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) […]
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Stryker launches direct-to-patient marketing campaign for Mako surgical robot
Stryker announced today that it launched a nationwide, direct-to-patient marketing campaign. The “Scan. Plan. Mako Can.” marketing campaign aims to drive patient awareness of its Mako SmartRobotics platform. The surgical robotic system offers an option for those who need joint replacement surgery due to arthritis of the knee or hip. “‘Scan. Plan. Mako Can.’ is […]
Fast Five: Smith+Nephew CFO steps down, Outset Medical pauses shipments for Tablo accessory
Welcome to the MassDevice Fast Five medtech news podcast, the show that keeps you up-to-date on the latest breakthroughs in medical technology. Here’s what you need to know for today, August 4, 2023. Fast Five by MassDevice · Smith+Nephew CFO steps down, Outset Medical pauses shipments for Tablo accessory Movano is submitting its smart ring […]
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 […]
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 […]
Vicarious Surgical looks to raise $45M from public offering
Vicarious Surgical (NYSE:RBOT) announced that it priced an underwritten public offering worth approximately $45 million in proceeds. Waltham, Massachusetts–based Vicarious’ offering includes 45 million shares of its Class A common stock priced at $1 per share. Additionally, the company granted underwriters a 30-day option to purchase up to an additional 6.75 million shares of common […]
Butterfly Network posts Q2 results, announces new AI marketplace
Butterfly Network (NYSE:BFLY) shares rose today on second-quarter results that topped the consensus forecast. Shares of BFLY ticked up 3.8% at $2.44 apiece in midday trading today. MassDevice’s MedTech 100 Index, which includes stocks of the world’s largest medical device companies, dipped 0.7%. The Burlington, Massachusetts–based handheld ultrasound developer posted losses of $28.7 million, equalling […]
Henry Schein to buy Shield Healthcare in homecare products play
Henry Schein announced today that it will acquire a majority stake in homecare medical products supplier Shield Healthcare. Henry Schein officials see the move as bolstering the company’s commitment to facilitating a continuum-of-care delivery model. Shield Healthcare (Valencia, California) operates in the homecare medical supplies space, posting net sales of around $180 million in 2022. […]
Outset Medical pauses shipments for Tablo accessory as it awaits FDA clearance, stock sinks
Outset Medical shares took a hit after the at-home dialysis tech company announced a shipment hold within its second-quarter results. Shares of OM fell 12.7% at $16.91 apiece in after-hours trading after the release of the news yesterday evening. By midday today, OM shares had recovered slightly, down more than 10% to $17.27 apiece MassDevice‘s […]