Friday, May 10, 10:45 AM
Tornier (TRNX -0.7%) prices its 7M share public offering at $16.15, just a 1.5% discount to yeserday's closing price. Of the 7M shares sold, 4.5M were by TRNX, while 2.5M were sold by existing shareholders. The company expects to use the net proceeds for working capital, repayment and refinancing of debt and general corporate purposes, including clinical and product development, capital expenditures and the acquisition of technologies, products or businesses.
Comment![Healthcare, Global & FX]
Monday, November 12, 2012, 4:37 PM
Tornier (TRNX) announces the appointment of David Mowry as Interim President and CEO, effective immediately. Mr. Mowry, who joined TRNX in July 2011 as COO, succeeds retiring CEO and Executive Director Douglas Kohrs. Also effective immediately, Non-Executive Director, Kevin O’Boyle has been named Interim Vice Chairman to serve as a liaison between Mowry and the board. Mowry joined Tornier N.V. in July 2011 as Chief Operating Officer.
Friday, August 24, 2012, 2:04 PM
In an effort to expand its sales to foot and ankle surgeons, medical-device maker Tornier (TRNX +1.2%) acquires OrthoHelix Surgical Designs in a $135M cash and stock deal. Wells Fargo sees the match up as "smart" because it will increase the proportion of sales from the faster-growing extremities business versus its large-joint business.
Wednesday, February 15, 2012, 11:06 AM
Craig-Hallum initiates Tornier (TRNX +1.3%) with a Strong Buy rating and $26 price target, helping stir up above-average trading volume on the global medical device company.
Comment![On the Move]
Monday, January 9, 2012, 1:11 PM
Tornier (TRNX +4.3%) jumps after announcing preliminary Q4 sales of $69M (+12.7% Y/Y), beating Street estimates by $1.9M. The Dutch medical device maker's growth was driven by a 17.5% Y/Y increase in sales of prosthetics for extremities.
Comment![Healthcare, Earnings, On the Move]
Tuesday, November 1, 2011, 10:15 AM
Medical device manufacturer Tornier (TRNX -8%) trades down after JP Morgan cuts the stock to Neutral on valuation. The firm says that although it still believes in the company's long-term strategy, it prefers to move to the sidelines to see how the next few quarters "shake out."
1 Comment[On the Move, Healthcare]