Eargo Inc., a medical device company specializing in hearing aids, reported $18.2 million in third quarter revenue, driven by sales of the company’s Neo Hifi hearing aid system and a decrease in the sales return accrual rate. Revenue was up 135% over the third quarter of 2019.
Acutus Medical Inc. posted strong results for the third quarter of 2020, despite the ongoing uncertainties of the COVID-19 pandemic. Sales for the quarter totaled $3.2 million, up 180% sequentially and 391% when compared with the same period in 2019.
Dialysis maker Outset Medical Inc. tallied $13.8 million in revenue for the third quarter of 2020, up 423% from the prior year period – in its quarter as a publicly traded company. Of that, $10.8 million was product revenue, buoyed by COVID-19 tailwinds that drove demand for Tablo portable dialysis systems.
Zimmer Biomet Holdings Inc. fell in line with other orthopedic device companies that saw better than expected results for the 2020 third quarter. The company reported total revenue of $1.93 billion, up 1.1% from the same period in 2019.
Becton, Dickinson and Co. (BD) reported good news Thursday, as it saw quarterly revenues of $4.784 billion for its fourth fiscal quarter, an increase of 4.4% over the prior-year period. Of note, the company’s life sciences segment saw worldwide revenues of $1.488 billion, representing an increase of 31.2% over the prior-year period as reported, or 31.4% on a currency-neutral basis.
Haemonetics Corp. reported sales of $209.5 million for the second quarter of fiscal year 2021, down 17.1% from the same period the prior year. Plasma sales declined 32.4% year over year to $78.4 million in the face of continuing COVID-19 impacts on blood donor activity. As Jeffries analyst Anthony Petrone observed, “Trough is rear view but plasma headwinds still elevated” through the period ended Sept. 26, “though declines were lower than expected (actual -30%; JEF -28% cc).”
Intersect ENT Inc., a sinusitis implant company, reported $22.7 million in third quarter revenue, driven largely by a rebound in procedures with its Propel implants for chronic rhinosinusitis. This figure marks a 6% decline from the $24.1 million reported in the third quarter of 2019.
Illumina Inc. crushed analysts’ estimates for the third quarter, posting revenue of $794 million vs. the Street consensus of $716 million. Driving results were sequencing consumables, which racked up $500 million in the period, with clinical sequencing hitting 96% of pre-COVID-19 levels, up from 84% in the second quarter.
Teleflex Inc. reeled in $628.3 million in revenue in the third quarter, down 3.1% from the same period last year but ahead of the Street’s estimate of $619.4 million. Earnings per share also beat consensus, at $2.46 vs. $2.24. The release of the quarterly results dovetailed with Teleflex’s reveal of a definitive agreement to acquire hemostatic products company Z-Medica LLC for up to $525 million.
