Insulet (Nasdaq:PODD) shares got a boost from third-quarter results that came in ahead of the consensus forecast. Shares of PODD were up more than 16% at $162.94 near the end of trading today — a day after the company released results after market close. MassDevice’s MedTech 100 Index — which includes stocks of the world’s […]
Wall Street Beat
Tandem stock sinks after hours on Q3 misses, lowered guidance
Tandem Diabetes Care (Nasdaq:TNDM) shares took a massive hit after hours today on third-quarter results that missed the consensus forecast. Shares of TNDM fell nearly 20% at $14.27 apiece after the market closed today. MassDevice’s MedTech 100 Index — which includes stocks of the world’s largest medical device companies — closed the day up 1.1%. The […]
Dexcom stock rises after hours on raised 2023 guidance, $500M share repurchase program
Dexcom (Nasdaq:DXCM) shares got a massive boost on third-quarter results that came in well ahead of the consensus forecast. The San Diego-based continuous glucose monitor (CGM) maker also announced a $500 million share repurchase program in conjunction with its third-quarter results. The repurchase program follows a $1 billion senior convertible note offering this year, plus […]
Bausch+Lomb launches $1.4B offering to finance XIIDRA eye drop buy
Bausch + Lomb (NYSE:BLCO) announced today that it launched an offering worth $1.4 billion in new senior secured notes. The company intends to offer the notes, due 2028, and to enter into an incremental term loan facility. Both moves aim to support the financing of the company’s pending acquisition of XIIDRA. Bausch + Lomb expects […]
Analysts: GLP-1 drugs should have minor impact on insulin pump market — but will boost CGMs
Based on conversations with diabetes experts, analysts are playing down the potentially negative impact of GLP-1 receptor agonists on the diabetes technology industry. The GLP-1 drug class, which includes Ozempic and Wegovy, has cast a shadow of doubt over diabetes technology of late. This therapeutic class, a glucagon-like peptide 1, has proven to lead to […]
Medtronic pleased with Diabetes progress as new CGM’s FDA review ‘is progressing’
After ending fiscal 2023 on a high, the Diabetes unit at Medtronic (NYSE:MDT) continues to roll on into the company’s new fiscal year. To finish fiscal 2023 (in April), Medtronic received FDA approval for its next-generation MiniMed 780G automated insulin delivery system. Shortly after, the company fully resolved a warning letter issue with the FDA. […]
Senseonics posts mixed Q2, submits to FDA for iCGM designation
Senseonics (NYSE:SENS) shares took a hit today on second-quarter results that missed the consensus sales forecast. Shares of SENS fell nearly 12% at 65¢ apiece in mid-morning trading today. MassDevice’s MedTech 100 Index — which includes stocks of the world’s largest medical device companies — stayed relatively even. The Germantown, Maryland–based implantable continuous glucose monitor […]
Insulet raises 2023 guidance with Omnipod sales up 33%
Insulet (Nasdaq:PODD) stock is down today, even with Street-beating Q2 results and raised guidance. Shares of PODD were down more than 3% at $229.85 apiece by midday trading today. (Insulet announced its earnings yesterday evening.) MassDevice’s MedTech 100 Index — which includes stocks of the world’s largest medical device companies — was down slightly. The […]
Embecta increases 2023 guidance, reports closed-loop insulin delivery tech progress
Embecta (Nasdaq:EMBC) shares rose this morning as it increased its full-year guidance and shared an update on its automated insulin delivery technology. The company also reported third-quarter results that came in ahead of the consensus forecast. Shares of EMBC ticked up 3.1% at $22.27 apiece in early-morning trading today. MassDevice’s MedTech 100 Index — which […]
Tandem resets 2023 guidance due to reduced sales visibility from new product disruption
Tandem Diabetes Care (Nasdaq:TNDM) shares took a hit on second-quarter results that included amended full-year financial guidance. Changes to the automated insulin delivery technology maker’s outlook reflect updates to its portfolio and reduced visibility on sales for the near future. Shares of TNDM fell 15% to $27.19 apiece after the market closed today. MassDevice’s MedTech 100 […]
