Nov. 5, 2013, 4:11 PM
- Mako Surgical (MAKO): Q3 EPS of -$0.45, misses by $0.33.
- Revenue of $22.8M, misses by $10.2M. (PR)
Oct. 15, 2013, 2:44 PM
- On emerging markets: JNJ CFO Dominic Caruso says the company maintained "double-digit growth ... somewhere near 11%, 12% combined in the BRIC markets," for Q3. As for China, JNJ saw "an overall slower level of market growth" for the period.
- In response to JPMorgan analyst Mike Weinstein's question regarding growth in the consumer business: "The consumer business has had some challenges related to the overall economic slowdown [but] certain pockets of the business ... are doing extremely well," Caruso notes, adding that although JNJ "still [has a] little ways to go with some innovation ... the emerging markets consumer business continues to do well [as] those consumers begin to purchase more personal care products."
- On the SYK-MAKO deal: DePuy Synthes Chairman Michel Orsinger says "robotics, in its current stage ... has not yet been proven [to be] the best solution to address outcomes, efficiency and costs," and while "It has theoretical incremental improvement in surgical accuracy [it comes] with increased significant surgical time and capital cost."
- CC transcript
- Q3 earnings rundown
Oct. 2, 2013, 8:35 AM
- "For [us] the device tax is clearly a negative. It's 2.3% of sales, roughly $100M a year, which represents roughly 20% of our [research-and-development] budget," Stryker (SYK) CEO Kevin Lobo says, discussing the impact of the Affordable Care Act with WSJ. Lobo is advocating — along with some members of Congress and the trade group AdvaMed — for a repeal of the excise tax.
- Some say the tax emanates from the medical device industry's reluctance to make pledges to help pay for the new healthcare law: "You either come to the table early, or you end up part of the dinner," one insider told WSJ in the early days of Obamacare wrangling.
- On the positive side of things, Lobo says "there are many sensible elements of [the] legislation," and the CEO says his company's hospital bed and knee replacement businesses should benefit from the law.
- As for the 89% premium the company paid for Mako (MAKO), Lobo says "the potential is enormous and it can really provide significant differentiation."
Sep. 25, 2013, 4:11 PM
- Also getting a boost Wednesday from the Stryker-Mako (SYK, MAKO) deal was Hansen Medical (HNSN) which posted double-digit gains (+14%) for the session.
- Intuitive Surgical (ISRG) and Accuray (ARAY) finished the day higher by 1% and 1.9% respectively.
- Meanwhile, commentary continues to come in regarding the seemingly high price SYK paid in the deal. BMO's Joanne Wuensch says that despite the lofty premium, "it makes a lot of sense [as] SYK takes a step forward into robotic surgery and consolidates its orthopedic silo."
- Previous coverage here
Sep. 25, 2013, 12:46 PM
Sep. 25, 2013, 10:36 AM
- Stryker (SYK -2.3%) "is paying 12.4x EV/sales [for MAKO] on our 2013 sales estimate which is relatively high," Wells Fargo's Larry Biegelsen notes, adding that "the 2 most recent ortho deals, MDT's acquisition of Kanghui and SYK's acquisition of Trauson went for 11.6x and 8.7x, on an EV/sales basis respectively."
- Nevertheless, Biegelsen thinks SYK is getting a "differentiated asset" — Wells has been bullish on MAKO since May. SYK is reiterated at Outperform.
- TheStreet's Antoine Gara notes that as of September 13, 22% of MAKO's float was sold short.
- More on the deal here
Sep. 25, 2013, 9:15 AM
Sep. 25, 2013, 8:52 AM
Sep. 25, 2013, 8:14 AM
- Mako Surgical (MAKO) shareholders get welcome news, as Stryker (SYK) is set to acquire the medical device company for $30/share, an 86% premium to Tuesday's close.
- SYK CEO Kevin Lobo is particularly excited about what the deal means for the future of joint reconstruction: "Our combined expertise offers the potential to simplify joint reconstruction procedures, reduce variability and enhance the surgeon and patient experience," he says.
Jul. 31, 2013, 9:12 AM
Jul. 30, 2013, 4:23 PM
- The number of MAKOplasty procedures performed in Q2 rises 26% Y/Y and 10% sequentially.
- 10 RIO systems were sold in Q2 versus five in Q1.
- Outlook is unchanged at 45-48 RIO systems sold and 13,500-14,500 MAKOplasty procedures performed. MAKO +8.16% AH. (PR)
Jul. 30, 2013, 4:12 PM
- Mako Surgical (MAKO) Q2: EPS -$0.42 misses by $0.21.
- Revenue of $28.2M (+19% Y/Y) misses by $0.65M.
- 3,274 MAKOplasty procedures performed during the period. Shares +5.93% AH. (PR)
Jul. 30, 2013, 12:10 AM
- ACAS, ACMP, AFL, AMGN, ANAD, APU, BOOM, BSMX, BWLD, BXP, CALX, CAP, CBI, CENX, CHMT, CLD, CSE, CVD, DRIV, ELGX, EQR, EXTR, FARO, FISV, FTNT, GDOT, GNW, GPRE, HBI, HR, HT, IACI, INVN, ISIL, JIVE, KIM, LOPE, MAKO, MERU, MKTO, MSPD, MTGE, MWA, MX, NANO, NCR, NEU, NSR, NUVA, OIS, OKE, OKS, POL, PRAA, QCOR, QGEN, RBC, RPXC, RVBD, SIMG, SKT, SM, SNCR, SYMC, TRLG, TRMB, TTS, TTWO, UGI, ULTI, VRSK, WFT, WNC, XXIA
Jul. 29, 2013, 5:35 PM
- ACAS, ACMP, AFL, AMGN, ANAD, APU, BOOM, BSMX, BWLD, BXP, CALX, CAP, CBI, CENX, CHMT,CLD, CSE, CVD, DRIV, ELGX, EQR, EXTR, FARO , FISV, FTNT, GDOT, GNW, GPRE, HBI,HR, HT, IACI, INVN, ISIL, JIVE, KIM, LOPE, MAKO, MERU, MKTO, MSPD, MTGE, MWA,MX, NANO, NCR, NEU, NSR, NUVA, OIS, OKE, OKS, POL, PRAA, QCOR, QGEN, RBC,RPXC, RVBD, SIMG, SKT, SM, SNCR, SYMC, TRLG , TRMB, TTS, TTWO, UGI, ULTI, VRSK,WFT, WNC, XXIA
May 28, 2013, 2:34 PM
Shares in Mako Surgical (MAKO +11.3%) move up today on heavy volume, pushing up towards the top of a channel its's traded in for most of this year after Wells Fargo ups their rating to Outperform from Market Perform. Wells thinks that MAKO’s new hip software for its RIO robot addresses concerns that have limited its adoption since launching in September 2011. The firm expects hip procedure growth, which represents a significantly large percentage of its projected revenue stream, should accelerate following the release of the software around July.| May 28, 2013, 2:34 PM
May 28, 2013, 9:14 AM