Minnesota medical device maker Vascular Solutions (NSDQ:VASC) wasn’t able to dodge a federal off-label marketing lawsuit over its Vari-Lase varicose vein treatment devices, the company revealed in its latest financial report.
2013
Medical device tax helps push Spectranetics further into the red in Q1
Colorado-based medical device maker Spectranetics (NSDQ:SPNC) broke out the red ink in 2013, blaming the swing partly on the newly implemented medtech excise tax, which requires that companies pay a 2.3% levy on all U.S. sales of applicable medical devices.
C.R. Bard’s Q1 profits plunge on $26M in transvaginal mesh legal fees
C.R. Bard (NYSE:BCR) saw its 1st-quarter profits plunge on a nearly $26 million charge stemming from the bevy of lawsuits filed against it over its transvaginal mesh products.
But the Murray Hill, N.J.-based medical device company still managed to exceed Wall Street’s expectations with its adjusted earnings, leading investors to keep BCR shares about flat today in mid-morning trading.
Edwards Lifesciences plunges on missed Q1 sales, lowered outlook
Medical device companies: A sluggish start to 1st-quarter earnings
Although there are still plenty of major healthcare companies left to report first quarter earnings, the early returns are not too positive on the sector. The themes that dominated last year, weak procedural volume and relentless pressure on pricing and reimbursement, seem very much in play. That makes margin leverage and a healthy product launch portfolio even more important in the short term.
Philips Healthcare’s Q1 profits rise despite top-line slide
Philips Healthcare (NYSE:PHG) grew its pre-tax profits by nearly 10% despite seeing its 1st-quarter sales slide 4%.
The Dutch medical device company’s parent’s overall profits slipped more than 11% on a slight sales decrease compared with the same period last year.
GE Healthcare’s Q1 profits tick up despite slight sales slide
GE Healthcare (NYSE:GE) eked out a small profit increase in the 1st quarter despite essentially flat sales, as its corporate parent reported a 16% profit rise for the 3 months ended March 31.
GE Healthcare posted Q1 profits of $595 million on sales of $4.29 billion, up 1.7% and down 0.3%, respectively, compared with Q1 2012.
Align sees some Wall Street love on strong Q1 earnings
Align Technology (NSDQ:ALGN) got a big Wall Street boost today after reporting a big increase in sales and strong growth in shipments of its flagship Invisalign product.
Intuitive Surgical slides on cautious outlook
Investors on Wall Street rewarded Intuitive Surgical‘s (NSDQ:ISRG) robust 1st-quarter results – which left The Street’s expectations in the dust – by paring nearly 3% from its share price today and another 3.3% in after-hours trading.
Danaher shares drop as Q1 earnings fall short of expectations
Abiomed gains on preliminary Q4 sales numbers
Abiomed (NSDQ:ABMD) shares jumped nearly 9% yesterday after the medical device company reported double-digit sales growth during its fiscal 4th quarter and 2013.
Danvers, Mass.-based Abiomed said preliminary sales for the 3 months ended March 31 were $43.7 million, up 17% over the $37.3 million posted during Q4 2012.
Full-year sales rose 25% to $157.1 million, compared with $126.4 million during fiscal 2012, according to a press release.