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.
Sorin Group (BIT:SRN) reported flat sales but strong profit growth for 2011, saying it raised earnings by 48.3% and revealing that the cardiac rhythm management slump has made its way across the pond.
The Italian medical device maker posted net income of €58.0 million (~$75.2 million) on sales of €743.4 million (~$963.4 million) for the year ended Dec. 31, 2011. That compares with profits of €39.1 million (~$50.7 million) on sales of €745.8 million (~$966.5 million) during 2010.
Investors on Wall Street shrugged off the $51 million hit to C.R. Bard’s (NYSE:BCR) bottom line from a legal settlement, bumping shares up about 2% today.
Baxter International Inc. (NYSE:BAX) said it now expects to post earnings of at least $4.29 per share this year, after logging strong third-quarter results.