Livongo slides despite Street-beating Q2

Livongo Health (NSDQ:LVGO) shares took a hit today on second-quarter results that came in ahead of the consensus forecast.

The Mountain View, Calif.-based company posted losses of -$1.6 million, or -2¢ per share, on sales of $91.9 million for the three months ended June 30, 2020, for an 88% bottom-line gain while more than doubling its revenue totals from the second quarter of last year.

Adjusted to exclude one-time items, earnings per share were 11¢, 10¢ ahead of Wall Street, while the revenue numbers topped the analysts’ projections by nearly 6%. The company noted in a news release that the COVID-19 pandemic has not yet had a material adverse effect on its financial position.

Livongo did not offer guidance for the full year, while the company expects that its $18.5 billion merger with Teladoc (NYSE:TDOC) announced last week will close in the fourth quarter of 2020.

LVGO shares were down -4.3% at $116.25 per share in midday trading today. T…

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MedTech 100 roundup: Another high as stocks tick up

For the third consecutive week, stocks in the medtech industry reached heights not yet seen since the COVID-19 pandemic began.

MassDevice’s MedTech 100 Index — which includes stocks of the world’s largest medical device companies — sat at 89.65 points at the end of last week (Aug. 7). Overall, medtech stocks saw a 0.72% increase from the 89.01-point total at the same time a week prior (July 31).

On Aug. 5, the index reached 90.45 points, marking its highest point since that pre-pandemic high, with the previous mid-pandemic high (90.37) coming last week.

The most recent high mark represents just a -2% dip from the Feb. 19 high point of 92.32, marking the smallest margin of decline over the past five months.

Meanwhile, the S&P 500 Index saw a 2.5% increase from July 31 to Aug. 7, and the Dow Jones Index fared even better, positng a 3.8% rise over the same period of time.

Medtech’s lowest point during the COVID-19 pandemic remains at 62.13…

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Teladoc to acquire Livongo for $18.5B

Teladoc (NYSE:TDOC) announced today that it entered into a definitive merger agreement with Livongo Health (NSDQ:LVGO) worth $18.5 billion.

Purchase, N.Y.-based Teladoc and Mountain View, Calif.-based Livongo are setting out to improve the delivery, access and experience of healthcare around the world by offering high-quality, technology-enabled longitudinal care, according to a news release.

Under the agreement, each share of Livongo will be exchanged for 0.5920x shares of Teladoc, plus cash consideration of $11.33 per Livongo share, totaling $18.5 billion based on the closing price of Teladoc Health chares as of yesterday, Aug. 4, 2020. Upon the closing of the merger, existing Teladoc shareholders will own approximately 58% and existing Livongo shareholders will own approximately 42% of the combined company.

“This merger firmly establishes Teladoc Health at the forefront of the next generation of healthcare,” Teladoc CEO Jason Gorevic said in the relea…

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