Embecta (Nasdaq: EMBC) today posted third-quarter results today for the first time as a BD (NYSE: BDX) spinoff, beating the consensus forecast on Wall Street. The Parsippany, New Jersey-based diabetes technology company reported profits of $62.4 million, or $1.08 per share, on sales of $291.1 million for the three months ended June 30. RELATED: How […]
Diabetes
Abbott will spend $450M to up FreeStyle Libre production in Ireland
Abbott (NYSE:ABT) will spend €440 million ($450 million) to expand its operations in Ireland, the country’s government announced today. The investment involves the creation of a new 250,000-square-foot manufacturing facility in Kilkenny and a further investment in the company’s Donegal Diabetes Care site. The investment will add 1,000 new jobs between the sites. The new […]
Better Therapeutics Q2 beats Street as it prepares to submit diabetes therapy for FDA review
Better Therapeutics (Nasdaq:BTTX) posted second-quarter quarter results today that beat the consensus forecast on Wall Street as it prepared to submit its first product for FDA review. Better Therapeutics has not yet generated revenue from the commercialization or sale of any product. The company went public through a special purpose acquisition company merger in October. […]
Senseonics stock is up as it sticks by revenue guidance
Senseonics (NYSE:SENS) shares were up slightly today on second-quarter results that came up shy of the consensus forecast. The Germantown, Maryland-based continuous glucose monitoring technology developer yesterday evening posted profits of $103.9 million, or 22¢ per share, on sales of $3.7 million for the three months ended June 30, 2022, for a massive bottom-line gain […]
Wells Fargo downgrades Tandem amid rise of automated insulin delivery competition
Wells Fargo downgraded Tandem Diabetes Care (Nasdaq:TNDM) as competitors apply pressure to the automated insulin delivery technology developer. According to SeekingAlpha, analysts led by Larry Biegelsen moved Tandem from “Overweight” to “Underweight” due to bullish expectations on Wall Street as the company’s competition, including Insulet and Medtronic, come to the fore. The street responded in kind, with […]
Abbott, WeightWatchers partner on diabetes care
Abbott (NYSE:ABT) announced that it entered into a strategic partnership with WeightWatchers to help people living with diabetes. The companies will work together to integrate WeightWatchers’ diabetes-tailored weight management program with Abbott’s FreeStyle Libre continuous glucose monitoring (CGM) products to help them better understand and manage their diabetes and weight. According to a news release, […]
Insulet up on Q2 sales beat, raised full-year guidance
Insulet (Nasdaq:PODD) stock is up today — a day after releasing Q2 results that blew past the consensus revenue forecast. The Acton, Massachusetts–based automated insulin delivery technology developer yesterday evening posted losses of $35 million, or 50¢ per share, on sales of $299.4 million for the three months ended June 30, 2022, for a $10 […]
Tandem sinks on Q2 misses, slashed sales guidance
Tandem Diabetes Care (Nasdaq:TNDM) shares took a bit hit after hours on second-quarter results that missed the consensus forecast. Shares of TNDM were down 7.2% at $64 per share after the market closed, which was when it released its quarterly results. MassDevice’s MedTech 100 Index — which includes stocks of the world’s largest medical device […]
Medtronic, former Disney star partner to raise diabetes tech awareness
Medtronic (NYSE:MDT) announced today that it partnered with actress Jennifer Stone to help raise awareness on diabetes technology. Stone, best known for portraying “Harper Finkle” on Disney Channel’s Wizards of Waverly Place,” will work with Medtronic Diabetes to help others with type 1 diabetes learn more about the technologies that can make life with the […]
Anthem to provide coverage for Senseonics’ next-gen CGM
Senseonics (NYSE:SENS) announced today that Anthem is providing coverage for implantable continuous glucose monitoring (CGM). The coverage extends to the Eversense CGM system — including the recently launched next-generation Eversense E3 180-day CGM — meaning that Senseonics’ global commercial partner, Ascensia Diabetes Care, can introduce the CGM to more people living with diabetes. Germantown, Maryland-based […]