5/12/08
Daily News
MDL Finance now features a "Daily Financial News" section. It will bring you the latest business news from the medical device industry, with updates every weekday.
This Week
Several medical device companies are scheduled to release earnings information this week, including NxStage Medical (nxtm ) and Given Imaging (givn). Also this week, Abbott (abt) will host a conference call related to its new drug-eluting stent, which has received a lot of positive buzz related to its efficacy in trials thus far. Follow the links to the right to listen to these and other webcasted conference calls throughout the week.
Last Week
Arthrocare (artc) acquired OrtoConcept Scandinavia last Tuesday, a former distributor of the company's products. Also last week, Alpine Woods Capital Investors increased its stake in Arthrocare by buying another 6,250 shares of stocks. The company's shares were down at the beginning of the week after being downgraded by an analyst. ... Mindray Medical (mr) posted a healthy 62% increase in profit, beating analysts' expectations and seeing its stock rise by almost 12% on Thursday. The company also announced that it will likely complete its acquisition of Datascope this month. ... Nuvasive (nuva) will purchase a bone-regeneration treatment of Osiris Therapeutics (osir) for up to $85 million. ... Medtronic (mdt) announced last Tuesday that they'd restrucutre in a way that would eliminate 1,100 jobs, which did not affect shares. ... Obagi Medical Products (ompi) cut guidance for 2008 sales and lost almost half the value of its shares, shedding more than $.90 per share.
