Medtronic raises earnings forecast amid supply chain, diabetes business improvements

The company also shared an update on the planned divestment of its monitoring and respiratory interventions segments.

By Elise Reuter • Aug. 22, 2023

Cue Health wins $28M BARDA contract to develop rapid respiratory infection test

The company plans to launch the respiratory panel for the 2024-25 virus season and aims to break even in 2025.

By Nick Paul Taylor • Aug. 14, 2023

Illumina shakes up executive team, lowers 2023 outlook

The gene sequencing industry leader, which is operating under an interim CEO, named a new chief technology officer and announced the departure of its chief medical officer.

By Susan Kelly • Aug. 10, 2023

Anne-Françoise Nesmes to step down as Smith+Nephew CFO next year

The announcement comes as Smith+Nephew raised its forecast for the year to a 6% to 7% revenue increase, due to more favorable market conditions. 

By Nick Paul Taylor • Aug. 7, 2023

Stryker raises earnings forecast as procedures return to pre-pandemic levels

The company expects elevated procedure demand to continue into 2024 due to surgery backlogs.

By Elise Reuter • Aug. 4, 2023

BD prepares for relaunch of Alaris pump, raises revenue forecast

The pump relaunch isn’t expected to contribute much to this year’s revenue, but could help Becton Dickinson reach its long-term financial goals. 

By Elise Reuter • Aug. 3, 2023

Varian logistics slow growth at Siemens Healthineers in Q3

Healthineers has worked through some logistics problems but now faces a race to install Varian equipment at customer sites. 

By Nick Paul Taylor • Aug. 2, 2023

Vicarious expects to perform first human procedure with robot next year

The company, after disclosing layoffs in February, said it has gained clarity on its regulatory pathway following pre-submission meetings with the FDA.

By Susan Kelly • July 31, 2023

Integra warns impact of plant closure will continue into 2024, with delays possible

Management has built a buffer into the plan but cautioned unforeseen events could cause its timeline to slip.

By Nick Paul Taylor • July 31, 2023

Thermo Fisher eyes $450M in cost cuts due to slowing demand

The pullback in spending will include layoffs and lower investments in some areas of the business, company executives said.

By Susan Kelly • July 28, 2023

Dexcom hails CGM share gains as driver of 25% revenue growth in Q2

International market share gains and expanding coverage in the U.S. led the CGM maker to raise its revenue forecast for 2023.

By Nick Paul Taylor • July 28, 2023

Boston Scientific raises full-year forecast again, fueled by strong Q2

The company boosted its outlook for the second consecutive quarter and said patients face waitlists for procedures using its devices.

By Susan Kelly • July 27, 2023

Edwards’ TAVR results hurt by pandemic aftereffects and competition in Q2

Staffing is still not where Edwards “would have projected to be in absence of the pandemic.”

By Nick Paul Taylor • July 27, 2023

Baxter progresses with planned kidney care spinoff, expects biopharma solutions sale this quarter

The company expects hospital spending to increase in the second half of the year amid rising procedure volumes and a stabilizing supply chain. 

By Elise Reuter • July 27, 2023

Demand for 4-in-1 test helps Danaher’s COVID sales beat internal forecast

Danaher said it is continuing to take market share as many customers look to consolidate their point-of-care PCR testing platforms.

By Nick Paul Taylor • July 26, 2023

GE HealthCare plans cost cuts, raises earnings forecast

The company plans to improve its margins by cutting down on service agreements and by driving more efficiency in manufacturing and supply chain.

By Elise Reuter • July 25, 2023

Philips reports 9% sales jump, in rebound from sleep device recall

Litigation and a U.S. Justice Department investigation into the recall are ongoing, as are discussions on a proposed consent decree.

By Susan Kelly • July 24, 2023

Bariatric surgery slowdown nips Intuitive Surgical’s Q2 procedure growth

New weight-loss drugs are eroding demand for surgical procedures that employ the company’s robotic systems.

By Susan Kelly • July 21, 2023

Abbott Q2 net profit falls as weaker COVID test sales drag on revenue

Stronger medical device sales and a recovery in the infant formula business partly offset the impact of reduced COVID-19 testing.

By Susan Kelly • July 20, 2023

J&J earnings a ‘positive early indicator’ for medtech in Q2: analyst

The company raised its revenue and earnings forecast for the year, driven by new products and global procedure growth.

By Elise Reuter • July 20, 2023

Masimo plans cost cuts as Q2 revenue falls short of expectations

Shares of the patient-monitoring device maker dropped 22% after it said hospital orders for its equipment were delayed and demand for consumer products softened.

By Susan Kelly • July 18, 2023

Medtronic posts profit, sales growth in Q4, agrees to buy Korean diabetes patch maker

The company is “confident in delivering durable revenue growth in the year ahead” amid continued improvements in procedure volumes.

By Peter Green • May 25, 2023

Embecta joins Tidepool to develop insulin pump, raises Q2 growth outlook

Embecta advanced its pump project by partnering with Tidepool, a nonprofit that has developed diabetes management software that can work across different brands of pumps and monitors.

By Nick Paul Taylor • May 15, 2023

NuVasive grows sales in Q1, allaying concerns about impact of $3.1B Globus merger

The growth reflects “increased procedure volumes” and a “continued surge in demand” for NuVasive devices.

By Nick Paul Taylor • May 11, 2023

ZimVie will lay off 5% of staff in bid to reduce costs, streamline business

The restructuring, along with reductions in discretionary spending, are expected to save the company $17 million to $20 million by 2024.

By Elise Reuter • May 5, 2023