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.
The stock was trading at $63.79 per share as of about 12:50 p.m. today, down 0.1%.
Stryker reported a nearly 33% drop in net income for the 4th quarter on expected charges related to the Rejuvenate and ABG II modular-neck hip stems recall, but managed to end 2012 on an up note.
The Kalamazoo, Mich.-based company reported net income of $270 million, or 71¢ per share, on $2.34 billion in sales during the last 3 months of the year, a dramatic drop from a $401 million profit on $2.21 billion in sales posted during Q4 2011.
Excluding the $133 million recall charge, Stryker’s Q4 adjusted earnings per share jumped 12% to $1.14, beating analysts’ $1.11-$1.13 expectation.
JDRF, Calif. Inst. for Regenerative Medicine drop $6M on ViaCyte
JDRF and the California Institute for Regenerative Medicine said they’ll each put $3 million toward ViaCyte’s stem cell-based therapy for Type 1 diabetes.
NxStage Medical goes direct-to-consumer with home dialysis device
NxStage Medical (NSDQ:NXTM) said it’s inaugurated a push to market the benefits of its System 1 home hemodialysis device, "to increase awareness about the benefits of home hemodialysis (HHD) and advocate for reimbursement policy changes with the Centers for Medicare and Medicaid Services."
Boston Scientific details HQ move
Groundbreaking for the 2nd phase of Boston Scientific‘s (NYSE:BSX) move from Natick, Mass., to nearby Marlborough is slated to begin in April, Marlborough mayor Arthur Vigeant said this week. The company has already put about $100 million into the site, which measures about 504,000 square feet. Another $6 million in improvements are being finished now, a company spokesman told the mayor.
EnteroMedics dives on failed trial, despite lower losses
EnteroMedics (NSDQ:ETRM) managed to pare its 4th-quarter and full-year losses, but a failed trial of its Maestro neurostimulation weight loss device pushed shares down more than 5% this week.
The St. Paul, Minn.-based medical device company reported losses of $7.0 million, or 17¢ per share, for the 3 months ended Dec. 31, 2012, down 12.8% and 22.7%, respectively, compared with Q4 2011. Full-year losses fell 9.8% to $23.5 million, or 59¢ per share, itself a 31.4% reduction.
Investors were not reassured, sending ETRM shares to $1.16 as of about 1:10 p.m. today, down 5.7%.
- Amgen (NSDQ:AMGN): William Blair downgrades from "outperform" to "market perform" rating.
- Boston Scientific (NYSE:BSX): Barclays reiterates “overweight” rating, $8 price target; Deutsche Bank raises price target from $6.70 to $7.20, maintains "hold" rating; Deutsche Bank raises price target from $6.70 to $7.20, maintains "hold" rating; Leerink Swann maintains "market perform" rating, raises price target from $7 to $8; Stifel Nicolaus raises price target from $8 to $9, maintains "buy" rating.
- Cynosure (NSDQ:CYNO): Leerink Swann reiterates “ouperform” rating, increases price target to $36 from $31.
- Hospira (NYSE:HSP): Leerink Swann maintains “market perform” rating, lowers price target to $31-$32 from $33-$34.
- Medtronic (NYSE:MDT): Lazard Capital Markets downgrades "neutral" rating; Leerink Swann reiterates "market perform" rating, increases price target to $48 from $43.
- Sirona Dental Systems (NSDQ:SIRO): Stifel Nicolaus raises price target from $71 to $80, maintains “buy” rating
- Syneron Medical Ltd. (NSDQ:ELOS): Leerink Swann reiterates “outperform” rating, raises price target to $17 from $16-$17.
- Unilife (NSDQ:UNIS): Jefferies maintains "buy" rating, lowers price target from $5 to $3.50; Leerink Swann maintains "outperform" rating, $5-$6 price target.