Say hello to MassDevice +3, a bite-sized view of the top three medtech stories of the day. This feature of MassDevice.com’s coverage highlights our 3 biggest and most influential stories from the day’s news to make sure you’re up to date on the headlines that continue to shape the medical device industry.
3. Intuitive Surgical shares jump after hours on Street-beating Q2
Shares of Intuitive Surgical jumped nearly 5% in after-hours trading today on 2nd-quarter results that handily beat expectations on Wall Street.
The Sunnyvale, Calif.-based robot-assisted surgery device maker reported profits of $134.5 million, or $3.56 per share, on sales of $586.1 million for the 3 months ended June 30, representing a 29.3% bottom-line gain on sales growth of 14.4% compared with Q2 2014. Read more
2. Abbott’s medical device sales slump 6%
Abbott edged past Wall Street’s forecast with its 2nd-quarter results, despite a -6% slump for its medical device business, buoyed by a more than 31% boost from its established pharmaceuticals division.
The Abbott Park, Ill.-based healthcare giant posted profits of $784 million, or 52¢ per share, on sales of $5.17 billion for the 3 months ended June 30. Abbott also stood fast on its guidance for full-year earnings per share at $1.50 to $1.60, with adjusted EPS at $2.10 to $2.20. Read more
1. St. Jude Medical confirms $3.4B Thoratec buyout
St. Jude Medical and Thoratec confirmed that St. Jude agreed to acquire Thoratec for $3.4 billion.
The terms of the deal call for St. Jude to pay $63.50 in cash for each share of Pleasanton, Calif.-based Thoratec, funded using term loans and senior unsecured debt, Little Canada, Minn.-based St. Jude said. Read more
The post MassDevice.com +3 | The top 3 medtech stories for July 22, 2015 appeared first on MassDevice.
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