Could Medtronic Have Better Spent $43 Billion?
Paul Nouri, CFP
Paul Nouri, CFP
Growth Needs Resuscitation, But Medtronic Still Looks Like A Value
Stephen Simpson, CFA
Stephen Simpson, CFA
Wed, Mar. 23, 1:13 PM
- The FDA has approved privately held Stimwave, LLC's StimQ Peripheral Nerve Stimulator (PNS) System for the relief of severe intractable chronic pain of peripheral origin. StimQ PNS is a wireless, fully programmable PNS neuromodulation device that can be implanted through a standard needle-size insert or small incision. According to the company, the product's small size minimizes the need for surgery and is much more patient-friendly, avoiding the larger cables and bulky components of other neuromodulators.
- StimQ is less than 5% of the size of other implanted pain relief devices. it is powered by a small fabric patch unit that is worn on the body.
- Pain relief device-related tickers: (STJ -0.1%)(BSX -1%)(MDT -0.2%)(GB +2.9%)(NURO -1.6%)
Fri, Mar. 18, 11:38 AM
- Applied Genetic Technologies (AGTC +0.8%) initiated with Buy rating with $25 (85% upside) price target by Janney Capital.
- Nomura's Ed Ridley has been busy in devices. He rates the following companies a Buy: Boston Scientific (BSX +1%) PT: 22 (22% upside); Zimmer Biomet Holdings (ZBH +0.3%) PT: 123 (18% upside); Edwards Lifesciences (EW +0.8%) PT: 101 (19% upside); St. Jude Medical (STJ +0.5%) PT: 64 (19% upside); Stryker (SYK +0.7%) PT: 115 (6% upside); Medtronic (MDT +0.8%) PT: 86 (13% upside). He rates C.R. Bard (BCR +0.7%) Neutral with a PT of $205 (5% upside).
- Tesaro (TSRO +2.6%) initiated with Buy rating and $65 (46% upside) price target by Citigroup.
- CRH Medical (CRHM +0.1%) initiated with Buy rating and $5 (48% upside) price target by Canaccord Genuity.
- Evoke Pharma (EVOK) initiated with an Outperform rating and $16 (258% upside) price target by Northland Securities.
- NanoString Technologies (NSTG -0.2%) initiated with Buy rating and $21 (31% upside) price target by Janney Capital.
- AbbVie (ABBV +0.6%) initiated with Hold rating and $63 (13% upside) price target by Deutsche Bank.
Tue, Mar. 15, 6:49 PM
- An FDA advisory panel has given unanimous support to a one-of-a-kind dissolving heart stent from Abbott Laboratories (ABT -1.5%).
- The "Absorb" stent is made to dissolve within three years of implantation, after it restores blood flow to a blocked artery. In a 9-0 vote, the FDA's panel decided the benefits of Absorb outweighed the risks, forecasting a likelihood of full FDA approval.
- Such a stent would eventually provide more natural artery motion in comparison with Abbott's market-leading Xience metal stent, which is permanently implanted.
- If approved, the new stent would compete with those made by competitors: Resolute, by Medtronic (MDT -0.9%), and Synergy and Promus, from Boston Scientific (BSX -1.3%). Wells Fargo has estimated that Absorb could initially capture about 5% of the drug-eluting stent market.
Tue, Mar. 1, 7:16 AM
- Medtronic (NYSE:MDT) fiscal Q3 results ($M): Total Revenues: 6,934 (+60.6%); Cardiac & Vascular: 2,410 (+8.4%); Minimally Invasive Therapies: 2,291; Restorative Therapies: 1,759 (+6.9%); Diabetes: 474 (+5.6%).
- Net Income: 1,095 (+12.1%); EPS: 0.77 (-21.4%); Non-GAAP EPS: 1.06 (-0.9%); CF Ops (9 mo.): 3,892 (+30.2%).
- Fiscal 2016 Guidance: Revenue growth: 5.0 - 5.5%; Non-GAAP EPS: $4.36 - 4.40 (includes negative currency impact of $0.45 - 0.50).
- Fiscal Q4 Guidance: Revenue growth: 5.0 - 5.5%, Negative impact from foreign currency: $180M - 220M.
Tue, Mar. 1, 7:14 AM
Mon, Feb. 29, 5:30 PM
Fri, Feb. 26, 10:33 AM| Fri, Feb. 26, 10:33 AM | 18 Comments
Wed, Feb. 17, 4:47 PM| Wed, Feb. 17, 4:47 PM
Wed, Feb. 17, 4:32 PM
- The Circulatory System Devices Panel of the FDA's Medical Devices Advisory Committee will meet tomorrow to review and make recommendations on clinical trial and postapproval study design and physician training requirements for leadless cardiac pacemakers. The committee will be asked to make recommendations on the acceptability of adverse event rates in acute and chronic time frames, indications for use of the devices, required training and acceptability of observed learning curves and the necessary elements of postapproval studies.
- Executive summary & questions
- Micra panel pack
- Nanostim panel pack
- AHA statement
- Related tickers: (NYSE:MDT)(NYSE:STJ)(NYSE:BSX)
Mon, Jan. 11, 1:35 PM
- Medtronic (MDT -1.5%) announces its updated guidance for 2016. Key points:
- Non-GAAP EPS: 4.36 - 4.40 (includes negative currency movement of $0.45 - 0.50); revenue growth: mid-single digit by H2.
- Share repurchase program: $5B to be executed before the end of fiscal 2018. Most of remaining $4.3B (from previously announced internal reorganization that freed up $9.3B in cash) to be used to retire/prepay existing debt also by the end of 2018.
- Targeted dividend payout ratio maintained at 40%.
Mon, Jan. 11, 12:29 PM
- Trading in Medtronic (MDT -0.7%) was halted at 12:27 pm ET pending news.
Dec. 10, 2015, 9:43 AM| Dec. 10, 2015, 9:43 AM
Dec. 9, 2015, 10:22 AM
- The FDA approves privately held Stimwave Technologies' Freedom-8A Spinal Cord Stimulation (SCS) System for the treatment of chronic back and leg pain. The fully programmable wireless device features a compact 0.4 cc profile and eight electrodes that are implanted in an outpatient setting through a standard needle without the need for general anesthesia or large surgical incision. Full commercial launch will commence in early 2016.
- Related tickers: (MDT +0.4%)(STJ +0.5%)(BSX -0.4%)(NVRO)
Dec. 3, 2015, 7:45 AM
- Medtronic (MDT -0.5%) FQ2 results: Revenues: $7,058M (+61.7%); R&D Expense: $545M (+45.7%); SG&A: $2,343M (+55.5%); Operating Income: $1,300M (+26.2%); Net Income: $520M (-37.2%); EPS: $0.36 (-56.6%); Non-GAAP EPS: $1.03 (+1.0%); Quick Assets: $2,378M (-50.9%).
- Segment Revenues: Cardiac Rhythm & Heart Failure: $1,324M (+0.3%); Coronary & Structural Heart: $754M (+1.5%); Aortic & Peripheral Vascular: $404M (+81.2%); Surgical Solutions: $1,291M; Patient Monitoring & Recovery: $1,065M; Spine: $719M (-3.6%); Neuromodulation: $482M (-2.4%); Surgical Technologies: $426M (+3.9%); Neurovascular: $143M; Diabetes Group: $450M (+4.7%).
- FY2016 Guidance: Non-GAAP EPS: $4.33 - 4.40.
Dec. 3, 2015, 7:17 AM
- Medtronic (NYSE:MDT): FQ2 EPS of $1.03 beats by $0.03.
- Revenue of $7.06B (+61.6% Y/Y) in-line.
Dec. 2, 2015, 5:30 PM
Medtronic Plc engages in the medical technology-alleviating pain, restoring health, and extending life for millions of people around the world. Its primary customers include hospitals, clinics, third-party health care providers, distributors, and other institutions, including governmental health... More
Industry: Medical Appliances & Equipment
Country: United States
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