Align Technology (Nasdaq:ALGN) announced today that it plans to repurchase $150 million of its own common stock. The open-market repurchase falls under the company’s $1 billion stock repurchase program approved in January 2023. Align Technology executed a $250 million repurchase in February 2023 with Citibank. In October, the company triggered another $250 million repurchase in an […]
Wall Street Beat
Edwards Lifesciences beats the Street in Q1 and increases sales outlook
Edwards Lifesciences reported first-quarter results that exceeded Wall Street expectations after market close today. The maker of catheter-delivered heart implants — including transcatheter aortic valve replacement (TAVR) systems and transcatheter mitral and tricuspid therapies (TMTT) — also increased its full-year sales guidance. EW’s stock price was relatively flat in after-hours trading. Irvine, California–based Edwards Lifesciences […]
Dexcom stock slides despite Q1 beats, sales guidance increase
Dexcom shares took a hit after hours today on first-quarter results that came in ahead of the consensus forecast on Wall Street. Shares of DXCM dipped about 7% to $128.40 apiece after the market closed today. MassDevice’s MedTech 100 Index — which includes stocks of the world’s largest medical device companies — closed the day […]
ResMed sees increased sleep device demand, stock rises on Q3 beats
ResMed shares ticked up after hours on third-quarter results that came in ahead of the consensus forecast. Shares of RMD rose more than 4% to $191 apiece after the market closed today. MassDevice’s MedTech 100 Index — which includes stocks of the world’s largest medical device companies — finished the day down 1%. The San […]
Integer stock sinks despite Q1 beat as full-year forecast disappoints
Integer stock declined by 10% today despite posting Street-beating first-quarter earnings. Investors were likely reacting to the medtech contract manufacturing giant’s full-year guidance, which was less than the analyst consensus. Plano, Texas–based Integer earned $20.5 million, or 59¢ per share, off of $414.8 million in sales for the quarter ended March 29, 2024. Compared to Q1 […]
Boston Scientific stock is up as Farapulse drives Q1 beat, raised guidance
Boston Scientific shares got a boost this morning on first-quarter results that came in ahead of the consensus forecast. Shares of Boston Scientific ticked up nearly 7% to $73.66 apiece in early-morning trading today. They got as high as $74.39 during the day, marking a 52-week best for the company. MassDevice’s MedTech 100 Index — […]
Titan Medical progresses with Conavi merger
Titan Medical today provided a progress update regarding its planned merger with surgical guidance technology company Conavi Medical. The companies entered into a definitive amalgamation agreement to combine in an all-stock transaction last month. They aim to commercialize Conavi’s Novasight Hybrid system for guiding common minimally invasive coronary procedures. Conavi Medical designs, manufactures and markets imaging […]
Intuitive beats the Street in Q1, increases procedure volume forecast
Intuitive Surgical posted first-quarter results today that exceeded the consensus forecast on Wall Street while increasing its forecast for full-year procedure growth. The Sunnyvale, California-based surgical robotics leader reported profits of $545 million, or $1.51 per diluted share, for the three months ended March 31, 2024, up 53% from the first quarter of 2023. Total […]
Intuitive’s da Vinci 5 surgical robot has analysts confident in future growth
William Blair analyst Brandon Vazquez has increased confidence in Intuitive after viewing the new da Vinci 5 system at SAGES 2024. Vazquez said in a report that he has increased confidence in the company’s ability to drive growth over the next 5-10 years. He was particularly impressed with the system’s efficiency improvements and haptic feedback. […]
Analysts remain high on ResMed despite potential sleep apnea benefits from GLP-1s
William Blair analysts say that new data supporting the use of GLP-1s in patients with sleep apnea shouldn’t displace companies like ResMed in the market. GLP-1 receptor agonists, like Ozempic and Wegovy, provide therapy for diabetes and can lead to weight loss. Beyond impacting the diabetes industry, questions have arisen over their overall impact on […]
Abbott increases guidance on strong Q1 results, reports progress on Volt PFA system
Abbott shares fell this today despite first-quarter results that came in ahead of the consensus forecast. Shares of ABT fell more than 3% to $105.81 apiece by later afternoon trading today. MassDevice’s MedTech 100 Index — which includes stocks of the world’s largest medical device companies — dipped slightly. The Abbott Park, Illinois-based medtech giant […]