(Reuters) — Royal Philips (NYSE:PHG) warned that the planned sale of its Lumileds division, valued at $3.3 billion, is in doubt due to U.S. national security concerns. Reporting a swing to a 3rd-quarter net profit, the company said the disposal to a consortium of mostly Chinese investors had run into unexpected opposition from the Committee on […]
MassDevice Earnings Roundup
Align Tech fires off false advertising, infringement lawsuits, releases Q3 earnings
Align Technology (NSDQ:ALGN) today announced a series of lawsuits it filed in California over patent infringement, false advertising and unfair competition as well as releasing its 3rd quarter earnings. The lawsuits, filed in the Northern District of California, are against SmileCareClub LLC, Camelot SI, SharperImage.com and Brookstone. In its lawsuit against SmileCareClub, Align asserts that the […]
Merit Medical plummets on Q3 earnings, rev misses
Merit Medical (NSDQ:MMSI) today released its 3rd quarter earnings, missing on both earnings and revenue and seeing a significant drop in share value. South Jordan, Utah-based Merit Medical reported profits of $4.8 million, or 11¢ per share, on sales of $136.1 million for the 3 months ended September 30. That amounts to a 37.9% bottom-line loss […]
Bard raises outlook after strong Q3 tops forecasts
C.R. Bard (NYSE:BCR) beat expectations with its 3rd-quarter results and raised its earnings outlook for the rest of 2015 yesterday, despite a swing to red ink. Murray Hill, N.J.-based Bard posted losses of -$86 million, or -$1.16 per share, on sales of $865.7 million for the 3 months ended Sept. 30. Although sales grew 4.3% compared […]
Stryker’s Q3 earnings soar, top expectations
Stryker (NYSE:SYK) beat expectations as its 3rd-quarter earnings soared nearly 430% and raised the low end of its outlook for the rest of the year. Kalamazoo, Mich.-based Stryker posted profits of $301 million, or 79¢ per share, on sales of $2.42 billion for the 3 months ended Sept. 30. That amounts to bottom-line growth of 428.1% […]
Abbott ticks up on Q3 beat, despite slumping device sales
Abbott (NYSE:ABT) shares ticked up today after the company reported a 3rd-quarter sales beat fueled by stronger demand from emerging markets for its generic drugs business, but sales dropped more than -7% for its medical device business compared with Q3 2015. Abbott posted profits of $580 million, or 38¢ per share, on sales of $5.15 billion […]
St. Jude Medical’s Q3 earnings meet forecasts, sales miss
St. Jude Medical (NYSE:STJ) today beat expectations for its 3rd-quarter earnings despite missing top-line forecasts, the medical device company said today. Little Canada, Minn.-based St. Jude posted profits of $215 million, or 97¢ per share, on sales of $1.34 billion for the 3 months ended Oct. 3. That represents a -9.7% profit decline on a sales […]
Intuitive Surgical Q3 earnings beat street, income up nearly 25%
Intuitive Surgical (NSDQ:ISRG) today released its 3rd quarter earnings, beating the street on revenue and earnings per share and growing sales nearly 25% compared to last year. “We are pleased with our 3rd quarter procedure growth and financial results. We believe our customers benefit from a large community of users and our technology ecosystem,” CEO Dr. Gary […]
Getinge: Resolving FDA beef less costly than thought
(Reuters) — Getinge (PINK:GETI B) last week reported its biggest quarterly order intake increase for almost 2 years, saying costs to resolve U.S. regulatory problems would be lower than previously expected. The firm has seen its profit margins eroded in recent years by slower sales growth, price pressure and quality control problems in the U.S. Order intake was 7.4 […]
GE Healthcare’s Q3 sales, profits slide
Sales and profits both slid for GE Healthcare (NYSE:GE) during the 3rd quarter, as parent company General Electric saw its overall numbers slide amid its exit from the financial services business, but the industrial conglomerate still managed to top earnings expectations. GE Healthcare posted profits of $652 million on sales of $4.26 billion for the 3 months […]
Strong dollar a drag on Johnson & Johnson’s 3rd-quarter medical device sales
The strong dollar put a -7.3% hurt on Johnson & Johnson‘s (NYSE:JNJ) medical device sales during the 3rd quarter, the company said today, reporting a -29.3% hit to the bottom line on an overall sales decline of -7.4% compared with Q3 2014. Medical device sales were $6.09 billion during the quarter, off -7.3% despite U.S. revenue growth […]