MedTech Dive is rounding up coverage of medical device and diagnostics companies' fourth quarter and full-year financial reports as earnings season unfolds, updating this collection weekly. Please note that some companies follow their own fiscal calendars.
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Roundup: Medtech earnings season continues to show COVID-19 uncertainty
Medical device and diagnostics companies are feeling the lingering effects, both positive and negative, from the global pandemic.
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Zimmer takes electives hit in Q4, to spin off spine, dental units
By Ricky Zipp • Feb. 5, 2021"There's just no doubt that COVID, unfortunately, remains a challenge ... We're seeing the pandemic pressure and the surges continue and, frankly, worsen across pretty much all of our regions and markets," said CEO Bryan Hanson. Read the full article ➔
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BD posts better-than-expected COVID-19 test sales, but flagship Veritor revenues to slow
By Ricky Zipp • Feb. 4, 2021Coronavirus testing revenues totaled $867 million, primarily made up by sales for the Veritor antigen test. Execs cited new virus variants and the potential for further slowing in elective care for a conservative forecast. Read the full article ➔
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Coronavirus uncertainty clouds Quest's 2d half amid Q4 revenue bump
By Greg Slabodkin • Feb. 4, 2021CEO Steve Rusckowski said he expects 2021 to be a strong year for COVID-19 testing, but the lab network predicts demand will likely decline throughout the year as more people are vaccinated. Read the full article ➔
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Roche diagnostics revenues up 28% fueled by COVID-19 antigen test demand
By Nick Paul Taylor • Feb. 4, 2021"The first half year is very clear. This is where we have most of our ... COVID sales for 2021. And then in the second half year, we'll see how certain things develop," the unit's CEO Thomas Schinecker told investors. Read the full article ➔
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Boston Scientific sees COVID-19 electives pressure in Q1, recovery in second half
By Ricky Zipp • Feb. 3, 2021A hit of 7.7% in sales, driven by drops in neuromodulation and interventional cardiology, missed Wall Street expectations in the medtech's fourth quarter report. Read the full article ➔
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PerkinElmer predicts sharp falloff in COVID-19 sales this year
By Nick Paul Taylor • Feb. 3, 2021In a relatively rare admission by a testing company, execs said they expect around 50% of 2021 coronavirus sales to come in the first quarter, beyond which vaccines are tipped to drive down demand. Read the full article ➔
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Thermo Fisher Q4 fueled by COVID-19, but testing demand seen slowing in 2021
By Greg Slabodkin • Feb. 1, 2021J.P. Morgan analyst Tycho Peterson noted the medtech's expected testing drop-off in 2021 is "steeper than what we've heard from others such as Hologic and Abbott." Read the full article ➔
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Siemens Q1 boosted by antigen tests, routine work normalizing
By Nick Paul Taylor • Feb. 1, 2021"We should not miss the fact that a fair share of this revenue growth would likely not have been there without the pandemic-related demand," CFO Jochen Schmitz acknowledged. Read the full article ➔
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Edwards' US TAVR sales fall as COVID-19 disrupts referrals
By Nick Paul Taylor • Jan. 28, 2021Analysts expected U.S. transcatheter aortic valve replacement sales to be flat in the fourth quarter but they fell by mid-single digits. Still, the company maintains guidance for global TAVR growth of 15-20% this year. Read the full article ➔
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Stryker falls short of Q4 sales amid electives pullback, robotics a bright spot
By Ricky Zipp • Jan. 27, 2021Double-digit growth in China was offset by hits in business in the U.S. and Europe. CEO Kevin Lobo told investors after volumes rebounded through October, large declines began in November and December. Read the full article ➔
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Abbott Q4 beat driven by COVID-19 test demand, devices come in flat
By Greg Slabodkin • Jan. 27, 2021CEO Robert Ford said the company exited 2020 with "tremendous momentum" and forecast 35% growth for this year. Read the full article ➔
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J&J misses Wall Street on hips, knees and spine amid global elective care slowdown
By Ricky Zipp • Jan. 26, 2021CEO Alex Gorsky predicted challenges to persist in 2021 but suggested that improvement is in sight. "The resiliency and the ability of hospital systems to continue with elective surgeries has improved quite significantly," he said. Read the full article ➔
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Ventilators, imaging drive GE healthcare profits up 27% as procedures even out
By Nick Paul Taylor • Jan. 26, 2021"Regionally, public healthcare markets such as Europe and China have been stronger than private markets, particularly the U.S., India and Latin America," CFO Carolina Dybeck Happe told investors. Read the full article ➔
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Philips beats Q4 expectations as COVID-19 boosts connected care, slows procedures
By Nick Paul Taylor • Jan. 25, 2021The Dutch conglomerate will continue to be active on the M&A front, CEO Frans van Houten told investors, after striking two deals in the space over the past month worth more than $3.4 billion. Read the full article ➔
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Intuitive braces for bumpy 2021 as COVID-19 resurgence hits robotics
By Nick Paul Taylor • Jan. 22, 2021The company, which gave details on its fourth quarter, is not giving guidance for the year amid uncertainty. Shares fell nearly 5% Friday morning. Read the full article ➔
