3M Co. (NYSE:MMM) beat expectations for its 4th-quarter profits and affirmed its guidance for 2012, but Wall Street remained unmoved, with shares staying flat in this morning’s trading.
ResMed Inc.
3M’s Q3 profits slide despite sales boost | Earnings Roundup
Shares of 3M Co. (NYSE:MMM) lost nearly 6 percent today after the conglomerate reported a 1.6 percent profit slide for the third quarter and slashed its sales and earnings guidance for 2011.
3M reported profits of $1.09 billion, or $1.52 per share, on sales of $7.53 billion. That’s a top-line increase of 9.6 percent compared with Q3 2010. Wall Street analysts expected $1.61 per share for the latest quarter.
NxStage makes it to France in its global march | Deals Roundup
NxStage Medical, Inc. (NASDAQ:NXTM) announced a five-year distribution deal for its home hemodialysis products with French renal care company Theradial today.
The contract allows Theradial to provide NxStage’s System One and PureFlow dialysate preparation system to dialysis centers to its eight dialysis centers throughout France. Theradial also retains the option to sell NxStage’s Medisystems ButtonHole needles to their customers.
CareFusion acquires German robotics company for $150 million | Acquisitions roundup
CareFusion Corp. (NYSE:CFN) announced that it acquired Rowa, a Germany-based robotic medication storage company, for $150 million this week.
Rowa develops automated pharmaceutical storage and retrieval systems, which CareFusion will combine with its own Pyxis line of dispensing and security systems. Rowa’s products include refrigerated storage and a stock input and management system.
Personnel moves: CareFusion grabs ResMed CEO Gallahue
Here’s the latest personnel changes from medical device, diagnostics and life science companies around the nation.
Earnings roundup: Thoratec profits leap 58 percent
MassDevice keeps a close eye on public medical device companies, tracking their quarterly sales and earnings reports. For the most recent filings, check out our Earnings Roundup, where we collect each quarter’s reports.
Here’s a quick rundown of a few releases over the past couple days:
Sleep apnea device boosts energy
Individuals with obstructive sleep apnea may have a new therapy to relieve their symptoms of fatigue, a study shows.
Researchers at the University of California, Davis and San Diego State University tested a medical device that applies a therapy called "continuous positive airway pressure" on 59 men and women suffering from the condition. All were in their late 40s and experienced at least 10 partial or complete pauses, or apneas, during an hour of sleep.
ResMed closes stock split
ResMed Inc. (NYSE:RMD) completed a two-for-one split of the company’s stock on August 30, doubling the number of its outstanding shares of common stock.
The San Diego-based sleep apnea device maker’s number of shares now stands at about 151.4 million, excluding those held as treasury stock, according to the company.