BTIG analysts maintained their neutral rating for Embecta (Nasdaq:EMBC) ahead of the company’s fourth-quarter earnings report next week. Embecta, the BD diabetes spinoff, reports its fourth-quarter earnings on Tuesday, Dec. 20. Analysts Marie Thibault and Sam Eiber also expect 2023 guidance to come from management then. The analysts mainly expect the patch pump market to […]
Wall Street Beat
Boston Scientific to acquire majority stake in interventional tech developer Acotec
Boston Scientific (NYSE:BSX) announced that it intends to make a partial offer to acquire a majority stake in Acotec. Marlborough, Massachusetts-based Boston Scientific’s offer could add up to a maximum of 65% of Acotec’s shares. Its proposed price totals HK$20 per share. That amounts to approximately $523 million for the 65% stake at current exchange […]
Tandem stock ticks up after Wells Fargo upgrade
Tandem Diabetes Care (Nasdaq:TNDM) shares ticked up today after Wells Fargo declared it “Equal Weight,” an improvement from “Underweight.” Shares of TNDM rose 8.3% at $42.81 apiece in midday trading today. MedTech 100 Index — which includes stocks of the world’s largest medical device companies — ticked up 6.8%. According to a report from SeekingAlpha, […]
Insulet stock rises on Street-beating Q3, raised sales guidance
Insulet (Nasdaq:PODD) shares ticked up after hours today on third-quarter results that came in ahead of the consensus forecast. Shares of PODD rose 8.1% at $276 apiece after the market closed today. MassDevice’s MedTech 100 Index — which includes stocks of the world’s largest medical device companies — finished the day down 3.8%. The Acton, […]
Glaukos beats The Street in Q3
Glaukos (NYSE:GKOS) shares hardly shifted on third-quarter results that came in ahead of the consensus forecast. The Aliso Viejo, California-based ophthalmic implant maker posted losses of $27.6 million in the quarter. That amounts to 58¢ per share on sales of $71.3 million for the three months ended Sept. 30, 2022. Glaukos registered a deep bottom-line […]
Tandem stock dives on Q3 misses, reduced guidance
Tandem Diabetes Care (Nasdaq:TNDM) shares took a big hit after hours on third-quarter results that missed the consensus forecast. Shares of TNDM. MassDevice’s MedTech 100 Index — which includes stocks of the world’s largest medical device companies — closed the day down 0.3%. The San Diego-based company posted losses of nearly $49 million for the […]
Dexcom stock rises on Q3 results following G7 international rollout
Dexcom (Nasdaq:DXCM) shares are up today — a day after it reported third-quarter results that came in ahead of the consensus forecast. DXCM shares were up more than 17% at $118.78 by the afternoon today. MassDevice‘s MedTech 100 Index — which includes stocks of the world’s largest medical device companies — was down more than […]
Iradimed withdraws 510(k) application for MR-compatible IV pump
Iradimed (Nasadq:IRMD) announced that it voluntarily withdrew an FDA 510(k) application for its new model MR IV pump. Winter Springs, Florida-based Iradimed said it learned that the FDA likely wouldn’t have time to finish clearance activities for the pending submission. Upon learning this, the company decided to voluntarily withdraw its application on Oct. 5. The […]
Analysts see multi-year transition to growth for Embecta
Embecta (Nasdaq:EMBC), the BD diabetes business spinoff, may take a few years to move into a growth phase, analysts say. BTIG analysts Marie Thibault and Sam Eiber wrote a report labeling Embecta as a “Neutral” option on the market. BD initially announced it would spin off its diabetes business in 2021, finally completing the move […]
Second Sight Medical merges with Nano Precision Medical, rebrands as Vivani Medical
Second Sight Medical (Nasdaq:EYES) announced today that it completed its merger with Nano Precision Medical and rebranded. In February, the two companies entered into a definitive agreement under which Nano Precision Medical (NPM) would merge with a wholly-owned subsidiary of Second Sight in an all-stock transaction, with NPM as the surviving company under Second Sight’s […]