Acutus Medical (Nasdaq:AFIB) reported positive second-quarter results, with some future plans that got analysts excited. Shares of AFIB rose 0.8% at 68¢ apiece in mid-afternoon trading today. MassDevice’s MedTech 100 Index — which includes stocks of the world’s largest medical device companies — fell 2.1%. BTIG analysts Marie Thibault and Sam Eiber maintained a “Buy” […]
Wall Street Beat
Embecta increases 2023 guidance, reports closed-loop insulin delivery tech progress
Embecta (Nasdaq:EMBC) shares rose this morning as it increased its full-year guidance and shared an update on its automated insulin delivery technology. The company also reported third-quarter results that came in ahead of the consensus forecast. Shares of EMBC ticked up 3.1% at $22.27 apiece in early-morning trading today. MassDevice’s MedTech 100 Index — which […]
Tivic Health prices $1.4M common stock offering ahead of special stockholder meeting
Tivic Health (Nasdaq:TIVC) announced that it priced a public offering of common stock at $1.4 million. San Francisco-based Tivic intends to offer 33.173 million shares of common stock at $0.041 per share. The company plans to use the net proceeds for working capital and general corporate purposes. Tivic expects the offering to close on or […]
Henry Schein reports mixed Q2 as dental sales rise, medical revenues decline
Henry Schein shares fell this morning on second-quarter results that came in mixed compared to the consensus forecast. Shares of HSIC dipped 2.5% at $76.11 apiece during early-morning trading today. MassDevice’s MedTech 100 Index — which includes stocks of the world’s largest medical device companies — rose 0.5%. The Melville, New York-based dental technology company […]
Owens & Minor stock rises on Q2 results
Owens & Minor (NYSE:OMI) shares rose today on second-quarter results that included a big three months for its Patient Direct business. Shares of OMI ticked up 1% at $18.96 apiece in midday trading today. MassDevice’s MedTech 100 Index — which includes stocks of the world’s largest medical device companies — rose 0.2%. The Richmond, Virginia-based […]
ResMed shares near 52-week low after disappointing results
ResMed shares are down on fourth-quarter sales and profits that missed Wall Street’s expectations. The device manufacturer’s stock was trading around $183.58 per share near noon, approaching the 52-week low of $181.50. The stock hasn’t closed below $188 since April 2021, when competitor Philips initiated a recall of millions of continuous positive airway pressure (CPAP) […]
Globus Medical beats The Street in Q2 as it prepares for spine tech merger
Globus Medical (NYSE: GMED) reported second-quarter results that beat analyst expectations, upping its full-year sales guidance as it prepares to merge with NuVasive. The news yesterday evening came a day after NuVasive reported mixed results heading into the merger, which would create the world’s second-largest spine tech company after Medtronic. The CEOs of both Globus Medical […]
Stryker surpasses Q2 forecasts, boosts full-year outlook
Stryker this evening reported second-quarter results that beat the Wall Street consensus forecast, prompting it to up its full-year guidance. The Kalamazoo, Michigan–based orthopedic device giant reported an 11.2% year-over-year increase in Q2 sales to $5.0 billion, surpassing the analysts’ anticipated revenue of $4.82 billion. Earnings were up 12.% to $738 million for the quarter […]
iRhythm sales are up more than 20% amid increasing Zio demand
iRhythm shares rose after hours today on second-quarter results that topped the consensus forecast. Shares of IRTC ticked up 5.6% to $103 apiece after the market closed on Thursday. MassDevice’s MedTech 100 Index — which includes stocks of the world’s largest medical device companies — closed the day down 0.8%. At midday on Friday, shares […]
Tandem resets 2023 guidance due to reduced sales visibility from new product disruption
Tandem Diabetes Care (Nasdaq:TNDM) shares took a hit on second-quarter results that included amended full-year financial guidance. Changes to the automated insulin delivery technology maker’s outlook reflect updates to its portfolio and reduced visibility on sales for the near future. Shares of TNDM fell 15% to $27.19 apiece after the market closed today. MassDevice’s MedTech 100 Index — […]
Weight loss balloon maker Allurion goes public on NYSE through SPAC merger
Allurion Technologies announced that it completed a SPAC merger and began trading on the New York Stock Exchange. Natick, Massachusetts-based Allurion went public on Aug. 2 under the ALUR ticker. The business combination took place with Compute Health Acquisition Corp, a special purpose acquisition company (SPAC). Allurion develops an artificial intelligence-powered weight loss program. Its program […]
