MedTech Dive is rounding up coverage of medical device and diagnostics companies' fourth quarter and full-year financial reports as earnings season unfolds, updating this collection weekly. Please note that some companies follow their own fiscal calendars.
The week started off with Medtronic, the world's largest pure medtech, announcing that "transient" challenges caused it to miss revenue targets during its most recent quarter. A number of product lines contributed to the weaker-than-expected topline results, including its implantable cardiac defibrillators, pain stimulation devices, and the typically high-growth transcatheter aortic valve replacement systems.
But in orthopaedics, Smith & Nephew, NuVasive and Globus Medical all outperformed Wall Street expectations. Growth in joint repair and spine devices helped the companies to year-over-year revenue growth of approximately 5%, 6%, and 10%, respectively.
Coronavirus was again a talking point. Executives at Smith & Nephew and Medtronic both called the situation "fluid," noting potential impact from a decline in elective procedures while authorities seek to contain the outbreak.
Medtechs scheduled to report earnings next week include Tandem Diabetes, Insulet, Intersect ENT, ICU Medical, Nevro and LivaNova.