Medtech stocks continue to fluctuate amid the COVID-19 pandemic, with a significant dip in the shares belonging to the industry’s biggest names. MassDevice’s MedTech 100 Index — which includes stocks of the world’s largest medical device companies — sat at 81.88 points at the end of last week (June 26). That total represents a -3.7% decrease […]
Henry Schein execs extend pay cuts
Henry Schein (NSDQ:HSIC) announced that it is continuing certain cost reduction measures, including payroll cuts, amid the COVID-19 pandemic. The Melville, N.Y.-based medical device maker said in a news release that chairman and CEO Stanley Bergman agreed to extend his prior agreement to a temporary reduction of 100% of his base salary from April 6, 2020, […]
U.S. senators demand investigation of Trump COVID-19 supply chain effort
Three U.S. senators today demanded an investigation into Project Air Bridge, a Trump administration supply chain management project to import personal protective equipment (PPE) and other medical supplies during the COVID-19 pandemic. Dubbing the project “opaque,” U.S. Senators Elizabeth Warren (D-Mass.), Chuck Schumer (D-N.Y.) and Richard Blumenthal (D-Conn.) also released new documents and information from […]
MedTech 100 roundup: Stocks open strong in May
Medtech stocks took a dip as April came to a close, but opened May with a strong week as the COVID-19 pandemic continues to affect the economy. MassDevice’s MedTech 100 Index — which includes stocks of the world’s largest medical device companies — sat at 83.98 points at the end of last week (May 8). That […]
Henry Schein medical sales lead to Street-beating Q1
Henry Schein (NSDQ:HSIC) shares got a boost today on first-quarter results that topped the consensus forecast as medical sales boomed. The Melville, N.Y.-based company posted profits of $130.3 million, or 91¢ per share, on sales of $2.4 billion for the three months ended March 28, 2020, for an 18.7% bottom-line gain on sales growth of 2.9%. […]
BD to launch point-of-care COVID-19 antibody test
Becton Dickinson (NYSE:BDX) yesterday announced a new point-of-care test that can detect antibodies in blood to confirm current or past exposure to COVID-19 in as little as 15 minutes. The new test, developed and manufactured by BioMedomics (Morrisville, N.C.), will be available through BD and distributed exclusively by Henry Schein (NSDQ:HSIC) to healthcare providers throughout the […]
How will coronavirus affect medtech companies that rely on elective surgeries?
One thing is likely to hurt some medtech companies more than others during the coronavirus pandemic: an elective surgical procedure slowdown. This thought had begun to emerge last week among industry watchers, but a pair of tweets over the weekend gained thousands of “likes” and retweets. The American College of Surgeons called for hospitals to […]
Medical device company stocks aren’t immune from coronavirus
Major U.S. medical device company stocks have generally performed as poorly as others over the past two weeks as the global coronavirus outbreak drive markets down. Among 20 of the largest U.S. companies on Medical Design & Outsourcing and MassDevice‘s annual Big 100 list, both the average and median decline in price was roughly 17% […]
How medtech companies are responding to the deadly coronavirus outbreak
Medical device companies all over have felt the impact of the coronavirus pandemic that originated in China. The latest figures from the World Health Organization (WHO) show that at least 600 people have died — almost all of them in China — with tens of thousands of confirmed coronavirus cases in dozens of countries. Demand […]
Boston Scientific wins a round in patent spat with Micro-Tech
A federal judge in Delaware ruled yesterday that Boston Scientific may proceed in its patent dispute with Micro-Tech over hemostatic endoscopy clips. Boston Scientific filed the lawsuit against Micro-Tech USA and its Chinese manufacturer, Micro-Tech Nanjing, alleging that they infringed three of its patents for endoscopic hemostatic clips. Henry Schein (Melville, N.Y.) is named as […]
Henry Schein shares up after beating Street projections
Henry Schein (NSDQ:HSIC) shares are up today on third-quarter results that topped the consensus forecast. The Melville, N.Y.–based company posted profits of $148.9 million, or 91¢ per share, on sales of $2.51 billion for the three months ended Sept. 28, for a 15.7% bottom-line gain on sales growth of 6.5%. Adjusted to exclude one-time items, earnings […]
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