orthodontist offices. The Nashville, Tenn.-based company’s announcement follows the Dec. 31, 2019, expiration of its exclusive supply agreement with Align Technology (NSDQ:ALGN). After yesterday’s announcement, shares of SDC are up 16.24% at $13.60 per […]
Masimo to acquire NantHealth’s connected care business
Masimo (NSDQ:MASI) will pay $47.25 million upfront to acquire the connected care business of Culver City, Calif.–based NantHealth (NSDQ: NH), the company said today. NantHealth’s connected care business provides medical device interoperability to hospitals and health systems, with products including DCX device connectivity (formerly known as DeviceConX), VCX patient vitals software (formerly known as VitalsConX), the […]
Boston Scientific shares drop on Q4 sales news
Shares in Boston Scientific (NYSE:BSX) dropped 8% this morning on news of disappointing fourth-quarter sales. The company’s preliminary earnings report showed sales for the quarter ended Dec. 31, 2019 coming in at $2.9 billion, below the $2.91 billion that analysts were expecting. The unaudited sales figure represents organic growth of 7.3%, missing the company’s own […]
Abiomed slips 13% on lower forecast
Shares in Abiomed (NSDQ:ABMD) fell nearly 13% this morning after the company issued revenue guidance that missed Wall Street expectations. The Danvers, Mass.-based company said in an SEC filing that it expects sales of $221.6 million for the third quarter of its fiscal 2020 year, which ended Dec. 31, 2019. While that figure is 10% […]
Pavmed back in NASDAQ compliance
Pavmed (NSDQ:PAVM) said today that it has received formal notice from NASDAQ that it has returned to compliance with the stock exchange’s listing rule after 10 consecutive days with a closing bid price of at least $1 per share. NASDAQ warned the company in November that it was in danger of delisting due to poor […]
Miles White’s fearless strategy for growing Abbott
With strong leadership and a taste for risk-taking, outgoing CEO Miles White left no stone unturned as he grew Abbott into one of the world’s largest medical device companies. Few medical device companies have seen the growth and transformation that Abbott (NYSE:ABT) has seen under the leadership of Miles White. During his two decades as […]
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