Zimmer Biomet shares are down despite fourth-quarter results that topped the consensus forecast. The Warsaw, Indiana–based orthopedics device company is shedding hundreds of jobs in a new round of restructuring. Mike Matson, senior research analyst at Needham & Co., noted ZB’s Street-beating Q4 and its above-consensus 2024 projections. Still, the company has been losing share […]
Wall Street Beat
Embecta beats The Street in Q1, raises guidance as insulin pump development moves along
Embecta (Nasdaq:EMBC) shares took a hit this morning despite Street-beating first-quarter results and increased 2024 guidance. Shares of EMBC fell 7.8% at $16.37 apiece as the market opened today. MassDevice’s MedTech 100 Index — which includes stocks of the world’s largest medical device companies — opened today relatively even. The Parsippany, New Jersey-based BD Diabetes […]
Dexcom says revenues could grow 20% in 2024
Dexcom shares dipped after hours on fourth-quarter results that came in ahead of the consensus forecast. Shares of DXCM fell 1.6% at $125 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 up 0.2%. The San Diego-based continuous glucose […]
Baxter beats The Street in Q4, kidney care spin progresses
Baxter shares ticked up today on fourth-quarter results that came in ahead of the consensus forecast. Shares of BAX rose 1.2% at $39.87 apiece in mid-morning trading today. MassDevice’s MedTech 100 Index — which includes stocks of the world’s largest medical device companies — dipped 0.2%. The Deerfield, Illinois-based company posted profits of $245 million. […]
Inspire Medical stock falls despite 40% Q4 sales growth, Wall Street beats
Inspire Medical Systems (NYSE:INSP) shares took a hit today despite fourth-quarter results that beat the consensus forecast. Shares of INSP fell nearly 7% at $210.35 apiece in midday trading today. MassDevice’s MedTech 100 Index — which includes stocks of the world’s largest medical device companies — stayed even. The Minneapolis-based maker of neuromodulation implants for […]
TAVR, Critical Care drive Edwards to Q4 sales beat
Edwards Lifesciences shares dipped slightly today on fourth-quarter results that topped the consensus sales forecast. Shares of EW fell 0.2% to $88.11 in early-morning trading today. MassDevice’s MedTech 100 Index — which includes stocks of the world’s largest medical device companies — fell 0.3%. The Irvine, California-based company posted profits of $369.9 million. That equals […]
GE HealthCare stock soars on Street-beating Q4, new 2024 guidance
GE HealthCare shares got a boost today on fourth-quarter results that came in ahead of the consensus forecast. Shares of GEHC rose by nearly 10% to $79.95 apiece in early-morning trading today. MassDevice’s MedTech 100 Index — which includes stocks of the world’s largest medical device companies — rose 0.5%. The Chicago-based company posted profits […]
Fractyl Health goes the IPO route
Fractyl Health — developer of medtech and gene therapies to reverse diabetes and obesity — began trading on the Nasdaq today under the symbol GUTS. Lexington, Massachusetts–based Fractyl Health priced its 7,333,333 shares of common stock at $15 per share, enabling it to bring in about $110 million from the IPO. The company expected the […]
FDA clears new cervical cytology AI tech from Hologic
Hologic announced that the FDA granted clearance for its Genius digital diagnostics system with the Genius cervical AI algorithm. Clearance makes Genius the first and only FDA-cleared digital cytology system combining deep learning-based AI with advanced volumetric imaging technology to help identify pre-cancerous lesions and cervical cancer cells, according to a news release. Hologic’s clearance […]
BD ups guidance but stock dips on mixed Q1 results
BD shares fell this morning on first-quarter results that came in mixed compared to the consensus forecast. Shares of BD dipped 1.2% at $235.92 apiece in early-morning trading today. MassDevice’s MedTech 100 Index — which includes stocks of the world’s largest medical device companies — rose slightly. The Franklin Lakes, New Jersey-based medtech giant posted […]
Stryker leaders expect another strong year in 2024
Stryker saw its Mako ortho surgical robot and new products drive a solid finish for 2023 — with expectations for a robust 2024. The Kalamazoo, Michigan–based orthopedic device giant saw SYK shares shoot up more than 6% to $335.67 apiece in morning trading today on the heels of the Street-beating Q4 results from yesterday evening. […]