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Align Technology posts Street-beating Q4 on record-breaking revenues

Align Technology (NSDQ:ALGN) shares dipped slightly today despite fourth-quarter results that topped the consensus forecast.

The Tempe, Arizona-based dental technology company posted profits of $191 million, or $2.40 per share, on sales of $1.031 billion for the three months ended Dec. 31, 2021, for a 20.1% bottom-line gain on sales growth of 23.6%. Align’s revenue total represents a record for the company.

Adjusted to exclude one-time items, earnings per share were $2.83, 10¢ ahead of Wall Street, where analysts were looking for sales of $1.03 billion.

“Overall, I’m very pleased to report fourth-quarter results and another record year for Align,” Align Technology President and CEO Joe Hogan said in a news release.

Align said that, despite potential COVID-19 headwinds, it expects 2022 revenue growth between 20% and 30%.

ALGN shares were down 1.5% at $498. MassDevice’s MedTech 100 Index — which includes stocks of the world&…

Cardiovascular Systems cites lower procedure volumes due to COVID-19 variants for missed Q2 estimates

Cardiovascular Systems (NSDQ:CSII) posted second-quarter results this week that missed the overall consensus on Wall Street, citing issues caused by COVID-19 variants.

The St. Paul, Minnesota-based company reported losses of $8.97 million, or -23¢ per share, on sales of $59.14 million for the three months ended Dec. 31, 2021, on sales loss of -7.84% compared with Q4 2020.

Earnings per share were -23¢, 9¢ behind The Street, where analysts were looking for sales of $63.17 million.

“Our second-quarter revenues reflect another period where our domestic business was pressured primarily by lower procedure volumes related to hospital capacity issues and staffing shortages caused by COVID-19,” CEO and president Scott Ward said in a news release. “Our recovery from the Delta variant was suppressed by the arrival of Omicron in December. Consistent with past surges, the impact was more acute in the peripheral claudication segment of our business, which is dee…

Cardinal Health’s Medical segment saw Q2 profits drop 79%

Cardinal Health (NYSE:CAH) today reported mixed results and cut its EPS guidance as the company’s Medical segment continues to wrestle with inflation and supply chain problems.

The Dublin, Ohio–based pharma and medtech giant reported profits of $49 million, or 17¢ per share, on sales of $45.5 million for the three months ended Dec. 31, 2021, for a bottom-line drop of 92% on top-line growth of 9%.

Adjusted to exclude one-time items, earnings per share were $1.27, 4¢ ahead of The Street, where analysts were looking EPS of $1.23 on sales of $45.57 billion.

Medical segment revenue was down 5% to $4.1 billion, primarily due to the divestiture of the Cordis business. The segment’s profits were down 79%, with Cardinal Health repeating its caution about global supply chain constraints. The company already warned in January that the problems will cost impact Medical segment profits by $150–175 million this fiscal year.

Cardinal Health’s P…

Could nasal vaccines be the next big weapon against COVID-19?

Mucosa and relevant structures. [Image from Wikipedia]Because of the way they provide protection, nasal vaccines are being considered as the best long-term way to prevent COVID-19 infection.

The New York Times reported that India-based Bharat Biotech, which has the Covaxin COVID-19 vaccine authorized in India and elsewhere, may offer even stronger protection against the virus with its experimental nasal vaccine.

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

BD rises on Street-beating Q1, raised 2022 guidance

BD (NYSE:BDX) shares ticked up today on first-quarter results that came in well ahead of the consensus forecast.

The Franklin Lakes, New Jersey-based company posted profits of $655 million, or $2.28 per share, on sales of $5 billion for the three months ended Dec. 31, 2021, for a 33.2% bottom-line slide on a sales decline of 6%.

Adjusted to exclude one-time items, earnings per share were $3.64, 79¢ ahead of Wall Street, where analysts were looking for sales of $4.76 billion.

BD’s medical and interventional segments each saw revenues rise (6% and 3.7%, respectively), but the company experienced a 25% dip in life sciences sales as a result of a decline in COVID-19 testing revenues.

“Our first-quarter results reflect continued execution of our BD2025 strategy and strong base business performance from all three segments. Through our focused execution we are driving meaningful revenue growth and improving margins, and we remain uniquely positione…

UnitedHealthcare to cover Abbott’s non-opioid neurstimulation therapy for nerve pain

Abbott (NYSE:ABT) announced today that UnitedHealthcare updated a medical policy that expands access to certain neurostimulation devices.

UnitedHealthcare updated its “Implanted Electrical Stimulator for Spinal Cord” policy, increasing patient access to Abbott’s non-opioid dorsal root ganglion (DRG) neurostimulation device for treating chronic pain.

The updated policy covers 26 million UnitedHealthcare commercial members and will go into effect on March 1, 2022, according to a news release.

Abbott touts its non-opioid DRG stimulation as the world’s only neurostimulator specifically designed for treating complex nerve pain conditions caused by complex regional pain syndrome (CRPS) or peripheral causalgia. The Proclaim DRG neurostimulation system is the only FDA approved DRG technology for treating CRPS and causalgia of the lower extremities, the company said.

DRG therapy stimulates the dorsal root ganglia bundle of nerves lo…

Formus Labs partners with Zimmer Biomet on distribution after $5M moneyraise

[Image from Formus Labs]Formus Labs announced today that it raised $5 million and will partner with Zimmer Biomet on commercialization in Australia and New Zealand.

Auckland, New Zealand-based Formus Labs followed the $5 million fundraising with the public launch of its orthopedic surgery planning solution for providing surgeons with insight into the pre-operation planning process, according to a news release.

VC firm GD1 led the investment, with Punakaiki Fund, Icehouse Ventures, Pacific Channel and Flying Kiwis also participating. Formus said it plans to use the funds to accelerate product development and its expansion into the U.S.

The partnership with Zimmer Biomet will see the co-development and commercialization of the Formus Hip in Australia and New Zealand as well as the investigation of international markets for global expansion.

Formus designed its platform to fully automate the joint replacement planning process, using AI and biomechanics …

Corvia Medical’s atrial shunt trial fails primary endpoint

Corvia Medical’s atrial shunt device did not reduce heart failure rates or improve health status in a 626-patient study published on The Lancet’s website.

The REDUCE LAP-HF II results appear to be bad news for Tewksbury, Massachusetts-based Corvia — as well as Edwards Lifesciences, which agreed in 2019 to pay $35 million for the rights to acquire the company.

The 626 patients in the Corvia-funded study were randomly assigned to either the atrial shunt device or sham procedure. The study were no differences between groups in the primary composite endpoint or in the individual components of the primary endpoint.

Corvia Medical in a news release focused instead on results involving the subgroup of patients who had no pacemaker and normal exercise pulmonary vascular resistance, which indicates the absence of pulmonary vascular disease (PVD). The subgroup saw a statistically significant reduction in heart failure events compared to sham (0.12 vs. …

Ember Technologies, Cardinal Health partner on self-refrigerated, cloud-based shipping box

[Image from Ember Technologies]Ember Technologies and Cardinal Health (NYSE:CAH) announced that they are partnering on the Ember Cube digital shipping box.

The two companies will collaborate to offer what they are touting as the world’s first self-refrigerated, cloud-based shipping box, according to a news release. They will work together to deliver a cold chain solution designed to ensure product integrity and security throughout the supply chain while also significantly reducing shipping waste in the transport of temperature-sensitive medicines.

Ember Cube features cloud-based temperature reporting, GPS location tracking and return-to-sender technology, whereas the current industry standard includes single-use ice packs, styrofoam and cardboard, the company said.

The digital shipping box uses an onboard cellular radio as well for reporting real-time temperature and humidity tracking and GPS location information that can be viewed through its proprie…

Thermo Fisher Scientific ticks up on Street-beating Q4 results

Thermo Fisher Scientific (NYSE:TMO) today posted fourth-quarter results that beat the overall consensus on Wall Street.

The Waltham, Massachusetts–based laboratory supply company reported profits of $1.7 billion, or $4.17 per share, on sales of $10.7 billion for the three months ended Dec. 31, 2021, for a bottom-line loss of -33.6% on sales growth of 1.42% compared with Q4 2020.

Adjusted to exclude one-time items, earnings per share were $6.54, $1.27 ahead of The Street, where analysts were looking for sales of $9.29 billion.

“We had an outstanding 2021, as we continued to execute our proven growth strategy, powered by our PPI Business System, and operated with speed at scale to help our customers and governments around the world advance their important work,” president and CEO Marc Casper said in a news release. “We exceeded the goals we set out to accomplish in 2021 and delivered for all of our stakeholders.”

Shares in TM…

PerkinElmer rises on Street-beating Q4

PerkinElmer (NYSE:PKI) shares ticked up today on fourth-quarter results that came in ahead of the consensus forecast.

The Waltham, Massachusetts-based company posted profits of $179.2 million, or $1.41 per share, on sales of $1.4 billion for the three months ended Jan. 2, 2022, for a 52.9% bottom-line slide on sales growth of 0.7%.

Adjusted to exclude one-time items, earnings per share were $2.56, 37¢ ahead of Wall Street, where analysts were looking for sales of $1.36 billion.

“The last three years have been a period of positive transformation for the Company, which we accomplished through agility, teamwork and perseverance,” PerkinElmer President and CEO Prahlad Singh said in a news release. “Thanks to these efforts, I believe we are better positioned than ever to serve as a trusted, strategic partner of choice for our customers, while ensuring we create an inspiring and engaging place to work for our employees.”

PerkinElmer said it expects to l…

Boston Scientific dips despite Street-beating Q4

Boston Scientific (NYSE:BSX) shares took a slight hit today on fourth-quarter results that topped the consensus forecast.

Shares of BSX ticked down 3.6% at $41.93 per share in early-morning trading today. MassDevice’s MedTech 100 Index — which includes stocks of the world’s largest medical device companies — was up 0.2%.

The Marlborough, Massachusetts-based company posted profits of $80 million, or 14¢ per share, on sales of $3.13 billion for the three months ended Dec. 31, 2021, for a 59.2% bottom-line slide on sales growth of 15.5%.

Adjusted to exclude one-time items, earnings per share were 45¢, 1¢ ahead of Wall Street, where analysts were looking for sales of $3.11 billion.

The company’s adjusted EPS falls in line with its previously issued guidance range of between 43¢ and 45¢.

Boston Scientific’s cardiovascular business saw the biggest revenue jump year-over-year, climbing 25.3% to $1.27 billion, while medsurg …