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$MMSI signed purchase agreement with $BDX for divestment assets in connection with its proposed acquisition of $BCR. $MMSI expects the acquisition to provide incremental annual revenues of $42-48MM, and adjusted gross margins for the subject product lines of 60-70%. $MMSI expects deal to provide $0.10-0.19 in adjusted EPS accretion in FY18.
Surgical equipment manufacturer $SYK slipped into loss during 4Q17, following the passage of the new tax legislation. Net loss during the quarter was $249MM, or $0.66 per share, compared to earnings of $510MM, or $1.34 per share in the prior year period. Adj. EPS rose 10.1% to $1.96. Net sales, however rose 10.0% YoY to $3.5Bil in 4Q17.
$ABT stated that it expects rapid diagnostics to contribute sales of more than $2Bil for FY18. Additionally, for 1Q18, the company also expects rapid diagnostics to contribute sales of more than $5MM. At current rates, $ABT expects exchange to have a positive impact of about 3.5% on the first quarter reported sales.
$ABT stated that it expects rapid diagnostics to contribute sales of a little more than $2Bil for FY18. Additionally, the company also expects rapid diagnostics to contribute sales of more than $5MM in 1Q18. At current rates, $ABT expects exchange to have a positive impact of about 3.5% on the first quarter reported sales.
$ABT expects GAAP EPS for FY18 to be in the range of $1.22-1.32, while adjusted diluted EPS is expected in the range of $2.80-2.90. For 1Q18, $ABT expects EPS to be $0.16-$0.18, while adjusted EPS is expected in the range of $0.57-0.59. In Jan. 2018, Abbott repaid $4.0Bil of debt and expects additional debt repayments throughout 2018.
$ABT plunged to loss in 4Q17, hurt by the net expense of $1.46Bil for the estimated impact of the U.S. tax reform. Net loss was $828MM or $0.48 per share vs. a profit of $798MM a year ago. Medical devices business more than doubled its revenue, helping the company report a sales growth of 42.3% to $7.58Bil. Excluding items, $ABT earned $0.74.
Hurt by one-time charges related to the US tax reform, $RMD reported 88% decline in 2Q18 earnings to $9.5MM, or 7 cents per share. Excluding these charges, net income rose 37% to $1 during the quarter. Meanwhile, revenue jumped 13% to $601.3MM.
Kite, a $GILD company, has entered into a clinical trial collaboration with Pfizer, Inc. to evaluate the safety and efficacy of the combination of Yescarta and Pfizer's utomilumab, in patients with refractory large B-cell lymphoma. A multi-center Phase 1/2 study sponsored by Kite is expected to begin in 2018.
For 2018, health insurance provider UnitedHealth expects its profits between $16.7-17.3Bil. $UNH expects its premium revenues to reduce $400-500MM due to regulatory changes in Affordable Care Act. The company also plans to invest $200-300MM this year in artificial intelligence, data analytics etc. which would improve its engagement with customers.
UnitedHealth's 2017 medical care ratio increased 90 basis points to 82.1% vs. last year. Medical care ratio shows how much money is spent on healthcare from the premiums received by the health insurer. $UNH expects its 2018 medical care ratio to come around 81.5% plus or minus 50 basis points.
UnitedHealth's 4Q profits spiked to $3.62Bil whereas revenue was up 9% to $52.06Bil. $UNH's Health Insurance segment brings in more revenues, but Optum segment contributed more to its profits. Optum's profits were up 22% reaching $2.2Bil in 4Q. For 2017, the company reported a non-cash tax benefit of $1.22 per share due to tax reforms.
Largest US health insurer UnitedHealth's profits more than doubled in the fourth quarter to $3.61Bil due to tax benefits. $UNH also crossed $200Bil mark in revenues for FY17. The company now expects to save $1.7Bil in FY18 due to tax reforms. For 2018, the health insurer expects GAAP EPS between $11.65-11.95 and non-GAAP EPS between $12.30-12.60.
Healthcare company $HUM has appointed Luis Torres Olivera as President, Health and Well-being, for the Puerto Rico Market. Torres Olivera, who joined the company more than a decade ago, has overseen several key projects. He succeeds Earl Harper, who will be retiring at the end of February 2018.
$MDT received FDA clearance of the Riptide Aspiration System, adding a valuable tool to the Acute Ischemic Stroke (AIS) product portfolio. This is designed to retrieve thrombus (or blood clot) through the Arc Catheter and restore blood flow in patients experiencing blockage of an artery in the brain, known as an ischemic stroke.