Royal Philips (NYSE:PHG) shares ticked up today on third-quarter results that came in ahead of the consensus forecast. The Amsterdam-based company posted profits of €340 million, or €0.37 per share, on sales of €5 billion for the three months ended Sep. 30, 2020, for a 63.5% bottom-line gain on sales growth of 5.9%. Adjusted to exclude […]
Wall Street Beat
MedTech 100 roundup: Industry continues its ascent
Stocks in the medtech industry maintained their upward trajectory, topping last week’s peak with yet another rise to new heights. MassDevice’s MedTech 100 Index — which includes stocks of the world’s largest medical device companies — finished last week at 95.66 (Oct. 16), marking a 0.6% gain from the 95.05 points registered at the end of […]
DTW Podcast: Who will win medtech’s own Supreme Court fight; and can the many mini Medtronics plan work?
In this week’s DeviceTalks Weekly podcast, we’ll first delve into Medtech’s own brewing Supreme Court battle. J. Michael Jakes, a partner at Finnegan, will tell us why the industry should be watching when the Supremes review the latest patent battle between Arthrex and Smith+Nephew. We’ll also talk about Medtronic’s Analyst Meeting where CEO Geoff Martha […]
Eargo soars after announcing $141.3M IPO
Hearing device developer Eargo announced today that it priced its initial public offering of common stock at approximately $141.3 million. Beginning trading on the Nasdaq market today under the EAR ticker, shares were trading up 102.22% at $36.40 per share in late-afternoon trading. San Jose, Calif.-based Eargo is offering more than 7.85 million shares of its […]
Intuitive Surgical up on mixed bag Q3
Intuitive Surgical (NSDQ:ISRG) shares ticked slightly up today on third-quarter results that were mixed compared to the consensus forecast. The Sunnyvale, Calif.-based company posted profits of $313.9 million, or $2.60 per share, on sales of $630.6 million for the three months ended Sept. 30, 2020, for a massive bottom-line gain from $68 million in profits this […]
Boston Scientific shares slide on TAVR study results
Shares in Boston Scientific (NYSE:BSX) slid nearly 4% on news that the rates of cardiac death in patients implanted with its Acurate Neo heart valve were significantly higher than those in patients who received Medtronic’s (NYSE:MDT) CoreValve Evolut. The head-to-head SCOPE II study, presented today at TCT Connect, the 32nd annual scientific symposium of the Cardiovascular Research Foundation, […]
EOS Imaging down despite Q3 sales growth
EOS Imaging (EPA:EOSI) shares took a dip today despite year-over-year third-quarter revenue increases. The Paris-based orthopedic medical imaging and software technology developer posted sales growth of 3.3%, bringing in quarterly revenues of €6.4 million. At the nine-month mark in the fiscal year, the company is reporting €16.2 million in total revenues, marking 32% growth from last […]
Aferetica, CytoSorbents gain EU nod for organ perfusion system
CytoSorbents (NSDQ:CTSO) and Aferetica today announced the European Union approval of Aferetica’s PerLife integrated ex-vivo system to perfuse, cleanse, recondition and preserve harvested kidneys and livers — including those that are usually discarded. Italian startup Aferetica designed its PerLife system is to improve organ function and viability while reducing the risk of primary graft failure and organ rejection. […]
Medtronic CEO Geoff Martha: ‘Time to be bold and add grit’
Medtronic (NYSE:MDT) CEO Geoff Martha has no intention of slowing the medtech giant down amid the COVID-19 pandemic. Speaking during the Fridley, Minn.-based company’s “Investor Day” virtual presentation, Martha made one thing clear: “We are going on the offensive,” Martha said at the start and echoed throughout the program. About six months into his tenure as […]
Medtronic launches head-to-head TAVR study against Edwards
Medtronic (NYSE:MDT) today announced it will begin a randomized, head-to-head study comparing two transcatheter aortic valve replacement (TAVR) systems in patients with severe symptomatic aortic stenosis (ssAS), primarily in women. The postmarket SMART trial will compare valve safety and performance of the self-expanding Medtronic Evolut PRO and PRO+TAVR Systems against Edwards Lifesciences’ (NYSE:EW) balloon-expandable SAPIEN 3 and […]
Vaccine trial pause sees Johnson & Johnson dip despite strong Q3
Johnson & Johnson (NYSE:JNJ) shares ticked down despite third-quarter results that came in well ahead of the consensus forecast. News of the company’s COVID-19 vaccine candidate trial being put on pause after a patient illness likely played its part, as shares of JNJ were trading down -2.1% at $148.68 per share in midday trading today. The […]
