As the dust settles after another earnings season, it’s time to look back at what we now know about the state of the industry. Stocks in the sector have been enjoying a run that started in November 2012 on hopes for improving utilization trends and earnings in 2013.
Wall Street Beat
PostiveID bails on iGlucose technology, licenses out for $2M
PositiveID (OTC:PSID) licensed its iGlucose technology for a cool $2 million to Smart Glucose Meter Corp. as part of its shift toward molecular diagnostics.
The deal, valued at up to $2 million, could be worth up to $5 per patient per year for Smart Glucose Meter, according to a regulatory filing.
Investors yawn at latest Citron jab, send Intuitive Surgical shares up
Investors, who sent shares of Intuitive Surgical (NSDQ:ISRG) down 10% the 1st time Citron Research issued a negative report on the medical device company, yawned today at a 3rd missive from the short seller.
ISRG shares were up slightly as of about 3:30 p.m. today to $561.07 apiece, despite Citron’s repeated assertion that the stock is headed for $300 per share.
Boston Scientific’s APAC VP on the playbook for China and India
In the summer of 2011, Boston Scientific (NYSE:BSX) committed $150 million to a 5-year plan to expand its Chinese operations, aiming to increase its workforce there 6-fold to more than 1,200 boost its R&D and clinical study spend.
Cytomedix touts $28M 2013 funding plan, drops 20% on The Street
Medtronic cuts estimated medical device tax impact in half
Terumo jilts Boston Scientific to launch solo urology unit
Hospira lowers 2013 forecast after FDA bans more infusion pump imports
Stryker hits a 52-week high | Wall Street Beat
Shares of Stryker (NYSE:SYK) hit a 52-week high yesterday, peaking at $64.46 apeice before closing at $63.88, down 0.2% on the day.
STK shares are up about 3% since the medical device company reported 4th-quarter and 2012 results Jan. 24. Stryker said yesteday that it plans to issue a 26.5¢ dividend to shareholders.
Cardinal Health to drop $2B on AssuraMed
Cardinal Health (NYSE:CAH) said it plans to spend $2.07 billion aquiring medical supplies company AssuraMed, which itself just bought Invacare’s supplies business last month.
A “new era” for Boston Scientific?
Boston Scientific (NYSE:BSX) expects positive sales growth for the company by the 2nd half of 2013, CFO Jeffrey Capello told MassDevice.com in an interview.
A return to positive sales growth would end nearly 2.5 years of sliding revenues, and the medical device maker still has some rough patches to navigate, he said.