Steris (NYSE:STE) said today that it expects to close the $2 billion merger with the U.K.’s Synergy Health next week, reporting fiscal 2nd-quarter numbers that beat expectations on Wall Street despite a -72% bottom-line plunge. Last month a federal judge today shot down the U.S. Federal Trade Commission’s bid to block the pending, $1.9 billion merger. Today Steris said it […]
MassDevice Earnings Roundup
Abiomed’s fiscal Q2 beat-n-raise not enough for investors
Investors drove Abiomed (NSDQ:ABMD) shares down nearly 29% today despite fiscal 2nd-quarter results that beat expectations on the back of a 47.5% top-line gain. The Danvers, Mass.-based heart pump maker posted profits of $7.7 million, or 17¢ per share, on sales of $76.4 million, for profit growth of 101.5% compared with the same period last […]
HeartWare looks to get MVAD program back on track
HeartWare International (NSDQ:HTWR) said today that it’s on track to restart a CE Mark trial for its MVAD implantable heart pump. Investors initially pared 30.0% from HTWR shares after the company said Oct. 12 that it might not be able to resume the trial as soon as was expected. Framingham, Mass.-based HeartWare, which put a hold on enrollment in its CE […]
Zimmer Biomet’s Q3 tops forecasts
Zimmer Biomet (NYSE:ZBH) shares gained today after the orthopedics giant reported 3rd-quarter results that topped expectations and raised its earnings outlook for the rest of the year. Warsaw, Ind.-based Zimmer Biomet posted profits of $22.2 million, or 11¢ per share, on sales of $1.76 billion for the 3 months ended Sept. 30, for a bottom-line slide […]
Smith & Nephew puts up $275m for Blue Belt, misses with Q3 top line
Smith & Nephew (NYSE:SNN) said today that it agreed to acquire robot-assisted surgery company Blue Belt Technologies for $275 million, but missed top-line expectations for the 3rd quarter. Minneapolis-based Blue Belt makes the portable Navio system, which is designed to work with 8 different knee systems, including Smith & Nephew’s Zuk and Journey Uni devices. The London-based medical products giant, […]
Boston Scientific boosts guidance after strong Q3
Boston Scientific (NYSE:BSX) today beat forecasts for its 3rd-quarter results, despite a swing to red ink, and raised its outlook for the rest of the year. Marlborough, Mass.-based Boston Scientific posted losses of -$198.0 million, or -15¢ per share, for the 3 months ended Sept. 30, as litigation charges surged 228.8% to $457 million for the […]
NuVasive reports strong Q3, near miss on Street EPS
NuVasive Inc. (NSDQ:NUVA) reported a strong 3rd quarter performance, seeing huge gains compared to 2014 for sales and earnings per share while beating revenue and nearly hitting EPS Street expectations. NuVasive reported profits of $13 million, or 26¢ per share, on sales of $201 million for the 3 months ended September 30. That amounts to a massive […]
Novartis: Alcon reorg on tap for 2016
(Reuters) — Novartis (NYSE:NVS) has agreed in principle to pay $390 million to settle U.S. allegations that it used kickbacks to speciality pharmacies to push sales of some drugs, the Swiss company said today, hitting 3rd-quarter earnings. The U.S. Justice Dept. had sued Novartis in a Manhattan federal court, saying the world’s biggest seller of prescription drugs sought […]
UPDATE: Baxter ticks up on Q3 beat, plans to lay off 1,400
UPDATED Oct. 27, 2015, with layoff news. Baxter (NYSE:BAX) shares ticked up on Wall Street today after the medical products giant beat expectations with its 3rd-quarter results and raised its earnings outlook for the rest of 2015, despite a quarterly profit slide of nearly 100%. Deerfield, Ill.-based Baxter also plans to cut about 1,400 jobs by […]
Edwards Lifesciences beats Q3 forecasts, raises outlook
Edwards Lifesciences (NYSE:EW) handily beat expectations for its 3rd quarter yesterday and raised its earnings outlook for the rest of the year, sending share prices up about 5% this morning. Irvine, Calif.-based Edwards posted profits of $118.1 million, or $1.07 per share, on sales of $615.5 million for the 3 months ended Sept. 30, for profit […]
Endologix, TriVascular Technologies ink $211m merger
Endologix (NSDQ:ELGX) and TriVascular Technologies (NSDQ:TRIV) yesterday said they plan to merge in a cash-and-stock deal worth $211 million. If consummated, the deal would unite 2 of the stent graft market’s smaller players. Both companies makes devices for treating abdominal aortic aneurysms; Irvine, Calif.-based Endologix makes 2 lines of stent grants, the Nellix and AFX devices, while […]