Shares of Intuitive Surgical (
ISRG) - Get Report were higher on Wednesday after the medical-equipment company s first-quarter results topped estimates and analysts at Piper Sandler increased their price target.
Analyst Adam Maeder affirmed a neutral rating on the Sunnyvale, Calif., company while lifting the investment firm s price target to $840 a share from $735. Despite some lingering COVID-19 impact in the quarter, the company posted healthy
mid-teens procedure growth and a better-than-expected quarter from a robot placement
perspective driven in part by more operating leases, Maeder said.
Intuitive s earnings of $3.52 a share topped Wall Street expectations of $2.64 a share in a FactSet survey. First-quarter revenue of $1.29 billion rose 18% and beat analyst expectations of $1.11 billion.
Edward Lifesciences (
EW) - Get Report shares hit an all-time high Wednesday after the medical devices maker posted Street-beating first quarter earnings as post-COVID procedures gathered past in the waning months of the pandemic.
The Irvine, California-based group generated revenues of $1.22 billion over the first three months of the year, with a bottom life of 54 cents per share, thanks in part to nearly $800 million in sales from its transcatheter aortic valve replacement, or TAVR, unit, which it expects to grow by as much as 20% this year.
TAVR is a minimally invasive heart procedure that is used to repair narrow aortic valves in patients that are often at high risk from complications linked to open-heart surgery.
Haemonetics Slumps as CSL Plasma Declines to Renew a Supply Pact
About 12% of Haemonetics 2020 revenue came from a contract with CSL Plasma. CSL declined to renew the accord.
Author:
Shares of Haemonetics Corp. (
HAE) - Get Report dropped Monday after the medical device maker said CSL Plasma declined to renew an agreement to use one of its products in the U.S.
CSL Plasma is the Boca Raton, Fla., network of centers that pay donors for plasma donations. It s a unit of CSL Ltd., CMXHF the Melbourne, Australia, biotech company.
Once the current agreement expires in June 2022, CSL will no longer use the Haeomonetics PCS2 Plasma Collection System devices and will no longer purchase disposable plasmapheresis kits in the U.S.
15 Best Stocks in the Past Week: Vaccine Stocks Surge Higher
The best-performing stocks in the past week include Novavax, BioNTech, Moderna, Nuance, Nvidia, Wells Fargo, Tesla, Dell, and more.
Author:
Apr 18, 2021 9:31 AM EDT
Stocks rose Friday as soaring growth in China provided investors with further reasons to believe in a surging post-pandemic recovery.
The Dow Jones Industrial Average jumped 116 points, or 0.34%, to 34,152, and the S&P 500 gained 0.24%. The Nasdaq declined 0.05%. The Dow and S&P 500 set intraday all-time highs on Friday.
Bitcoin fell Friday after Turkey s central bank issued a ban against the use of cryptocurrencies for payments in the country starting from the end of the month.