Say hello to MassDevice +3, a bite-sized view of the top three medtech stories of the day. This feature of MassDevice.com’s coverage highlights our 3 biggest and most influential stories from the day’s news to make sure you’re up to date on the headlines that continue to shape the medical device industry.
3. Intuitive Surgical’s Q4 sales top expectations
Intuitive Surgical reported preliminary results for its 4th quarter that beat expectations on Wall Street, sending share prices up.
Sunnyvale, Calif.-based Intuitive said it expects to post sales of $677 million for the 3 months ended Dec. 31, 2015, topping the consensus outlook of $650.3 million. Read more
2. Stryker shares tick up on raised earnings outlook
Stryker shares ticked up after the medical device company raised the low end of its earnings outlook and reported 4th-quarter preliminary results that met expectations on Wall Street.
Kalamazoo, Mich. based Stryker said it now expects to post adjusted earnings per share of $5.09 to $5.12, up from prior guidance of $5.07 to $5.12. The company said it plans to issue full-year guidance Jan. 26, reflecting its decision to reinvest most of the cash it would have paid to the medical device tax. Read more
1. Medtronic buys Baylis Medical’s OsteoCool after FDA nod for spine cancer device
Medtronic said that it acquired Baylis Medical after its OsteoCool device for treating cancers that metastasize to the spine won 510(k) clearance from the FDA last year.
The original OsteoCool device 1st won 510(k) clearance in March 2012. A 2nd version landed another 510(k) in June 2015, and Montreal-based Baylis won a nod last November for the 3rd iteration. Medtronic said CE Mark approval in the European Union for the OsteoCool device is pending. Read more
