Hillrom beats The Street in Q3, raises guidance

Hillrom (NYSE: HRC) shares slightly dipped today on third-quarter results that beat the consensus forecast.

The Chicago-based company posted profits of $49.2 million, or 74¢ per share, on sales of $717.7 million for the three months ended June 30, 2021, for a -47.6% bottom-line slide on a sales decline of -6.5%.

Adjusted to exclude one-time items, earnings per share were $1.38, 4¢ ahead of Wall Street, where analysts were looking for sales of $708.3 million.

Hillrom noted that profit and revenue dips were particularly spurred by the company’s third-quarter performance in 2020, which benefited from a surge in one-time COVID-19-related revenue of approximately $130 million and adjusted EPS of $0.60.

“Our dedicated, global team continues to support customers’ evolving needs and we remain encouraged by the building momentum and recovery in our underlying business. This resulted in third-quarter financial performance that exceeded exp…

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FDA clears TransMedics OCS Lung System

TransMedics (NSDQ:TMDX) has won FDA clearance of its OCS Lung System to provide hypothermic flushing, storage and transportation of donor lungs for transplantation.

“This FDA clearance marks another achievement for TransMedics as we assemble the most comprehensive, market-leading portfolio of organ preservation products to meet the clinical needs of the organ transplant market,” TransMedics CEO Dr. Waleed Hassanein said in a news release.

“With this new clinical indication, we are demonstrating our commitment to establishing TransMedics as the trusted partner to supply world-class organ preservation products to meet customer needs across all transplant indications as we execute on our mission to transform organ transplant therapy for the future,” Hassanein said.

The company’s OCS Heart System and OCS Liver System are presently under FDA after receiving positive FDA advisory panel votes in April and July respectively.

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Smith+Nephew revenue up 48% in Q2

Smith+Nephew (LON: SN; NYSE: SNN) saw its sales jump 48% in Q2, with the company reiterating its projection of 10–13% underlying revenue growth in 2021.

British medtech giant yesterday reported $1.335 billion in revenue for the quarter ended July 3, 2021. For the first half of 2021, the company saw a trading profit of $459 million and an operating profit of $239 million off of $2.599 billion in revenue — versus a trading profit of $172 million and an operating loss of –$5 million off of $2.035 billion in revenue a year before.

“Our performance in the first half of 2021 demonstrates the value of our continued investment in our portfolio, our pipeline and our people. This has put us in a strong position as COVID restrictions eased and levels of elective surgery began to return to normal, with new products and recently acquired assets performing well across the portfolio,” CEO Roland Diggelmann said in a news release.

“Looking ahead, we believe we are…

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Tenaya Therapeutics prices $180M IPO for targeted therapies

Tenaya Therapeutics announced that it priced an underwritten, upsized initial public offering of common stock worth $180 million.

South San Francisco-based Tenaya develops therapies for rare generic disorders and more prevalent heart conditions through gene therapy, cellular regeneration and precision medicine. The company is actively exploring different routs of administration and different infusion- and injection-based methods for delivering its therapies.

Get the full story at our sister site, Drug Delivery Business News.

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Abbott launches latest insertable cardiac monitor

[Image from Abbott]Abbott (NYSE:ABT) announced that it launched the Jot Dx — its latest insertable cardiac monitor (ICM) — in the U.S.

Jot Dx offers clinicians and hospitals control of the management of the flow of information through a feature that allows the viewing of abnormal heart rhythm data and offers the opportunity to simplify which irregular heart rhythms are recorded with a “key episodes” feature, according to a news release.

Abbott Park, Ill.-based Abbott said the technology allows for remote detection and improved diagnosis accuracy for cardiac arrhythmia in patients. The platform is supported by SyncUP, a personalized service that provides one-on-one training and education to help patients connect to their ICM.

The Jot Dx platform monitors patient cardiac rhythms 24 hours a day, seven days a week and connects to myMerlin, a mobile app designed to transmit data in real-time to clinicians and patients. Abbott said all wireless commun…

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Dexcom rises on Street-beating Q2, raised guidance

Dexcom (NSDQ:DXCM) shares ticked up after hours on second-quarter results that topped the consensus forecast.

The San Diego-based continuous glucose monitor developer posted profits of $62.9 million, or 63¢ per share, on sales of $595.1 million for the three months ended June 30, 2021, for a 35.9% bottom-line gain on sales growth of 31.7%.

Get the full story at our sister site, Drug Delivery Business News.

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Edwards Lifesciences beats The Street in Q2, boosts guidance

Edwards Lifesciences (NYSE: EW) reported second-quarter results this evening that beat the consensus forecast on Wall Street — and raised its 2021 guidance in the process.

The Irvine, Calif.–based cardio device company reported earnings of $489.5 million, or 78¢ per share, off sales of $1.376 billion – a turnaround from the loss of –$121.9 million, or –20¢ per share, off sales of $925 million that Edwards Lifesciences saw in Q2 2020.

Adjusted to exclude one-time items, earnings per share were 64¢, 9¢ ahead of The Street, where analysts were looking EPS of 55¢ on sales of $1.28 billion.

“We were encouraged by the clear signs of recovery during the second quarter,” Edwards Lifesciences CEO Michael A. Mussallem said in a news release.

“Vaccine adoption in key regions has contributed to an increased number of patients seeking and, most importantly, receiving treatment,” Mussallem said. “This quarter, we were pleased that …

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Align Technology skyrockets on Street-beating Q2

Align Technology (NSDQ:ALGN) shares shot up today on second-quarter results that came in ahead of the consensus forecast.

ALGN shares were up 9.4% at $680.27 per share in late-afternoon trading today. MassDevice’s MedTech 100 Index — which includes stocks of the world’s largest medical device companies — was up 0.9%.

The Tempe, Ariz.-based company posted profits of $199.7 million, or $2.51 per share, on sales of $1 billion for the three months ended June 30, 2021, for a bottom-line gain from losses of $40.6 million this time last year as it nearly tripled last year’s second-quarter sales.

Adjusted to exclude one-time items, earnings per share were $3.04, 49¢ ahead of Wall Street, where analysts were looking for sales of $937.9 million.

“I’m pleased to report our first $1 billion revenue quarter with record volumes reflecting continued momentum from both Clear Aligners and Systems and Services,” Align Technology president &a…

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Novocure plummets on missed Q2 projections

Novocure (NSDQ:NVCR) shares took a dive today on second-quarter results that came up short of the consensus forecast.

NVCR shares were down -11.7% at $160.67 in mid-afternoon trading today. MassDevice’s MedTech 100 Index — which includes stocks of the world’s largest medical device companies — was up 0.9% on the day.

Get the full story at our sister site, Drug Delivery Business News.

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Protolabs reports mixed-bag results for Q2

Protolabs (NYSE: PRLB) posted second-quarter earnings today that missed the consensus forecast on Wall Street, though the company beat on revenue.

The Maple Plain, Minn–based digital manufacturing outsourcer — which serves medtech and a host of other industries — reported profits of $12.9 million, or 47¢ per share, on sales of $123.0 million for the three months ended June 30, 2021, for a bottom-line gain of 2.4% and sales growth of 15.4% compared with Q2 2020.

Adjusted to exclude one-time items, earnings per share were 39¢, a nickel behind The Street, where analysts were looking EPS of 44¢ on sales of $122.2 million.

Get the full story on our sister site Medical Design & Outsourcing. 

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Integer beats The Street in Q2, boosts sales outlook

Integer Holdings (NYSE:ITGR) posted second-quarter results today that beat the consensus forecast on Wall Street — boosting its 2021 sales outlook amid continued recovery from the COVID-19 pandemic.

The Plano, Texas–based medical device contract manufacturing giant reported profits of $29.4 million, or 89¢ per share, on sales of $312.0 million for the three months ended July 2, 2021. The results mark a major improvement over Q2 2020, when Integer earned $389,000 on sales of 240.1 million.

Adjusted to exclude one-time items, earnings per share were $1.07, 16¢ ahead of The Street, where analysts were looking for EPS of 91¢ on sales of $294.17 million.

Get the full story on our sister site Medical Design & Outsourcing. 

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Pfizer highlights COVID-19 and flu vaccine strategy in Q2 earnings call

With vaccines generating a significant portion of Pfizer’s (NYSE:PFE) revenue in the first six months of 2021, the company shed light on its vaccine plans in its most recent quarterly earnings call.

While the company recently won FDA approval for its potential blockbuster pneumococcal 20-valent vaccine, its mRNA vaccine strategy understandably took center stage during the Q2 call yesterday.

Get the full story from our sister site, Drug Discovery Trends.

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