Beta Bionics (Nasdaq:BBNX) today reported first-quarter sales results that came in ahead of the forecast on Wall Street. For the full year, the company expects sales to range between $131 million and $136 million. It previously forecast between $130 million and $135 million. Shares of Beta Bionics fell 2% to $12.03 apiece after the market […]
Wall Street Beat
Abbott CEO is bullish on CGM market despite analyst concerns
Abbott (NYSE:ABT) CEO Robert B. Ford remains optimistic about the company’s opportunity in the continuous glucose monitor (CGM) market. The company reported its first-quarter earnings today, which included $2 billion in FreeStyle Libre CGM sales, growing 7.5%. Abbott noted a delay in the renewal process related to an international tender, as well as an expected […]
Analysts initiate MiniMed with ‘Buy’ rating in competitive diabetes tech space
BTIG analysts today opened coverage for MiniMed (Nasdaq:MMED) with optimism about the company’s scale, reach and potential pipeline. Marie Thibault, Alexandra Pang and Sam Eiber initiated MiniMed with a “Buy” rating following the Medtronic Diabetes business’ recent initial public offering (IPO), despite the IPO coming up short of its initial target price. “Our MiniMed Group […]
Medtronic cuts 2026 guidance on private equity charge related to MiniMed approval
Medtronic (NYSE:MDT) said in an SEC filing that it lowered its full-year guidance after a one-time charge related to its MiniMed diabetes unit. Last week, MiniMed announced FDA clearance for the MiniMed Flex, a next-generation automated insulin delivery system. Clearance came “several months earlier than anticipated,” according to the filing, facilitating earlier commercialization. R&D for […]
Embecta to acquire auto-injector maker Owen Mumford for up to $199.4M
Embecta (Nasdaq:EMBC) announced today that it entered into a definitive agreement to acquire Owen Mumford Holdings Limited. Owen Mumford, a privately held, UK-based company, develops and manufactures medical devices and drug delivery technologies. Embecta, the former BD Diabetes business, agreed to acquire Owen Mumford with an upfront cash payment of approximately $133 million (£100 million). […]
MiniMed completes $538M IPO, retains $309M in proceeds as Medtronic separation takes shape
MiniMed (Nasdaq:MMED) announced today that it completed its previously announced initial public offering (IPO). Shares of MMED began trading on Friday, March 6, following the pricing of the IPO that day. They closed today, March 9, down 2.7% at $18 apiece. The Medtronic Diabetes unit priced its IPO at $20 per share, offering 28 million […]
MiniMed expects to close $644M IPO next week ahead of Medtronic split
MiniMed has set the price for its planned initial public offering (IPO) ahead of an imminent separation from Medtronic (NYSE:MDT). The Medtronic Diabetes unit’s IPO includes 28 million shares of common stock priced at $20 apiece, amounting to $560 million. Underwriters also have an option to purchase up to 4.2 million additional shares at the […]
Senseonics earns FDA IDE for next-gen Gemini CGM, posts Q4 revenue beat
Senseonics (NYSE:SENS) posted fourth-quarter results that proved mixed compared to Wall Street forecasts alongside a major pipeline announcement. Along with its fourth-quarter results, the company shared that it secured FDA investigational device exemption (IDE) for its self-powered, battery-enabled Gemini sensor. It enrolled the first patients in the IDE trial and expects to complete that in […]
Tandem Diabetes Care prices upsized $265M offering
Tandem Diabetes Care (Nasdaq:TNDM) today announced the pricing of a $265 million offering of convertible senior notes. San Diego-based Tandem earlier this week announced its intent to offer $200 million in notes, due 2032, in a private placement. It now says it upsized that offering by $65 million. The company also granted initial purchasers an […]
Medtronic MiniMed Diabetes IPO could reach up to $784M
In an amendment to an SEC filing, Medtronic’s (NYSE:MDT) Diabetes unit, MiniMed, today shared more details on its planned initial public offering (IPO). Medtronic announced in May that it planned to separate the Diabetes unit into a standalone, publicly traded company. In that announcement, the company projected the separation within the next 18 months. It […]
