Investors sent shares of Zimmer (NYSE:ZMH) down 5% this morning in pre-market trading after the orthopedic device maker reported sales and earnings in-line with Wall Street’s expectations, but lackluster sales of hip and knee implants.
Palomar Medical Technologies Inc.
Buyout chatter pushed shares of Shire plc (FTSE:SHP) up nearly 2% in London yesterday and added 1.4% on Wall Street.
The message to Medtronic’s (NYSE:MDT) spine business from chairman and CEO Omar Ishrak was clear today: Shape up or ship out.
During a conference call with analysts to discuss the med-tech titan’s fiscal 3rd-quarter results, Ishrak said he was “not happy” that the division posted a 9% revenue decline and warned that the spine unit must raise its game or face the consequences.
Wall Street investors drove Insulet (NSDQ:PODD) shares up nearly 4% today ahead of the insulin management company’s 4th-quarter and full-year earnings statement.
Bedford, Mass.-based Insulet posted losses of $14.3 million, or 30 cents per share, on sales of $47.2 million for the 3 months ended Dec. 31, 2011, adding 70% to the top line and shaving 31.3 percent off of its losses, compared with the same period in 2010.
Zimmer Holdings (NYSE:ZMH) shares are down this morning in early trading after the orthopedics giant lowered its sales and earnings guidance for 2011 – despite beating analysts’ expectations with its third-quarter earnings.
Warsaw, Ind.-based Zimmer said third-quarter profits were $192 million, or $1.01 per share, on sales of $1.03 billion for the three months ended Sept. 30, up 5.2 percent and 6.9 percent, respectively, compared with the same period last year.
Medical device investment deals got fatter and less frequent during the second quarter, as the value of deals grew 9 percent but their number slid 17 percent, according to PricewaterhouseCoopers.
Backers pumped $841 million into med-tech firms with 90 deals during the three months ended June 30, according to the consulting firm’s MoneyTree report. That’s up 26 percent and 3 percent, respectively, over the first quarter. The industry’s share of the venture capital cash spend on life sciences last quarter ticked down to 40 percent, however, compared with Q1 numbers.
Palomar and Syneron Announce Settlement of Patent Infringement Lawsuits
Comprehensive Settlement Covers Palomar’s Lawsuits Against Candela and Syneron
A rebounding Boston Scientific Corp. (NYSE:BSX) said it plans to eliminate up to 1,400 jobs as part of a restructuring program aimed at saving between $225 million to $275 million annually by 2013.