MASSDEVICE ON CALL — Medical device giant Medtronic (NYSE:MDT) is about to release its Q2 earnings report, with analysts warning ahead of the call that the numbers may miss expectations.
Wall Street Beat
Varian Medical OKs $6M share buyback for 2014
Palo Alto, Calif.-based Varian Medical (NYSE:VAR) announced today the authorization of a $6 million common stock buyback program, authorized by its board of directors.
Dynatronics seeks new sales reps as losses double in Q1 2014
Dynatronics (NSDQ:DYNT) opened its fiscal year 2014 with widening its losses on the back of a drop in sales, and the company is hoping a scaling up of its sales team will help boost its distribution channels.
Wright Medical closes $80M Biotech International buyout
Wright Medical (NSDQ:WMGI) said the $80 million buyout of French orthopedic implant maker Biotech International it announced last month is on the books and could push its full-year sales to the higher end of its guidance.
InVivo surges 56% on news of impending U.S. trial, search for strategic partnerships
PLC Systems reports revenue surge in 3rd quarter
PLC Systems (OTC:PLCSF) is cutting down on its losses, thanks in part to strong revenues during the 3rd quarter.
PLC Systems posted losses of $609,000, or -1¢ per share, on sales of $348,000 for the 3 months ended Sept. 30, narrowing losses by 81% and boosting sales 64.2% over the same period last year.
CardioDx spikes IPO
California molecular diagnostics company CardioDx spiked its initial public offering, citing "unfavorable market conditions," according to news reports.
The 5.8-million-share offering by Palo Alto-based CardioDx was slated to raise $92 million at a share price of $14-$16 apiece. The IPO, originally scheduled for yesterday, would have seen CardioDx shares trade under the "CDX" symbol.
VC beats PE in Q2
Venture capital funds topped their private equity counterparts during the 2nd quarter and both matched or beat most publicly traded equities, according to Cambridge Associates.
The Boston-based consulting firm tallies the performance of the VC and PE industries in a pair of indices culled from performance results from more than 5,400 private partnerships and their investments, according to a press release.
Underwriters add $18M to Tandem Diabetes IPO
Tandem Diabetes Care (NSDQ:TNDM) said today that the underwrites of its initial public offering picked up a 1.2 million-share over-allotment at $15 per share, adding $18 million to the IPO’s value.
Bard closes $262M Rochester Medical acquisition
C.R. Bard (NYSE:BCR) closed its $262 million acquisition of Rochester Medical yesterday, giving former Rochester stockholders $20 per share and taking ROCM shares off the NASDAQ exchange.
Kimberly-Clark hits 52-week high on news of medical device spinout
Kimberly-Clark (NYSE:KMB) said it’s planning to spin out its medical device and health products division as a separate public company, prompting investors to bid its stock up to a 52-week high yesterday and even higher today in pre-market trading.