Say hello to MassDevice +5, a bite-sized view of the top five medtech stories of the day. This feature of MassDevice.com’s coverage highlights our 5 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.
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5. St. Jude Medical ticks up on Q2 sales beat
St. Jude Medical shares are up today after the medical device company reported higher-than-expected sales for the 2nd quarter and met Wall Street’s consensus earnings forecast.
Little Canada, Minn.-based St. Jude posted profits of $238 million, or 83¢ per share, on sales of $1.56 billion for the 3 months ended July 2, for a bottom-line slide of -17.9% on sales growth of 10.8%. Read more
4. Abbott rises on Q2 earnings, sales beats
Abbott saw its stock rise today after reporting earnings and sales that came in above the consensus outlook on Wall Street.
The Abbott Park, Ill.-based healthcare giant posted profits of $812 million, or 41¢ per share, on sales of $5.33 billion for the 3 months ended June 30, for a bottom-line gain of 3.3% on sales growth of 3.2%. Read more
3. Intuitive Surgical jumps on Q2 beats
Intuitive Surgical shares jumped in after-hours trading yesterday as investors reacted to 2nd-quarter numbers that handily topped expectations on Wall Street.
The robot-assisted surgery company posted profits of $184.5 million, or $4.71 per share, on sales of $670.1 million for the 3 months ended June 30, for a bottom-line gain of $37.2% on sales growth of 14.3% compared with Q2 2015. Read more
2. Medtronic wins 1st FDA nod for cement-augmented spine screws
Medtronic said today it won FDA 510(k) clearance for its CD Horizon fenestrated cement-augmented spinal pedicle screw set, designed to be used with Medtronic’s HV-R polymethylmethacrylate fenestrated screw cement.
The company touted the win as the 1st FDA approval for cement-augmented pedicle screws. Read more
1. Boston Scientific to settle IRS beef for $275m
Boston Scientific said it agreed yesterday to pay the U.S. Internal Revenue Service $275 million plus interest to settle a tax beef dating back to its $26 billion acquisition of Guidant in 2006.
The settlement would put to bed a transfer pricing dispute with the IRS over the agency’s tally of transfer pricing between domestic and foreign Guidant subsidiaries, plus charges related to a 2006 deal in which Abbott bought Guidant’s stent business from Boston Scientific. Read more
The post MassDevice.com +5 | The top 5 medtech stories for July 20, 2016 appeared first on MassDevice.
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