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Medtronic said its robotic spine surgery system, Mazor X, which the company added through its purchase of Mazor Robotics, witnessed strong sales since its launch in January. Mazor X also helped the restorative therapies unit, which makes medical devices and implants to treat neurological disorders and conditions affecting the spine, beat analysts’ estimates for quarterly revenue. “Generally speaking, robotics is an important and growing field .. over time it will help Medtronic better penetrate its existing customer base and perhaps attract new ones,” said Edward Jones analyst John Boylan.
Company executives during the post-earnings conference call also highlighted the potential of its upcoming cardiac, robotic surgery and diabetes devices to power sales, “When launched, all of these new products are expected to create multiple new multibillion-dollar growth opportunities,” Chief Executive Officer Omar Ishrak said, Most of the products are expected dual black white knot cufflinks to launch in the later half of next year, The quarter was good, but investors are focusing more on the upcoming strong pipeline of products, said analyst Boylan..
The cardiac and vascular unit, which makes pace-makers, heart valves and stents, reported revenue of $2.79 billion, in line with analysts’ estimate, according to IBES data from Refinitiv. The company competes with Boston Scientific Corp and Edwards Lifesciences Corp for a bigger share of the lucrative transcatheter heart valves market. Medtronic said it expects full-year earnings to be in the range of $5.14 to $5.16 per share, up from the prior forecast of $5.10 to $5.15 per share. Analysts had expected $5.12 per share.
The company now expects 2019 organic revenue growth of 5.25 percent to 5.5 percent, but said a strong dollar would impact full-year revenue by about $425 million to $475 million, It previously forecast organic revenue growth to range between 5.0 percent and 5.5 percent, Excluding items, the company earned $1.29 per dual black white knot cufflinks share, beating expectations of $1.24, Revenue rose 2.4 percent to $7.55 billion and beat analysts’ estimate of $7.52 billion, Shares rose 1.7 percent to $93.88 in morning trading..
(Reuters) - Britain’s defense company BAE Systems on Tuesday said it had won additional funding up to $575 million from the U.S. Army to begin production of its new armored vehicles that would replace the Vietnam War-era M113 fleet of personnel carriers. The new vehicles, called the Armored Multi-Purpose Vehicle (AMPV), are ‘more survivable’ with all-terrain mobility capabilities, BAE said. Total funding for the initial production of the new vehicles, including previously awarded funds to support production planning, stands at $873 million, the defense contractor said.
LONDON (Reuters) - England’s High Court on Tuesday gave Aviva, Britain’s second largest insurer, approval to transfer around £9 billion in assets to a new Irish company just before the starting gun is fired on Brexit, The move, timed for 2259 GMT on March 29, is part dual black white knot cufflinks of a wider withdrawal of business and money by financial companies seeking to keep contracts and policies within the European Union even after Britain departs, Brexit formally takes effect at 2300 GMT on March 29, London has yet to agree a divorce settlement with the bloc but banks and insurers are shifting hundreds of billions of pounds in assets regardless of the form Brexit takes, reversing decades of European financial market integration and chipping away at the City of London’s dominance of it..
The High Court in London approved the transfer of policies after a hearing on Aviva’s application last week to move life insurance assets. It had previously secured court approval to move around £1 billion in general insurance assets. “The current state of extreme and intensifying uncertainty regarding the terms of United Kingdom’s departure from the European Union renders the need for certainty of provision all the more pressing,” Martin Moore, Aviva’s counsel, told the court.
On Friday, NatWest, part of Royal Bank of Scotland, is due to ask a court in Edinburgh to approve its application to move £6 billion in assets and £7 billion in liabilities from Britain to its Dutch hub, Aviva and NatWest are moving assets under a legal process known as Part VII transfers, taking up to 18 months and now coming to conclusion, “Insurers have set up their European insurers and have transferred or are transferring their European business,” said Ashley Prebble, dual black white knot cufflinks an insurance partner at Clifford Chance law firm..
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