OrthoNews
July 28, 2016 at 4:25 p.m.
By -
From Forbes.com
NEW YORK - Zoll Medical Corp. was a top gainer in the medical device sector during the second quarter as rising North American and international sales boosted the company's share price. But fellow device maker Zimmer Holdings Inc. saw shares plunge during the last three months on disappointing revenue growth.
Shares of Chelmsford, Mass.-based Zoll, Arlington, Tenn.-based Wright Medical Group Inc. (nasdaq: WMGI) and Minneapolis-based Medtronic Inc. (nyse: MDT) saw double-digit share gains as sales boomed.
Zoll's stock gained 33 percent over the quarter as Wall Street applauded the company's performance. During the first quarter, sales of its resuscitation devices helped drive a 40 percent jump to revenue of $99.2 million. The results prompted the company to boost its full-year profit outlook.
Shares of Wright Medical gained 22 percent on equally positive sentiment for the company's implantable heart devices and other medical products. International and domestic sales drove first-quarter revenue up 23 percent to $115.9 million, prompting Wright to lift full-year sales guidance to a range of $455 million and $465 million, from a prior forecast of $430 million to $440 million.
Medtronic, which began its fiscal first quarter in May, saw shares rise 7 percent since April as the company continues with its global restructuring program, which will trim jobs and consolidate operations.
Zimmer shares, meanwhile, fell 11 percent as Wall Street found knee and hip product sales slower than expected in the first quarter. Franklin Lakes, N.J.-based Becton, Dickinson and Co. and San Antonio, Texas-based Kinetic Concepts (nyse: KCI) Inc. also lost ground despite meeting sales expectations.
Becton shares fell 8 percent during the quarter while Kinetic shares fell 10 percent.
Overall, Wall Street has a positive outlook for the medical device and technology sector moving forward, as aging populations in developed countries and booming markets in emerging economies continue driving sales.
Prosthetics Market Report Available
From Marketwire
LONDON, UNITED KINGDOM - Reportlinker.com recently announced that a new market research report related to the Orthopedics industry is available in its catalogue.
World Orthopedic Prosthetics Market: http://www.reportlinker.com/p090647/World-Orthopedic-Prosthetics-Market.html
This report analyzes the worldwide markets for orthopedic prosthetics in millions of U.S. dollars.
The specific product segments analyzed are hip prosthesis, knee prosthesis, and secondary joint prosthesis (shoulder prosthesis, and other secondary joint prosthesis). The report provides separate comprehensive analytics for the U.S., Canada, Japan, Europe, Asia Pacific, Latin America, and the rest of the world.
Annual forecasts are provided for each region for the period of 2001 through 2015. A 10-year historic analysis also is provided for these markets with annual market analytics.
The report profiles 64 companies including many key and niche players worldwide such as Biomet Inc., Corin Group PLC, DePuy Orthopedics Inc., DJO Surgical, Smith & Nephew PLC, Stryker Corp., Wright Medical Group Inc., and Zimmer Holdings Inc. Market data and analytics are derived from primary and secondary research.
Company profiles are mostly extracted from URL research and reported select online sources.
DePuy's Raynham Mass. Expansion OK'd
From GateHouse News Service
RAYNHAM, Mass. - A planning board in Raynham, Mass., recently approved a motion to allow DePuy Orthopaedics to build a new $18 million medical education facility.
The planning board voted unanimously to allow DePuy Orthopaedics, a division of Johnson & Johnson, to construct a two-story, 69,700-square-foot training center on the parking lot of the existing J&J campus on Paramount Drive.
When completed, the center is expected to train about 4,000 visiting surgeons to use DePuy's orthopedic implant devices each year.
The planning board vote took place a day after the Massachusetts Economic Assistance Coordinating Council approved a special tax plan, called a TIF, at a hearing in Boston.
"It would solidify the long-term future for DePuy for staying in Massachusetts and more importantly for the town of Raynham," said Town Planner Richard McCarthy, who attended both meetings.
There was very little opposition to the projects, as business leaders and town officials alike showed strong support since the plan was announced in April.
A special permit was needed from the Planning Board to allow DePuy to opt out of a requirement for 279 parking spaces. But the stipulation was waived after engineers showed that the existing parking lot could handle the new structure's parking needs.
The TIF will save the company, which is Raynham's biggest taxpayer, about $1.1 million over 13 years, while bringing in $1.7 million in property tax revenue.
A spokesman for DePuy said a date for the groundbreaking ceremony was forthcoming.
The project may lead to added construction in Raynham, as J&J owns a 20 acre lot also Paramount Drive.
Biomet Inc. Announces Completion Of Registered Exchange Offers
From BusinessWire
Biomet Inc. announced the completion of exchange offers for all of its outstanding 10% Senior Notes due 2017, 10%/11% Senior Toggle Notes due 2017 and 11% Senior Subordinated Notes due 2017, which are not registered under the Securities Act of 1933 (the "Original Notes") for an equal principal amount of its 10% Senior Notes due 2017, 10%/11% Senior Toggle Notes due 2017 and 11% Senior Subordinated Notes due 2017, respectively, which have been registered under the Securities Act of 1933. The exchange offers expired at 5 p.m., New York City time June 26.
INVESTIndiana Conference To Showcase Northern Indiana Public Companies
INDIANAPOLIS - Three Northern Indiana public companies will take part in an Indiana-focused professional investment conference reaching regional and Wall Street stock analysts and professional money managers.
The inaugural INVESTIndiana equity conference, scheduled to take place Sept. 11 at Lucas Oil Stadium, Indianapolis, is the first such event to bring together Indiana public companies of various sizes, industries and capitalizations, for presentations to the investment community and industry analysts.
The Northern Indiana companies taking part in the inaugural INVESTIndiana equity investment conference are (in alphabetical order):
* Lakeland Financial Corporation, (NASDAQ: LKFN), Warsaw;
* Steel Dynamics Inc., (NASDAQ: STLD), Fort Wayne;
* Zimmer Holdings Inc., (NYSE: ZMH), Warsaw
"For the companies, it provides a way to increase institutional investor awareness, educate analysts about the region and reach out to new investors," said Terry McWilliams, an investor relations executive who is the conference's organizer.
"As a day-long conference, it's a convenient way for professional investors and analysts to gain in-depth insight into the performance and growth prospects of leading Indiana public companies - all in one place," he said.
Companies from several industry sectors are represented, including manufacturing, high-tech/electronics, materials, financial, real estate and medical/healthcare sectors.
The Indianapolis financial analyst community, through the CFA Society of Indianapolis, is formally involved with the event and serves on an advisory board of financial, corporate and investor relations professionals planning and overseeing the conference. Attendance is limited to qualified financial professionals.
"Not only does INVESTIndiana focus additional attention on Indiana's public companies, but the conference raises the state's profile as an excellent place for business and investment," said Erni Mann, an executive for Crowe Chizek and Company LLC, one of the title sponsors. "It's a natural fit for Crowe, since we are a national firm, working globally with Indiana roots."
Steve Hackman, Chair of Ice Miller's Corporate/Mergers & Acquisitions Group, the other title sponsor, said, "As the largest law firm in Indianapolis, we are excited to help spotlight some of Indiana's most exciting and promising public companies by bringing their top executives to Lucas Oil Stadium. Having represented many of these companies in business, finance and SEC matters, we are confident that their stories will resonate with a wide variety of investors."
Additional support comes from platinum sponsors Butler University College of Business Administration and Hilliard Lyons; and gold sponsors NASDAQ OMX, Marsh USA, and the Wall Street Transcript. In-kind gold sponsors include Bandy Carroll Hellige Advertising, BitWise Solutions, Harding Poorman Group, Ipreo, and Prime Newswire, Inc. The event has been organized and planned with support from The CFA Society of Indianapolis and Mozaic Investor Relations.
More information about the conference is available at INVESTIndiana's website: www.invest-ind.com[[In-content Ad]]
From Forbes.com
NEW YORK - Zoll Medical Corp. was a top gainer in the medical device sector during the second quarter as rising North American and international sales boosted the company's share price. But fellow device maker Zimmer Holdings Inc. saw shares plunge during the last three months on disappointing revenue growth.
Shares of Chelmsford, Mass.-based Zoll, Arlington, Tenn.-based Wright Medical Group Inc. (nasdaq: WMGI) and Minneapolis-based Medtronic Inc. (nyse: MDT) saw double-digit share gains as sales boomed.
Zoll's stock gained 33 percent over the quarter as Wall Street applauded the company's performance. During the first quarter, sales of its resuscitation devices helped drive a 40 percent jump to revenue of $99.2 million. The results prompted the company to boost its full-year profit outlook.
Shares of Wright Medical gained 22 percent on equally positive sentiment for the company's implantable heart devices and other medical products. International and domestic sales drove first-quarter revenue up 23 percent to $115.9 million, prompting Wright to lift full-year sales guidance to a range of $455 million and $465 million, from a prior forecast of $430 million to $440 million.
Medtronic, which began its fiscal first quarter in May, saw shares rise 7 percent since April as the company continues with its global restructuring program, which will trim jobs and consolidate operations.
Zimmer shares, meanwhile, fell 11 percent as Wall Street found knee and hip product sales slower than expected in the first quarter. Franklin Lakes, N.J.-based Becton, Dickinson and Co. and San Antonio, Texas-based Kinetic Concepts (nyse: KCI) Inc. also lost ground despite meeting sales expectations.
Becton shares fell 8 percent during the quarter while Kinetic shares fell 10 percent.
Overall, Wall Street has a positive outlook for the medical device and technology sector moving forward, as aging populations in developed countries and booming markets in emerging economies continue driving sales.
Prosthetics Market Report Available
From Marketwire
LONDON, UNITED KINGDOM - Reportlinker.com recently announced that a new market research report related to the Orthopedics industry is available in its catalogue.
World Orthopedic Prosthetics Market: http://www.reportlinker.com/p090647/World-Orthopedic-Prosthetics-Market.html
This report analyzes the worldwide markets for orthopedic prosthetics in millions of U.S. dollars.
The specific product segments analyzed are hip prosthesis, knee prosthesis, and secondary joint prosthesis (shoulder prosthesis, and other secondary joint prosthesis). The report provides separate comprehensive analytics for the U.S., Canada, Japan, Europe, Asia Pacific, Latin America, and the rest of the world.
Annual forecasts are provided for each region for the period of 2001 through 2015. A 10-year historic analysis also is provided for these markets with annual market analytics.
The report profiles 64 companies including many key and niche players worldwide such as Biomet Inc., Corin Group PLC, DePuy Orthopedics Inc., DJO Surgical, Smith & Nephew PLC, Stryker Corp., Wright Medical Group Inc., and Zimmer Holdings Inc. Market data and analytics are derived from primary and secondary research.
Company profiles are mostly extracted from URL research and reported select online sources.
DePuy's Raynham Mass. Expansion OK'd
From GateHouse News Service
RAYNHAM, Mass. - A planning board in Raynham, Mass., recently approved a motion to allow DePuy Orthopaedics to build a new $18 million medical education facility.
The planning board voted unanimously to allow DePuy Orthopaedics, a division of Johnson & Johnson, to construct a two-story, 69,700-square-foot training center on the parking lot of the existing J&J campus on Paramount Drive.
When completed, the center is expected to train about 4,000 visiting surgeons to use DePuy's orthopedic implant devices each year.
The planning board vote took place a day after the Massachusetts Economic Assistance Coordinating Council approved a special tax plan, called a TIF, at a hearing in Boston.
"It would solidify the long-term future for DePuy for staying in Massachusetts and more importantly for the town of Raynham," said Town Planner Richard McCarthy, who attended both meetings.
There was very little opposition to the projects, as business leaders and town officials alike showed strong support since the plan was announced in April.
A special permit was needed from the Planning Board to allow DePuy to opt out of a requirement for 279 parking spaces. But the stipulation was waived after engineers showed that the existing parking lot could handle the new structure's parking needs.
The TIF will save the company, which is Raynham's biggest taxpayer, about $1.1 million over 13 years, while bringing in $1.7 million in property tax revenue.
A spokesman for DePuy said a date for the groundbreaking ceremony was forthcoming.
The project may lead to added construction in Raynham, as J&J owns a 20 acre lot also Paramount Drive.
Biomet Inc. Announces Completion Of Registered Exchange Offers
From BusinessWire
Biomet Inc. announced the completion of exchange offers for all of its outstanding 10% Senior Notes due 2017, 10%/11% Senior Toggle Notes due 2017 and 11% Senior Subordinated Notes due 2017, which are not registered under the Securities Act of 1933 (the "Original Notes") for an equal principal amount of its 10% Senior Notes due 2017, 10%/11% Senior Toggle Notes due 2017 and 11% Senior Subordinated Notes due 2017, respectively, which have been registered under the Securities Act of 1933. The exchange offers expired at 5 p.m., New York City time June 26.
INVESTIndiana Conference To Showcase Northern Indiana Public Companies
INDIANAPOLIS - Three Northern Indiana public companies will take part in an Indiana-focused professional investment conference reaching regional and Wall Street stock analysts and professional money managers.
The inaugural INVESTIndiana equity conference, scheduled to take place Sept. 11 at Lucas Oil Stadium, Indianapolis, is the first such event to bring together Indiana public companies of various sizes, industries and capitalizations, for presentations to the investment community and industry analysts.
The Northern Indiana companies taking part in the inaugural INVESTIndiana equity investment conference are (in alphabetical order):
* Lakeland Financial Corporation, (NASDAQ: LKFN), Warsaw;
* Steel Dynamics Inc., (NASDAQ: STLD), Fort Wayne;
* Zimmer Holdings Inc., (NYSE: ZMH), Warsaw
"For the companies, it provides a way to increase institutional investor awareness, educate analysts about the region and reach out to new investors," said Terry McWilliams, an investor relations executive who is the conference's organizer.
"As a day-long conference, it's a convenient way for professional investors and analysts to gain in-depth insight into the performance and growth prospects of leading Indiana public companies - all in one place," he said.
Companies from several industry sectors are represented, including manufacturing, high-tech/electronics, materials, financial, real estate and medical/healthcare sectors.
The Indianapolis financial analyst community, through the CFA Society of Indianapolis, is formally involved with the event and serves on an advisory board of financial, corporate and investor relations professionals planning and overseeing the conference. Attendance is limited to qualified financial professionals.
"Not only does INVESTIndiana focus additional attention on Indiana's public companies, but the conference raises the state's profile as an excellent place for business and investment," said Erni Mann, an executive for Crowe Chizek and Company LLC, one of the title sponsors. "It's a natural fit for Crowe, since we are a national firm, working globally with Indiana roots."
Steve Hackman, Chair of Ice Miller's Corporate/Mergers & Acquisitions Group, the other title sponsor, said, "As the largest law firm in Indianapolis, we are excited to help spotlight some of Indiana's most exciting and promising public companies by bringing their top executives to Lucas Oil Stadium. Having represented many of these companies in business, finance and SEC matters, we are confident that their stories will resonate with a wide variety of investors."
Additional support comes from platinum sponsors Butler University College of Business Administration and Hilliard Lyons; and gold sponsors NASDAQ OMX, Marsh USA, and the Wall Street Transcript. In-kind gold sponsors include Bandy Carroll Hellige Advertising, BitWise Solutions, Harding Poorman Group, Ipreo, and Prime Newswire, Inc. The event has been organized and planned with support from The CFA Society of Indianapolis and Mozaic Investor Relations.
More information about the conference is available at INVESTIndiana's website: www.invest-ind.com[[In-content Ad]]
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