Healthcare giant Johnson & Johnson (NYSE:JNJ) expects to incur a charge of about $100 million in its 1st quarter of 2013 due to the negative impact of the Venezuelan government’s decision to devalue its currency, the company reported in a regulatory filing.
The charge amounts to a per-share impact of about 4¢ in Q1, but is not expected to impact full-year earnings-per-share guidance, the company noted.
The Venezuelan government decided to devalue its bolivar currency by 32%, effective February 13, 2013, a decision that was made prior to the death of Venezuelan President Hugo Chavez this week.
CareFusion offers $300M in notes
Medical device maker CareFusion (NYSE:CFN) launched a $300 million private offering comprised of senior notes, the funds from which will be used for "general corporate purposes." Read more
Stryker launches accelerated $250M share repurchase program
Kalamazoo, Mich.-based orthopedic device giant Stryker (NYSE:SYK) announced an accelerated $250 million common stock repurchase program, which is part of the $1 billion share repurchase authorized by Stryker’s board of directors in December. Read more
Intuitive Health lands $3.4M investment for remote monitoring
Texas-based patient monitoring devices maker Intuitive Health raised nearly $3.4 million from 8 investors in a funding round launched late last year. The company is in "stealth mode," and offered few details regarding the financing. Read more
GE Healthcare expands partnership for ultrasound sales in Japan
GE Healthcare (NYSE:GE) expanded its partnership with revenue management firm ServiceSource to include Japan, totaling 11 countries where the duo have a sales relationship for ultrasound equipment. Read more
Analysts’ ups and downs
- Intuitive Surgical (NSDQ:ISRG): TheStreet reaffirms “buy” rating
- Intuitive Surgical (NSDQ:ISRG): Northland Capital initiates coverage with “under perform” rating and $400 price target
- Intuitive Surgical (NSDQ:ISRG): SunTrust restates "buy" rating, $649 price target.
- Intuitive Surgical (NSDQ:ISRG): Cantor Fitzgerald raises price target from $550 to $575, upgrades from “hold” to “buy” rating
- Mindray (NYSE:MR): Jeffries downgrades from "buy" to "hold" rating, increases price target from $36 to $43
- NxStage Medical (NSDQ:NXTM): Feltl & Co. lowers price target from $13 to $11.50, maintains “hold” rating
- NxStage Medical (NSDQ:NXTM): Cannacord Genuity raises price target from $17 to $18
- NxStage Medical (NSDQ:NXTM): Piper Jaffray lowers price target from $18 to $16, maintains “overweight” rating
- TranS1 (NSDQ:TSON): Piper Jaffray lowers price target from $5 to $4, maintains “overweight” rating
- Wright Medical (NSDQ:WMGI): Jeffries raises price target from $21 to $24, maintains “hold” rating
