Medtronic (NYSE: MDT), a manufacturer of a whole host of medical devices involved with the management of diabetes and cardiovascular disease, released its Q1 data on Tuesday. Revenues increased 6%, and adjusted earnings per share came in at 79 cents (some of the adjustments were related to restructuring and litigation issues).

The company was able to grow the adjusted-per-share bottom line by 10%. In addition, according to Reuters, Medtronic beat estimates by a penny. Shareholders should keep in mind, however, that the quarter benefited from an extra week.

Continue reading Medtronic increases adjusted income, beats by a penny

Medtronic increases adjusted income, beats by a penny originally appeared on BloggingStocks on Wed, 26 Aug 2009 11:00:00 EST. Please see our terms for use of feeds.

Boston Scientific (NYSE: BSX), an expert in medical devices and a colleague of Johnson & Johnson (NYSE: JNJ), reported earnings for the second quarter on Monday after the closing bell. Wall Street liked the results. Shares of the company were bid higher by 5.8% in the after-hours session.

Net sales increased 7%. On an adjusted basis, Boston Scientific made 20 cents per share. According to Earnings.com, the business was supposed to bring in only 13 cents per share. Thus, management did a superb job of beating the analysts at their precious game. Unfortunately, Boston Scientific made the same amount of adjusted profit in the year-ago period, so there wasn't any growth on the bottom line.

Continue reading Boston Scientific tops estimates and guides higher

Boston Scientific tops estimates and guides higher originally appeared on BloggingStocks on Tue, 21 Jul 2009 09:00:00 EST. Please see our terms for use of feeds.

Continue reading Medtronic (MDT) higher on optimistic outlook

Medtronic (MDT) higher on optimistic outlook originally appeared on BloggingStocks on Tue, 19 Feb 2008 11:11:00 EST. Please see our terms for use of feeds.

Medical device manufacturer Medtronic Inc. (NYSE: MDT) released 2Q 2008 results last week that inflicted some pain on investors. Total revenues increased by 2%. Sales outside the US increased 12%, but $73 million of that increase was due to currency exchange, not organic growth. Fully one-third of all Medtronic sales now originate outside the US.

CEO Bill Hawkins remains optimistic about "strong growth potential going forward," which is about as much of an admission one will get that the current numbers leave a lot to be desired. The company is focused on growing non-US sales, which is a smart move since Medtronic has already suspended US product shipments in its physio-control division due to unauthorized human bones used in some procedures. More recently, the recall of Fidelis cardioverter defibrillators in the company's largest division caused revenue to plummet by at least $130 million, in addition to $31 million inventory write-off.

On a positive note, the acquisition of Kyphon will begin to contribute to the bottom line in the spinal division sooner than expected, and both the diabetes and ear, nose and throat divisions posted 16% increases in revenue. The company expects final FDA approval for a drug-eluting stent by the end of the calendar year, so look for contributions to the cardiovascular bottom line in 2008.

Medtronic needs some pain relief originally appeared on BloggingStocks on Tue, 27 Nov 2007 14:44:00 EST. Please see our terms for use of feeds.

A Swedish study of 35,000 patients reported last week that drug-coated stents posed little risk to heart patients. But a newer survey by European doctors shows that "patients given drug-coated stents after an acute heart attack are nearly five times more likely to die six months to two years later than those with bare metal forms of the arterial scaffolding." Doctors at the European Society of Cardiology said the finding showed the need to be very selective about giving drug stents to the right patients.

Reuters also makes that point that a Swedish study presented on Sunday, involving 35,000 patients, found no overall increased risk for heart patients between drug and bare stents after four years of follow-up -- a reversal of the same researchers' earlier three-year findings that patients with coated stents were more at risk.

The New York Times reports that stent sales "hit nearly $6 billion globally last year but have since fallen sharply. They are forecast to be as much as $1 billion lower this year in the United States alone."

The two big drug stent companies, Boston Scientific (NYSE:BSX) and Johnson & Johnson (JNJ), have been hurt by medical research attacking the safety of their products disputed the new study. No wonder. Boston Scientific's shares are down 50% over the last two years.

Douglas A. McIntyre is a partner at 24/7 Wall St.

Johnson & Johnson (JNJ) and Boston Scientific (BSX) face more stent trouble originally appeared on BloggingStocks on Wed, 05 Sep 2007 09:45:00 EST. Please see our terms for use of feeds.

Electro Optical Sciences (NASDAQ: MELA) makes a hand-held medical device to assist in the early diagnosis of melanoma (skin cancer). The device emits multiple wavelengths of light when scanning areas of skin and then records differences in skin pigmentation. Such records will assist dermatologists in determining whether a skin lesion is pre-cancerous and/or should be investigated further rather than waiting for the suspicious skin patch to actually manifest skin cancer symptoms. Electro Optical Sciences began clinical trials of the device in January 2007 at 20 different sites. The FDA has agreed to give expedited approval for the device should clinical trial results merit approval. FDA approval could be granted as early as mid 2008.

Electro Optical Sciences currently has neither a commercial product nor revenues. What it does have is a successful record of developing medical imaging devices and then licensing them to suitable companies that have the necessary resources to bring the devices to market. Electro Optical Sciences followed this procedure in bringing to market its DIFOTI device for detecting tooth decay. To date, Electro Optical Sciences has been reluctant to take on debt to finance continued R&D and clinical trials. The company has been financing its research through National Institutes of Health SBA grants as well as by private placement stock sales. The company recently placed another $12 million in stock to continue clinical trials and data interpretation.

This is a stock to keep in the back of one's mind while awaiting the clinical trial results. If those results are positive, look for Electro Optical Sciences to seek a partner, perhaps ASKION, to commercialize the product. Currently, the stock is difficult for individual investors to purchase and is a pure speculative play. The stock currently trades at $5.37. Expect this price to rise or fall dramatically as a result of the clinical trials. Such information on the company as is publicly available can be found at the website: www.eo-sciences.com. The company rarely issues press releases but does file 10-K and 10-Q forms with the SEC.

Electro Optical Sciences (MELA) worth a look originally appeared on BloggingStocks on Wed, 15 Aug 2007 09:30:00 EST. Please see our terms for use of feeds.