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.
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Snapshot: How medtech earnings season is shaping up
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Axonics execs bullish on breaking Medtronic market stranglehold
By Nick Paul Taylor • March 5, 2020The medtech contends its rechargeable sacral neuromodulation device is making quicker headway in the marketplace than anticipated as it takes on the incumbent. Read the full article ➔
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Livongo tops Q4 estimates with contributions outside of diabetes
By Susan Kelly • March 3, 2020In its third quarterly earnings report since going public in 2019, the digital health company said its total diabetes members doubled from a year ago and its hypertension and pre-diabetes platforms are gaining traction. Read the full article ➔
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Wright Medical misses Q4 targets as Cartiva shortfall persists
By Maria Rachal • Feb. 26, 2020In its annual report, the Stryker target said revenues from its 2018 acquisition of the synthetic cartilage implant maker totaled $25.7 million, compared to the $47 million it had hoped for at the start of the year. Read the full article ➔
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Tandem shapes FDA strategy for new insulin pump features
By Maria Rachal • Feb. 25, 2020Fourth quarter revenues grew 42%, roughly in line with Wall Street's expectations. Shares were down 7% in late morning trading. Read the full article ➔
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Guardant predicts net loss doubling as it takes on Exact Sciences' Cologuard
By Nick Paul Taylor • Feb. 25, 2020The cancer testing company's CEO said new studies could open up significant market opportunities, justifying the spending surge. Read the full article ➔
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Ortho, spine players Smith & Nephew, NuVasive and Globus post Q4 results
By Nick Paul Taylor • Feb. 21, 2020The three rivals posted healthy sales growth, with Smith & Nephew topping $5 billion in revenue for 2019. Read the full article ➔
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Teleflex strikes $260M deal, gaining parts used in TAVR procedures
By Nick Paul Taylor • Feb. 20, 2020In releasing quarterly results, the Wayne, Pennsylvania-based medtech also gave updates on a new direct-to-consumer ad campaign and headwinds expected from the coronavirus outbreak. Read the full article ➔
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Medtronic misses revenue estimates as TAVR position falters
By Maria Rachal • Feb. 18, 2020A disappointing quarter for the medtech giant, with particular softness across pain therapies and cardiac rhythm and heart failure, sent shares down nearly 4% in morning trading Tuesday. Read the full article ➔
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Dexcom hopes wave of new customers offsets lower prices, Abbott's sweet spot
By Maria Rachal • Feb. 14, 2020The continuous glucose monitor maker also said it's planning a third manufacturing site, this time outside of the U.S., as it prepares for demand beyond its mainstay Type 1 diabetes market. Read the full article ➔
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LabCorp weathers rising personnel costs to beat expectations in Q4
By Nick Paul Taylor • Feb. 13, 2020Quest Diagnostics said the trend is an emerging source of pressure, while LabCorp had a more tempered reaction. Read the full article ➔
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Exact Sciences beefs up sales force as it seeks big Cologuard growth in 2020
By Nick Paul Taylor • Feb. 12, 2020The cancer diagnostics company said fresh TV ads and physicians' increasing ability to place orders through an updated version of Epic will spur sales of its colorectal cancer test. Read the full article ➔
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Longtime Myriad CEO resigns amid another steep earnings miss, guidance cut
By Nick Paul Taylor • Feb. 7, 2020Sales in the prenatal and hereditary cancer divisions, plus the seemingly promising GeneSight line, all declined during the quarter. Read the full article ➔
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BD cuts 2020 guidance on Alaris pump hangup with FDA, stock tanks
By Maria Rachal • Feb. 6, 2020"Resetting expectations is certainly not how I want to start my first call as CEO," new BD head Tom Polen told analysts. Shares were down as much as 13% Thursday morning. Read the full article ➔
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Abiomed, on defense, plans wave of trials to counter Impella criticism
By Nick Paul Taylor • Feb. 6, 2020The maker of the heart pump is seeking to quash doubts after two large observational studies suggested the product was more risky and pricey than alternative treatments. Read the full article ➔
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Boston Scientific expects up to $40M hit in Q1 from coronavirus
By Maria Rachal • Feb. 5, 2020Ongoing integration of its $4.2 billion acquisition of BTG and pricing headwinds for drug-eluting stents may also temper growth, the company said on its earnings call Wednesday. Read the full article ➔
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Qiagen, still independent, limps back from 2019
By Nick Paul Taylor • Feb. 5, 2020The Dutch maker of infectious disease instruments and consumables is seeking a rebound, with an early boost from coronavirus-driven demand. Cowen analysts noted the firm beat expectations but added: "The bar was quite low." Read the full article ➔
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Zimmer's Rosa robot drives Q4 growth, restructuring set
By Maria Rachal • Feb. 4, 2020But the company did not specify total knee system placements like robotics competitor Stryker. It's going to "take a while to disrupt that inertia" from rival systems, CEO Bryan Hanson told investors. Read the full article ➔
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Edwards saw US TAVR procedures spike 40% in Q4
By Nick Paul Taylor • Jan. 31, 2020The question now is whether the broader transcatheter aortic valve replacement market can maintain the bar set by the explosive end to 2019. Read the full article ➔
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Robot sales spike to new high as Stryker eyes growth in Japan
By Maria Rachal • Jan. 29, 2020As Stryker keeps integrating K2M into its spine business and works to close the upper extremities-driven Wright Medical buyout in 2020, momentum with Mako robot sales is helping orthopaedics share. Read the full article ➔
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Major conglomerates 3M, GE, Philips bet on healthcare
By Nick Paul Taylor • Jan. 30, 2020The corporate giants' earnings reports this week indicate medical segments are increasingly important to strategy as other businesses decline. Read the full article ➔
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Abbott ups 2020 growth targets, downplays Libre 2 delay
By Maria Rachal • Jan. 22, 2020After exceeding the high end of its 2019 sales forecast on success in electrophysiology, heart failure, structural heart and diabetes, the company forecasts up to an 8% rise in organic growth this year. Read the full article ➔
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Medical device sales flat, J&J CEO promises big year for robots
By Nick Paul Taylor • Jan. 22, 2020A Medical Device Business Review Day scheduled for this spring in New York City will feature "tangible evidence of not only the machines, but also the digital platform component," Alex Gorsky said of J&J's robotic surgery ventures. Read the full article ➔
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Intuitive eyes new surgery types as competitive pressure looms
By Maria Rachal • Jan. 24, 2020As noise from robotic surgery newcomers grows, Intuitive is prioritizing wider use of da Vinci in hernia repairs, colorectal procedures and bariatrics. Read the full article ➔
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Nevro, NuVasive, Integra, others preview earnings at JPM
By Maria Rachal • Jan. 13, 2020Wednesday's lineup of medtech presenters includes Exact Sciences, Intersect ENT, ICU Medical and handheld ultrasound device maker Butterfly. Read the full article ➔
