Latest news with #MedTech
Scoop
2 days ago
- Business
- Scoop
Auckland Chamber Welcomes Advanced Technology Institute In Auckland
The Auckland Business Chamber and Auckland Tech Council are welcoming today's announcement that the Government will base the New Zealand Institute for Advanced Technology in Auckland — a move that follows clear calls from the business community to supercharge the city's tech future. 'In April, we put a vision on the table for Auckland to become a serious global tech hub,' says Simon Bridges, CEO of the Auckland Business Chamber. 'We made the case — and now the Government is listening.' While the Institute will initially be incubated within the Ministry of Business, Innovation and Employment, today's announcement confirms that Auckland will be its central base. The Chamber and Tech Council had earlier identified Auckland's Newmarket innovation precinct as the natural home for cutting-edge research and commercialisation — with the scale and connectivity to anchor a nationally significant tech hub. 'Newmarket offers the full package — advanced R&D, space to scale, and commercial potential,' says Bridges. 'I certainly hope the Institute will be based at Newmarket, it is the right place for it. But regardless of the precise final location, Auckland is the right launchpad for a national push into advanced tech.' The city is uniquely positioned to connect research, business, and investment. With world-leading AI and quantum researchers already based at the University of Auckland, Auckland can serve as a critical link between academia, startups, and global partners. The Chamber's recent tech report, developed in partnership with leading businesses and institutions, laid out a clear roadmap — calling for major investment, a regulatory sandbox for MedTech, and urgent action to close the capital and skills gaps. 'Today's announcement is proof that when business leads with a clear, ambitious plan, Government can move too,' says Bridges. 'This is just the start. We now need to double down on digital skills, commercial investment, and putting our startups on the global map.' 'With the private sector already stepping up, this gives Auckland a real shot at becoming a magnet for talent, capital, and world-class innovation.' Note: A copy of the Time for Growth: The Plan Auckland Needs to Be a Global Tech Hub report is available here: Key recommendations from the report include: Levelling up the technology district opportunity – Newmarket Innovation Precinct The front door to a new Advanced Technology Public Research Organisation An Auckland Technology and Innovation Alliance Technology trade mission Develop a regional innovation strategy Tech and Innovation job development accord Build a series of regulatory sandboxes (with a focus on MedTech) Increase the diversity of funds investing in Auckland ventures Leveraging partnerships with peer tech and innovation cities for mutual gain Increasing PhD enrolment and empowering PhD students to start businesses in NZ Investing in grassroots initiatives to foster entrepreneurship in areas outside of science, starting at the high school level.
Yahoo
2 days ago
- Business
- Yahoo
Eased Tariff Impact Fails To Lift Abbott As Outlook Cut Disappoints Investors
Abbott Laboratories (NYSE:ABT) reported better-than-expected sales and profits in the second quarter, but the stock still plummeted nearly 10% after management dialed back earnings and growth projections for the rest of the year. The company reported second-quarter sales of $11.14 billion, beating the consensus of $11.07 billion. Second-quarter sales increased 7.4% on a reported basis, 6.9% on an organic basis, or 7.5% when excluding COVID-19 testing-related U.S. MedTech giant reported adjusted earnings of $1.26, beating the consensus of $1.25, and within the management guidance of $1.23-$1.27. 'Halfway through the year, we delivered high single-digit organic sales growth, double-digit EPS growth, significantly expanded our margin profiles, and continued to advance key programs through our new product pipeline,' said Robert B. Ford, chairman and chief executive officer, Abbott. 'We see this momentum carrying into 2026.' Medical Devices sales increased 13.4% on a reported basis and 12.2% on an organic basis to $5.37 billion. Sales growth in the quarter was led by double-digit growth in Diabetes Care, Heart Failure, Structural Heart, and Electrophysiology. Several products contributed to the performance, including FreeStyle Libre, Navitor, TriClip, and AVEIR. In Diabetes Care, sales of continuous glucose monitors were $1.9 billion and grew 21.4% on a reported basis and 19.6% organically. Worldwide Nutrition sales increased 2.9% (+3.4% on an organic basis) to $2.21 billion. View more earnings on ABT Growth in the quarter was led by Adult Nutrition, where global sales increased 6.1% (+6.6% on an organic basis), led by strong growth of Ensure and Glucerna. Global Diagnostics sales decreased 1% (-1.4% on an organic basis) and increased 0.8% when excluding COVID-19 testing-related sales. The year-over-year decline in COVID-19 testing-related sales and volume-based procurement programs in China impacted diagnostics sales growth. COVID-19 testing-related sales were $55 million in the quarter, compared to $102 million a year ago. Established Pharmaceuticals sales increased 6.9% (+7.7% on an organic basis) to $1.38 billion. Abbott's reported operating margin of 18.4%, with an adjusted operating margin of 22.9%, which reflects a 100 basis point increase. Guidance Abbott narrowed full-year 2025 adjusted earnings guidance from $5.05-$5.25 per share to $5.10-$5.20 per share compared to the consensus of $5.16. The company expects organic sales growth of 7.5%-8.0% compared to prior guidance of 7.5%-8.5%, or 6.0% to 7.0% when including COVID-19 testing-related sales. Abbott forecasts an adjusted operating margin of approximately 23.5% of sales, down from prior guidance of 23.5%- 24.0%. Abbott expected third-quarter 2025 adjusted earnings of $1.28-$1.32 per share, compared to the consensus of $1.34 per share. During the earnings conference call, an Abbott executive addressed the impact of tariffs, reporting that the estimated headwind has been revised down to $200 million for the year, lower than previous estimates. Price Action: ABT stock is trading lower by 8.00% to $121.21 at last check Thursday. Read Next:Photo via Shutterstock UNLOCKED: 5 NEW TRADES EVERY WEEK. Click now to get top trade ideas daily, plus unlimited access to cutting-edge tools and strategies to gain an edge in the markets. Get the latest stock analysis from Benzinga? ABBOTT LABORATORIES (ABT): Free Stock Analysis Report This article Eased Tariff Impact Fails To Lift Abbott As Outlook Cut Disappoints Investors originally appeared on © 2025 Benzinga does not provide investment advice. All rights reserved.
Yahoo
2 days ago
- Business
- Yahoo
Johnson & Johnson (JNJ) Q2 2025 Earnings Call Highlights: Strong Sales Growth Amid Challenges
Worldwide Sales: $23.7 billion, a 4.6% increase. Innovative Medicine Sales: $15.2 billion, a 3.8% increase. MedTech Sales: $8.5 billion, a 6.1% increase. Net Earnings: $5.5 billion. Diluted Earnings Per Share (EPS): $2.29, up from $1.93 a year ago. Adjusted Net Earnings: $6.7 billion. Adjusted Diluted EPS: $2.77, a 1.8% decrease from the previous year. Operational Sales Growth: 4.6% overall, 3.8% in Innovative Medicine, 6.1% in MedTech. Oncology Sales Growth: 22.3% operational growth. Cardiovascular Sales Growth: Over 22% operational growth. Free Cash Flow: Exceeded $6 billion in the first half of 2025. Cash and Marketable Securities: $19 billion. Debt: $51 billion, resulting in a net debt position of $32 billion. Effective Tax Rate: 14.7% for the quarter. Full-Year Sales Guidance Increase: Raised by $2 billion. Full-Year EPS Guidance Increase: Raised by $0.25 to a range of $10.80 to $10.90. Warning! GuruFocus has detected 8 Warning Signs with CGEAF. Release Date: July 16, 2025 For the complete transcript of the earnings call, please refer to the full earnings call transcript. Positive Points Johnson & Johnson (NYSE:JNJ) reported a strong operational sales growth of 4.6% across its business in the second quarter of 2025. The company achieved over $15 billion in quarterly sales for the first time in its Innovative Medicine segment, despite the loss of exclusivity for STELARA. MedTech division delivered 6.1% operational sales growth, with significant momentum in cardiovascular surgery. Johnson & Johnson (NYSE:JNJ) raised its full-year sales guidance by $2 billion and EPS guidance by $0.25. The company is making significant progress in oncology, with a 22.3% operational sales growth and a bold vision to become the number one oncology company by 2030. Negative Points The loss of exclusivity for STELARA posed a significant headwind, impacting sales by approximately 710 basis points. Adjusted net earnings for the quarter decreased by 2.1% compared to the second quarter of 2024. The orthopedics business declined by 1.6%, driven by competitive pressures and transformation programs. MedTech margin declined from 25.7% to 22.2% due to macroeconomic factors and cost of products sold. Interest income and expense shifted to a net expense of $48 million from $125 million of income in the second quarter of 2024, primarily due to lower interest rates and higher debt from acquisitions. Q & A Highlights Q: J&J reported strong top-line growth despite the STELARA loss of exclusivity. What are the main drivers of this growth, and how do the Innovative Medicine and MedTech segments contribute? A: Joseph Wolk, CFO, highlighted that both segments contributed significantly to the strong performance. Jennifer Taubert, EVP of Innovative Medicine, noted that the business achieved its first $15 billion quarter, with 13 brands growing double digits. Tim Schmid, EVP of MedTech, mentioned cardiovascular growth of 22% and strong performance in vision and surgery as key contributors. Q: Can you elaborate on the oncology target of $50 billion by the end of the decade? What are the key growth areas? A: Jennifer Taubert, EVP of Innovative Medicine, expressed confidence in the $50 billion target, citing strong growth in multiple myeloma with DARZALEX and CARVYKTI, and the potential of TAR-200 in bladder cancer. John Reed, EVP of R&D, added that the oncology pipeline has strong momentum, with promising developments in colorectal and head and neck cancers. Q: The guidance implies an acceleration in top-line growth in the second half of the year. Can you comment on the potential for growth in 2026 and beyond? A: Joseph Wolk, CFO, indicated that 2026 is expected to see better growth than 2025, driven by new product introductions and in-line brands receiving new indications. He also mentioned that margin improvement will be assessed as the year progresses. Q: How is J&J preparing for the potential impact of pharma tariffs, and what is the flexibility of your manufacturing supply chain in the US? A: Joaquin Duato, CEO, stated that J&J is committed to manufacturing in the US and has a plan to invest $55 billion over the next four years to ensure that all medicines consumed in the US are manufactured domestically. Q: Can you provide an update on the OTTAVA Robotic Surgical System and the electrophysiology (EP) strategy? A: Tim Schmid, EVP of MedTech, confirmed that OTTAVA is on track with its milestones, with a de novo submission expected in the first quarter of next year. He also highlighted the strong performance in EP, driven by the adoption of VARIPULSE and the strategic differentiation of the Cardio systems. For the complete transcript of the earnings call, please refer to the full earnings call transcript. This article first appeared on GuruFocus. Sign in to access your portfolio
The Star
3 days ago
- Business
- The Star
U.S. stocks close higher after Trump denies plans to fire Fed chair
NEW YORK, July 16 (Xinhua) -- U.S. stocks ended higher on Wednesday after U.S. President Donald Trump tempered speculation about potential changes at the Federal Reserve. The Dow Jones Industrial Average rose 231.49 points, or 0.53 percent, to 44,254.78. The S&P 500 gained 19.94 points, or 0.32 percent, to 6,263.70, while the Nasdaq Composite added 52.69 points, or 0.25 percent, to close at 20,730.49. Eight of the 11 primary S&P 500 sectors advanced. Health care led the gains, up 1.22 percent, followed by real estate, which added 1.07 percent. On the other end, energy and communication services were the biggest laggards, falling 0.84 percent and 0.15 percent, respectively. Markets briefly slipped earlier in the session following a Bloomberg report citing a White House official saying Trump was considering firing Federal Reserve Chair Jerome Powell. However, in later comments from the Oval Office, Trump stated he was "not planning" to dismiss Powell, despite continuing criticism of the Fed for not cutting rates more aggressively. "No, we're not planning on doing anything," he told reporters, but added, "We're very concerned." Adding to investor sentiment was a cooler-than-expected inflation report. The U.S. producer price index (PPI) for June came in flat on a monthly basis and increased 2.3 percent from a year earlier, both below economists' forecasts. On the earnings front, results were mixed among major financial firms. Bank of America dipped 0.26 percent after it posted mixed results for the second quarter, beating estimates on earnings and missing on revenue. Morgan Stanley declined 1.27 percent following its second-quarter results, while Goldman Sachs rose 0.9 percent as its trading operations generated 840 million U.S. dollars more in revenue than analysts had expected. "The economy and markets are generally responding positively to the evolving policy environment," Goldman Chief Executive Officer David Solomon said. "But as developments rarely unfold in a straight line, we remain very focused on risk management." Johnson & Johnson surged 6.19 percent after posting better-than-expected earnings and raising its full-year guidance, making it the top performer on the Dow. "During our first-quarter conference call, we anticipated an impact from tariffs in 2025 to be approximately 400 million U.S. dollars based on the current tariff landscape," said Johnson & Johnson Chief Financial Officer Joe Wolk, according to a FactSet transcript. "We now anticipate the impact to be approximately 200 million dollars exclusively related to our MedTech business." Major technology stocks saw mixed action. Tesla rose 3.5 percent, continuing its recent streak of volatility. Nvidia, Apple and Alphabet posted small gains. Amazon fell 1.4 percent, while Meta Platforms dropped about 1 percent. Microsoft and Broadcom were little changed.
Yahoo
3 days ago
- Business
- Yahoo
ANGO Stock Down Despite Q4 Earnings Beat, Gross Margin Declines
AngioDynamics, Inc. ANGO reported an adjusted loss per share of 3 cents for fourth-quarter fiscal 2025, narrower than the year-ago quarter's adjusted loss per share of 6 cents and the Zacks Consensus Estimate of a loss of 13 cents. On a pro-forma basis (excluding the divested Dialysis and BioSentry businesses, the divested PICC and Midline product portfolios and the discontinued Radiofrequency and Syntrax products), adjusted loss per share for fourth-quarter fiscal 2025 was also 3 cents, narrower than 5 cents reported in the year-ago quarter. (Find the latest EPS estimates and surprises on Zacks Earnings Calendar.) GAAP loss per share was 15 cents, narrower than the year-ago period's 33 cents. On a pro-forma basis, the fiscal fourth-quarter GAAP loss per share was also 15 cents, narrower than 33 cents a year ago. Full-year fiscal 2025 adjusted loss per share was 15 cents, narrower than the 38 cents at the end of the comparable fiscal 2024 period and the Zacks Consensus Estimate of a loss of 29 cents per share. On a pro-forma basis, the full-year fiscal 2025 adjusted loss per share was 25 cents, narrower than 45 cents at the end of the comparable fiscal 2024 period. ANGO's Revenue Details Revenues in the fiscal fourth quarter totaled $80.2 million, up 12.9% year over year both on a reported basis and at a constant exchange rate (CER). The top line outpaced the Zacks Consensus Estimate by 7.5%. On a pro forma basis, net sales were $80.2 million, up 12.7% both on a reported basis and at CER from the prior-year quarter. The company continued to see strong contributions from its Med Tech (which includes the Auryon peripheral atherectomy platform, the thrombus management platform and the NanoKnife irreversible electroporation platform) and Med Device businesses during the quarter. Full-year fiscal 2025 revenues were $292.5 million, reflecting a 3.8% decline both on a reported basis and at CER from the comparable fiscal 2024 period. The figure topped the Zacks Consensus Estimate by 1.9%. On a pro forma basis, full-year fiscal 2025 revenues were $292.7 million, reflecting an 8.1% uptick on a reported basis and 8.2% at CER from the comparable fiscal 2024 period. Shares of this company lost nearly 10.2% at the end of yesterday's trading. AngioDynamics' Geographical Analysis In the quarter under review, U.S. net revenues totaled $67.5 million, up 11.1% year over year. This figure compares to our U.S. net revenues' fiscal fourth-quarter projection of $64.1 million. On a pro forma basis, U.S. net revenues also totaled $67.5 million, up 11% year over year. International revenues came in at $12.7 million, up 23.8% from the year-ago quarter, both on a reported basis and at CER. This figure compares to our fiscal fourth-quarter International revenues' projection of $10.2 million. On a pro forma basis, International revenues totaled $12.7 million, up 22.8% year over year. ANGO's Segmental Analysis AngioDynamics derives revenues from two businesses — Med Tech and Med Device. The Med Tech business' net sales in the fiscal fourth quarter were $35.8 million, reflecting an uptick of 22% year over year. This figure compares to our fiscal fourth-quarter Med Tech business' net sales projection of $30.3 million. On a pro forma basis, Med Tech revenues also totaled $35.8 million, up 22% year over year. This figure compares to our fiscal fourth-quarter Med Tech business' net sales projection of $30.3 million. The rise was primarily on the back of increased net sales of Auryon amounting to $15.6 million (up 19.7% year over year), Mechanical Thrombectomy revenues (which includes AngioVac and AlphaVac) of $11.3 million (up 44.7% year over year) and NanoKnife disposable sales of $5.7 million (up 5.5% year over year). In the quarter, AngioVac revenues were $8.2 million (up 39.5% year over year) and AlphaVac revenues were $3.1 million (up 60.8% year over year). Total NanoKnife revenues were $7.2 million, down 2.5% year over year. NanoKnife prostate procedures in the quarter were 81% of all NanoKnife procedures. Med Device revenues in the fiscal fourth quarter grossed $44.4 million, up 6.5% from the year-ago period. This figure compares to our fiscal fourth-quarter Med Device business' net sales projection of $44.1 million. On a pro forma basis, Med Device revenues totaled $44.4 million, up 6.2% from the year-ago period. This figure compares to our fiscal fourth-quarter Med Device business' net sales projection of $44.1 million. AngioDynamics, Inc. Price, Consensus and EPS Surprise AngioDynamics, Inc. price-consensus-eps-surprise-chart | AngioDynamics, Inc. Quote AngioDynamics' Margin Analysis In the quarter under review, AngioDynamics' pro forma gross profit rose 9.4% to $42.2 million. However, the pro forma gross margin contracted 161 basis points to 52.7%. We had projected a pro forma gross margin of 52.3% for fourth-quarter fiscal 2025. Sales and marketing expenses on a pro forma basis increased 7.6% to $26.4 million year over year. Research and development expenses on a pro forma basis decreased 1.9% year over year to $6.6 million, whereas general and administrative expenses on a pro forma basis decreased 1.9% to $10.2 million. On a pro forma basis, adjusted operating expenses of $43.3 million increased 3.7% year over year. The adjusted operating loss on a pro forma basis totaled $1 million compared with the prior-year quarter's loss of $3.1 million. ANGO's Cash Position AngioDynamics exited fiscal 2025 with cash and cash equivalents of $55.9 million compared with $76.1 million at the fiscal 2024-end. The company ended the quarter with no debt on its balance sheet. Cumulative net cash used in operating activities was $10.1 million compared with $28.2 million a year ago. AngioDynamics' FY26 Guidance AngioDynamics has initiated its guidance for fiscal 2026. The company expects its net sales to be in the range of $305 million-$310 million, representing growth of 4-6% from the comparable fiscal 2025 period. The Zacks Consensus Estimate is currently pegged at $308.9 million. AngioDynamics expects its Med Tech revenue growth to be in the range of 12-15%, while Med Device revenue growth is projected to be flat over the comparable fiscal 2025 period. Management expects the tariffs to have a limited impact on its overall top line and segmental performance. The adjusted loss per share is projected to be between 35 cents and 25 cents, including the tariff impacts. Excluding the impacts, the adjusted loss per share is projected to be between 30 cents and 25 cents. The Zacks Consensus Estimate is currently pegged at a loss of 24 cents per share. Our Take on ANGO AngioDynamics exited the fourth quarter of fiscal 2025 with dismal bottom-line results. It registered a loss per share both on a reported and pro-forma basis in the quarter, which is disappointing. The pro-forma gross margin contraction does not bode well. However, AngioDynamics' narrower-than-expected adjusted loss per share and better-than-expected revenues in the fiscal fourth quarter raise optimism. The company recorded a narrower adjusted loss per share both on a reported and pro-forma basis in the quarter, which is encouraging. The uptick in overall revenues and geographical revenues, both on a reported basis and at CER, looked promising. The robust performance of both segments was also impressive. Robust Auryon, AngioVac, AlphaVac and NanoKnife disposable sales were also recorded during the quarter. During the quarter, AngioDynamics received a CPT Category I Code for Irreversible Electroporation (IRE) for the treatment of lesions in the pancreas, effective Jan. 1, 2027. This expands the reimbursement pathway for NanoKnife in additional disease states, following the previously disclosed CPT Category I Code for IRE for the treatment of prostate cancer. This raises optimism about the stock. AngioDynamics' Zacks Rank & Key Picks ANGO currently carries a Zacks Rank #3 (Hold). Some better-ranked stocks from the broader medical space that are expected to report earnings soon are Boston Scientific Corporation BSX, Cardinal Health, Inc. CAH and Cencora, Inc. COR. The Zacks Consensus Estimate for Boston Scientific's second-quarter 2025 adjusted earnings per share (EPS) is currently pegged at 72 cents. The consensus estimate for revenues is pegged at $4.89 billion. BSX currently carries a Zacks Rank #2 (Buy). You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here. Boston Scientific has an estimated long-term growth rate of 13.2%. BSX's earnings yield of 2.8% compares favorably with the industry's 1.1%. Cardinal Health currently has a Zacks Rank #2. The Zacks Consensus Estimate for its fourth-quarter fiscal 2025 adjusted EPS is currently pegged at $2.03. The same for revenues is pegged at $60.67 billion. Cardinal Health has an estimated long-term growth rate of 10.9%. CAH's earnings yield of 5.7% compares favorably with the industry's 5.5%. Cencora currently carries a Zacks Rank #2. The Zacks Consensus Estimate for its third-quarter fiscal 2025 adjusted EPS is currently pegged at $3.78. The same for its revenues is pegged at $80.33 billion. Cencora has an estimated long-term growth rate of 12.8%. COR's earnings yield of 5.4% compares favorably with the industry's 4.1%. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Boston Scientific Corporation (BSX) : Free Stock Analysis Report AngioDynamics, Inc. (ANGO) : Free Stock Analysis Report Cardinal Health, Inc. (CAH) : Free Stock Analysis Report Cencora, Inc. (COR) : Free Stock Analysis Report This article originally published on Zacks Investment Research ( Zacks Investment Research Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
