MedTech 100 roundup: Industry climbs with earnings season in full swing

The medtech industry remains on the upswing as companies see their stocks rising with quarterly earnings providing a boost.

MassDevice‘s MedTech 100 Index — which includes stocks of the world’s largest medical device companies — finished last week (July 30) at 118.86 points. Two weeks ago aside — when the index shot up to 145.88 points and quickly tumbled down — this mark would be the index’s all-time best.

The total at the end of last week represents a 2.9% rise from the 115.54-point tally posted by the index at the end of last week (July 23).

Medtech’s performance continues to reflect an overall rebound from the struggles brought on by the COVID-19 pandemic, too. The industry has registered a 28.7% increase from the pre-pandemic high of 92.32 (set on Feb. 19, 2020). Moreover, it remains well ahead of the mid-pandemic low of 62.13 (March 23, 2020) as well, totaling a 91.3% ascent above that point.

The industry’s performance had no cor…

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3M’s healthcare segment registers growth in Street-beating Q2

3M (NYSE:MMM) reported second-quarter results that beat the consensus forecast — with the company’s healthcare segment showing especially robust growth.

The St. Paul, Minn.–based company posted profits of $1.5 billion, or $2.59 per share, on sales of $9 billion for the three months ended June 30, 2021, for a 16.7% bottom-line gain on sales growth of 24.7%.

Get the full story at our sister site, MassDevice.

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3M’s healthcare segment registers growth in Street-beating Q2

3M (NYSE:MMM) shares ticked up before hours this morning on second-quarter results that beat the consensus forecast.

The St. Paul, Minn.-based company posted profits of $1.5 billion, or $2.59 per share, on sales of $9 billion for the three months ended June 30, 2021, for a 16.7% bottom-line gain on sales growth of 24.7%.

Adjusted to exclude one-time items, earnings per share were also $2.59, 33¢ ahead of Wall Street, where analysts were looking for sales of $8.6 billion.

3M’s healthcare segment reported $2.3 billion in revenues, marking a rise of 24.9% from the second quarter of 2020. Sales in the segment increased in oral care, food safety, medical solutions, separation and purification and health information systems, with growth across all geographic areas.

“3M delivered strong performance in the second quarter, once again posting organic growth across all business groups and geographic areas, along with increased earnings and robust cash …

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3M shares dip despite Street-beating Q1, unchanged guidance

3M (NYSE:MMM) shares took a hit today despite first-quarter results that topped the consensus forecast.

The St. Paul, Minn.-based company posted profits of $1.6 billion, or $2.77 per share, on sales of $8.9 billion for the three months ended March 31, 2021, for a 24.2% bottom-line gain on sales growth of 9.6%.

Adjusted to exclude one-time items, earnings per share were also $2.77, 48¢ ahead of Wall Street, where analysts were looking for sales of $8.5 billion.

3M’s healthcare segment reported sales of $2.2 billion for a 6.8% year-over-year increase. Sales increases were observed in oral care, separation and purification, medical solutions and health information systems, with the only decline in food safety.

Sales grew for 3M’s healthcare business across all geographic areas as the segment recorded operating income of $509 million, representing a 13% year-over-year uptick.

“The first quarter was highlighted by broad-based organic…

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Feds to healthcare: Limit reusing masks

(Image courtesy of Brian McGowan on Unsplash)

The FDA recently told healthcare facilities they can start to limit the decontamination and reuse of disposable masks.

An increase in the domestic supply of new masks approved by NIOSH has made the practice less necessary, the agency said.

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

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MedTech 100 roundup: Heading back to previous heights?

Although March brought on tough times for top stocks in the medtech industry, April is already showing signs of a rebound.

The year’s strong start, during which MassDevice‘s MedTech 100 index notched an all-time best of 110.96 points (Feb. 15) came to an end later that month and carried over into March, with the index hitting its lowest recent point on March 8 (102.16), marking a fall at a level not seen since October.

Even after a handful of slight improvements over the month of March, the industry never quite found its footing, ending the month below the 105-point mark.

The first week of April has already presented positive movement, though, with the industry rising to 106.26 points as the week ended on April 2, a 1.3% rise from the 104.87-point mark set the week prior on March 26.

Improvements highlight the secure position the industry has nestled into a year on from the height of the COVID-19 pandemic’s impact on medtech, as the industry…

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3M, others may have unmasked a solution to future N95 shortages

A handful of companies including 3M are working to ensure that a scramble for disposable masks never happens again.

MSA Advantage elastomeric respirator (Image courtesy of MSA Safety)

The face of the next pandemic could be very different than that of COVID-19, thanks to a handful of companies that have redesigned reusable industrial face masks to better protect healthcare workers and help prevent mask shortages.

The makers of reusable elastomeric half-mask respirators designed them for industrial use with two inhalation valves flanking an exhalation valve. The exhalation valve enables wearers to breathe out comfortably and keeps the rubber masks from becoming too hot. Some healthcare workers began wearing them during the COVID-19 pandemic, but in June, the FDA stopped allowing the use of masks with exhalation valves in healthcare settings because they may spread virus particles from infected wearers.

Get the full story on our sister site, Medical Design …

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8 medical device companies that beat the COVID-19 pandemic and prospered

[Image from unsplash.com]Some medical device businesses not only survived the COVID-19 pandemic but actually thrived — with many producing the medtech needed to fight the coronavirus’s spread.

Medical Design & Outsourcing recently analyzed financials for 20 of the largest medical device businesses in the world. Not only was revenue only slightly down for the 20 during 2020, but it was actually up for eight of the 20 companies.

For many of the eight companies that saw sales increase, there was a common theme: They pivoted their focus to the diagnostics imaging and personal protective equipment needed to against COVID-19.

“We had different kinds of companies that were able to benefit on some level from COVID and shutdowns,” Richard Newitter, senior research analyst at SVB Leerink, told MDO.

Overall, medtech sales declined in Q1 and Q2 but then bounced back in a V-shaped recovery for the rest of the year, according to Newitter “It plateaued and actu…

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8 medical device companies that beat the COVID-19 pandemic and prospered

[Image from unsplash.com]

Some medical device businesses not only survived the COVID-19 pandemic but actually thrived — with many producing the medtech needed to fight the coronavirus’s spread.

Medical Design & Outsourcing recently analyzed financials for 20 of the largest medical device businesses in the world. Not only was revenue only slightly down for the 20 during 2020, but it was actually up for eight of the 20 companies.

For many of the eight companies that saw sales increase, there was a common theme: They pivoted their focus to the diagnostics imaging and personal protective equipment needed to against COVID-19.

“We had different kinds of companies that were able to benefit on some level from COVID and shutdowns,” Richard Newitter, senior research analyst at SVB Leerink, told MDO.

Overall, medtech sales declined in Q1 and Q2 but then bounced back in a V-shaped recovery fo…

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How big medtech fared during a year of COVID-19

[Image from Unsplash]Despite numerous challenges, the medtech industry showed itself to be fairly recession-proof in 2020, according to a Medical Design & Outsourcing/MassDevice analysis of financials.

Annual reports recently released by 20 of the world’s largest medical device companies showed only a slight dip in revenue during 2020 — a year in which medtech held the front lines against the COVID-19 pandemic. Employment was also up slightly amongst the top earners, while R&D spending held its own.

The 20 companies included in the MDO analysis include 3M Healthcare, Abbott (medical device segment), Alcon, Align Technology, Baxter, Boston Scientific, Danaher (life sciences and diagnostics segment), Dentsply Sirona, Edwards Lifesciences, GE Healthcare, Henry Schein, Intuitive Surgical, Johnson & Johnson (medical device segment), Medline Industries, Owens & Minor, Royal Philips, Smith+Nephew, Stryker, Teleflex and Zimmer Biomet.

Get the full s…

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How big medtech fared during a year of COVID-19

[Photo from Unsplash]

Despite numerous challenges, the medtech industry showed itself to be fairly recession-proof in 2020, according to a Medical Design & Outsourcing analysis of financials.

Annual reports recently released by 20 of the world’s largest medical device companies showed only a slight dip in revenue during 2020 — a year in which medtech held the front lines against the COVID-19 pandemic. Employment was also up slightly amongst the top earners, while R&D spending held its own.

The 20 companies included in the MDO analysis include 3M Healthcare, Abbott (medical device segment), Alcon, Align Technology, Baxter, Boston Scientific, Danaher (life sciences and diagnostics segment), Dentsply Sirona, Edwards Lifesciences, GE Healthcare, Henry Schein, Intuitive Surgical, Johnson & Johnson (medical device segment), Medline Industries, Owens & Minor, Royal Philips, Smith+Nephew, …

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These 5 medtech companies made it into the top 200 of Forbes’ best places to work list

Johnson & Johnson, Steris, Philips, Fujifilm Holdings and Boston Scientific were recently named among Forbes’ best large employers in America, based on feedback from their employees.

Forbes partnered with a market research firm to survey 50,000 Americans working for businesses with at least 1,000 employees. Survey participants were asked to rate their willingness to recommend their employer to friends and family and to nominate a business that wasn’t their own.

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

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