Globus Medical (NYSE:GMED) is letting go of 157 workers at NuVasive’s former headquarters campus in San Diego, according to a WARN report filed with the state of California. The notice, dated Jan. 3 and shared by the California Employment Development Department with MassDevice, says the campus will stay open. Workers received notice of the layoffs on […]
Wall Street Beat
CVRx stock dips despite Street-beating Q4
CVRx (Nasdaq:CVRX) shares took a hit today despite fourth-quarter results that beat the consensus forecast. Shares of CVRx fell 5.2% at $27.69 apiece in mid-afternoon trading today. MassDevice’s MedTech 100 Index — which includes stocks of the world’s largest medical device companies — rose 0.2%. The Minneapolis-based neuromodulation technology developer posted losses of $9.2 million. […]
ResMed stock rises on Street-beating Q2
ResMed shares ticked up today on second-quarter results that came in ahead of the consensus forecast. Shares of RMD increased by 6.6% to $183.16 apiece in early-morning trading today. MassDevice’s MedTech 100 Index — which includes stocks of the world’s largest medical device companies — rose by 1%. The San Diego-based sleep respiratory device maker […]
Intuitive seeks FDA clearance for its next-gen da Vinci 5
Intuitive Surgical has submitted for FDA 510(k) clearance of its next-generation da Vinci 5 multiport surgical robot. The da Vinci 5 will join Intuitive’s existing da Vinci robotic surgical system portfolio alongside the multiport X and Xi systems and the single-port SP. There is also Ion, Intuitive’s robotic-assisted platform for minimally invasive biopsy in the […]
Abbott reports double-digit growth across Medical Devices in Q4 as Diabetes, EP lead the way
Abbott today reported fourth-quarter earnings that included double-digit revenue growth across its entire Medical Devices unit. Shares of ABT fell more than 2% to nearly $111 apiece in morning trading. MassDevice’s MedTech 100 Index — which includes stocks of the world’s largest medical device companies — was down slightly. The Abbott Park, Illinois–based medtech giant […]
3M says Health Care spinoff still on track
3M stock was down this morning after the company’s 2024 earnings forecast failed to meet expectations. The Maplewood, Minnesota–based manufacturing giant also said it remains on track to spin off 3M Health Care as a new company called Solventum during the year’s first half. “The spin is on track to be completed in the first […]
Johnson & Johnson MedTech reports 13% sales uptick in Q4, has positive ablation outlook
Johnson & Johnson reported more MedTech growth as its fourth-quarter results came in slightly ahead of the consensus forecast. Shares of JNJ were down more than 2% to $158.68 apiece in morning trading. MassDevice‘s MedTech 100 Index was down slightly. The New Brunswick, New Jersey-based company posted profits of $4.1 billion. That equals $1.70 per share on […]
How does medtech CEO compensation compare?
Medtech CEO compensation averaged $10.5 million during the companies’ most recent fiscal years. That number from our recent MassDevice analysis may seem like a lot to an average person — but not as much in the world of corporate CEOs. In fact, the average compensation of S&P 500 company CEOs was $25.2 million in 2022, […]
Orthofix has a new CFO as Massimo Caliafiore takes over as CEO
Orthofix Medical announced that it appointed a new CFO as its newly appointed CEO takes over the corner office. The large orthopedic device maker appointed Julie Andrews as CFO as Massimo Calafiore assumes his position as CEO. Orthofix named Calafiore as its next CEO in November. However, the company had to wait until Enovis completed […]
AtriCure management expects Street-beating Q4 sales
AtriCure today announced preliminary fourth-quarter revenue results that beat the expectations of Wall Street analysts. The Mason, Ohio–based developer of surgical tools for atrial fibrillation (Afib), left atrial appendage (LAA) management and post-operative pain management expects to report Q4 2023 revenue of $106.5 million, up 21% year-over-year. The consensus on The Street was $102.43 million. […]
iRhythm releases strong Q4 prelims, strengthens balance sheet
iRhythm Technologies today released a solid preliminary earnings update that included projections of up to 20% revenue growth in 2024. The wearable cardiac monitors developer saw IRTC shares jump more than 7% in value to $112.91 apiece by the close of trading today. MassDevice‘s MedTech 100 Index, which includes stocks of the world’s largest medical […]