10+ orthopedic products from AAOS 2019 you need to know

Attendees line up to register for the American Academy of Orthopaedic Surgeons annual meeting in Las Vegas this week. More than 30,000 people were expected. (Image from AAOS)

The American Academy of Orthopaedic Surgeons (AAOS) annual meeting in Las Vegas is abuzz about robotics, according to industry analysts from SVB Leerink.

While the SVB Leerink analysts termed Stryker’s  (NYSE:SYK) Mako platform “best-in-class,” it’s an expanding category. Other major orthopedics companies are using this week’s AAOS meeting to introduce new offerings or tout updates to existing ones.

Johnson & Johnson (NYSE:JNJ), for example, said it plans to debut its Orthotaxy total knee system in 2020, with spine, hip and eventually shoulder indications likely to follow. J&J bought the French robot-assisted surgery startup in 2018, and didn’t have any photos of the prototype to share. But the analysts said it attaches to the patient table and includes a saw/bone cutting capability, like Mako. Unlike Mako, it will not have haptic capability. Rather, it gets the surgeon locked into a cutting plane and preserves the surgeon’s control of the saw (side to side and front to back) on that plane.

Get the full story on our sister site, Medical Design & Outsourcing.

 

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Smith & Nephew acquires Brainlab assets, teases next-gen robotic surgical platform

Smith & Nephew

Smith & Nephew (NYSE:SNN) said yesterday that it acquired Brainlab‘s orthopedic joint reconstruction business and teased the unveiling of a next-generation surgical robotics platform for later this year.

The London-based company said that its acquisition of Brainlab’s orthopaedic joint reconstruction business included its associated salesforce, which it plans to fold into its surgical robotics division. It added that it will look to install Brainlab’s hip software onto its currently-in-development Navio 7.0 handheld surgical system, which it plans to release during the second half of this year.

Along with the acquisition, Smith & Nephew said that it inked a collaborative development deal with Brainlab to develop additional applications for its advanced automation platform.

“The near term commercial opportunities with the innovation of our robotics platform and the integration of the Brainlab hip software are very compelling. Not to mention, the strong collaboration on design and development of next generation technology that will bring our customers more differentiated advanced surgical capabilities.  We’re excited to work together with Brainlab to bring the future of the digitally integrated O.R. to life and into the hands of surgeons world-wide,” prez Skip Kiil said in a prepared statement.

In the same release, the company said that it expects to complete development of its next-generation surgical robotics platform some time later this year, with a full commercial release in 2020. It teased that the new platform will have a dramatically reduced footprint and be able to be incorporated into the company’s sports medicine tower, and that the system will be faster than its still-in-development Navio 7.0.

Smith & Nephew added that its research & development program is looking to add augmented reality, stand-alone robotic arms and machine learning to the platform, and that it plans to open a new R&D and education center focused on robotics in Pittsburgh.

“Smith & Nephew is making a long-term commitment to bring together advanced technologies in robotics, digital surgery, and machine learning as well as augmented reality to empower surgeons and improve clinical outcomes. Over time these digital surgery and robotic assets will be deployed across all surgical specialities and healthcare settings where Smith & Nephew’s operates, starting with orthopaedic reconstruction and sports medicine,” CEO Namal Nawana said in a press release.

Yesterday, Smith & Nephew said that it agreed to put $660 million on the table to acquire Osiris Therapeutics (NSDQ:OSIR) and its regenerative medicine portfolio.

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HydroCision names Tranchemontagne as CEO | Personnel Moves – March 12, 2019

HydroCision CEO Tranchemontagne

HydroCision said early this month that it tapped former Smith & Nephew (NYSE:SNN) exec Alain Tranchemontagne as its new chief executive officer.

Prior to joining Boston-based HydroCision, Tranchemontagne held a position as U.S. business commercial development senior VP at Smith & Nephew. Before joining Smith & Nephew, Tranchemontagne also held positions at Covidien in senior marketing roles in the patient care division.

We are delighted to have Alain spearhead the next growth chapter in HydroCision’s future. The board was impressed with Alain’s proven track record at major medical device companies, his leadership and market development experience, as well as his passion and energy to broaden the use of our patented, proprietary technology,” board chair John Schulte said in a press release.

“I’m incredibly honored to be joining HydroCision, and I look forward to working closely with the dedicated HydroCision employees and the Board to deliver on the enormous opportunity that lies ahead. I’m also eager to quickly accelerate HydroCision’s growth trajectory, particularly leveraging our unique and differentiated technology into new surgical applications,” Tranchemontagne said in a prepared statement.

 Senseonics taps Kaufman as chief medical officer

Senseonics (NYSE:SENS) said this month it named Dr. Francine Kaufman as its new chief medical officer, effective immediately.

Kaufman previously served as a director at the Comprehensive Childhood Diabetes Center and head of the Children’s Hospital of Los Angeles’ Center for Endocrinology, Diabetes and Metabolism, Germantown, Md.-based Senseonics said.

“We are pleased to have Fran join the executive leadership team at Senseonics. As chief medical officer, she will be instrumental in helping drive forward our innovation platform and the clinical value proposition of the Eversense system. Fran is one of the world’s leading endocrinologists and her deep understanding of the global medical, research, and clinical diabetes community coupled with her track record of applying novel technologies to advance diabetes care for patients make her ideally suited for the role. We are confident that with her leadership, we will further transform and elevate the Eversense platform and bolster our US commercialization efforts at this critical point,” prez & CEO Tim Goodnow said in a press release.

“I am very excited to join the Senseonics team, especially at this point where I feel I have an opportunity to help lay the foundation for the first long-term implantable continuous glucose monitoring system. I have spent my career exploring the treatment and management of diabetes to improve outcomes for patients. I believe in the clinical value the Eversense system provides and am eager to help patients and providers realize its benefits,” Kaufman said in a prepared statement.

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 Camber Spine Tech appoints Dickinson as sales & new biz dev VP

Camber Spine Technologies said last week that it appointed Ryan Dickinson as its new sales and new business dev VP.

Prior to joining King of Prussia, Penn.-based Camber Spine, Dickinson has held positions with Verticor Spine and Invictus Medical, which he helped found.

“After leaving corporate America in 2017 and moving to West Palm Beach I vowed never to return to it again. It only took a few interactions with the founders of Camber Spine to see that they had something truly special brewing. Once I saw the efficacy and revolutionary technology of their implants I was hooked. That coupled with the testimonials of my own doctors using their products, I wanted in, I needed to be a part of what they were doing.  There’s a sense of magic in their implants, a magic that is going to catapult them to limitless heights. I am very excited to join the Camber Spine team. I believe the potential for growth is tremendous given the smart and passionate people that I have already met in the company and a very strong brand portfolio including their two very exciting proprietary technology platforms Spira and Enza,” Dickinson said in a prepared statement.

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 Qure.ai taps former GE Health exec Singh as CCO

Qure.ai said last week that it named former GE Healthcare exec Chiranjiv Singh as its new chief commercial officer.

Prior to joining Qure.ai, Singh served in a number of marketing and sales roles with GE Healthcare including X-ray division chief marketing officer, the San Mateo, Calif.-based company said.

“Chiranjiv’s track record of delivering growth in diverse geographies combined with his recent experience of leveraging the power of artificial intelligence to deliver improved patient outcomes, is aligned to Qure.ai’s key objectives. Over the last 3 years, we have been on a mission to deploy our solutions in the emerging markets, including a strong focus on Tuberculosis, the leading infectious cause of mortality worldwide. Chiranjiv’s global experience will help us reach new markets and drive adoption globally,” co-founcer & CEO Prashant Warier said in a press release.

“I’m proud to join a team that has recently published its 5th peer reviewed journal publication in the last year, including the first AI publication in The Lancet. The data science teams from Qure.ai have also presented more than 20 scientific abstracts at leading Radiology conferences such as RSNA and ECR. While there are many companies building algorithms, the fact that we are one of the few AI healthcare companies that is backing up the technology with both academic and industry validations is proof of the quality of our solutions. I see a huge opportunity for market creation and growth by understanding clinical needs and embedding Qure.ai solutions into user workflows to deliver maximum impact. I’m excited to be part of this journey to deliver value to patients and our healthcare system,” Singh said in a prepared statement.

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 Aethlon Medical names Boswell as quality systems, regulatory affairs director

Aethlon Medical (NSDQ:AEMD) said last week that it appointed Lisa Boswell as its quality systems and regulatory affairs director.

Prior to joining San Diego-based Aethlon Medical, Boswell held positions in quality assurance and regulatory affairs at Zoll Data Systems as well as positions in quality control at GlobeImmune.

“Lisa’s leadership will be critical as we move the Hemopurifier through the next stages of development.  Given the recent designation of the Hemopurifier as a Breakthrough Device by the FDA, it is extremely important that robust Quality Systems and Manufacturing processes are in place to support ongoing development and planned clinical trials,” interim CEO Dr. Timothy Rodell said in a press release.

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Smith & Nephew puts up $660m for Osiris Therapeutics

Smith & Nephew to acquires Osiris TherapeuticsSmith & Nephew (NYSE:SNN) said today that it agreed to put $660 milli0on on the table to acquire Osiris Therapeutics (NSDQ:OSIR) and its regenerative medicine portfolio.

The British orthopedics and wound care giant said the $19-per-share deal is a 37% premium on the 90-day volume-weighted average for OSIR shares. It’s structured as a two-step tender offer, Smith & Nephew said, with Osiris chairman & co-founder Peter Friedli agreeing to commit his 30% stake. The acquisition is slated to close during the second quarter, with the 360 people employed by Osiris joining S&N, that company said.

“Greater presence in the fast-growing regenerative medicine market enhances our portfolio and will help immediately accelerate our wound management business as well as provide longer term innovations in additional channels and indications. We sought out a fast growing portfolio with strong clinical evidence addressing critical needs in the marketplace,” CEO Namal Nawana said in prepared remarks.

“I am immensely proud of the business we have built from our research into advanced regenerative technologies. Smith & Nephew is the best new owner to take these products forward, widening access to more customers and restoring quality of life for more patients,” Friedli added.

Osiris put up sales of $102 million for the nine months ended Sept. 30, 2018 and $36.5 million during last year’s third quarter. Fourth-quarter and full-year results are on tap for March 15, Smith & Nephew said.

The cash-and-debt transaction is expected to add to S&N’s adjusted earnings per share starting next year, with return on invested capital topping the cost of capital three years after closing, the company said.

OSIR shares closed up 0.9% at $18.88 each yesterday. SNN shares, which closed up 0.8% at $38.79, were up 0.7% to $39.04 apiece just before the open today.

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Smith & Nephew shares up on Q4, FY2018 results

Smith & Nephew

Shares in Smith & Nephew (NYSE:SNN) are rising today after the medical device maker posted fourth quarter and full year 2018 earnings, and guidance for the coming year, mostly in line with analyst’s expectations.

For its fourth quarter, the British medtech company reported sales growth of approximately 1.3% to $1.29 billion, just behind analyst’s expectations of $1.3 billion.

For the full year, sales grew 3% to approximately $4.9 billion, while operating and trading profit shrunk 7.6% from $934 million in 2017 to $863 million in 2018.

Earnings per share for the year also shrunk by approximately 13.4%, falling from 87.8¢ in 2017 to 76¢ in 2018.

Adjusted earnings were reported at approximately $1.01, just ahead of analysts expectations of 95¢

Underlying revenue for the year grew 2%, Smith & Nephew said, with a trading profit margin of 22.9%, which was in line with expectations.

For the upcoming year, Smith & Nephew said they expect to see revenue growth of between 2.5% and 3.5%, with trading profit margin expected to be between 22.8% and 23.2%, mostly in line with analysts expectations.

“We accelerated performance across 2018, with 3% underlying revenue growth in both the third and fourth quarters and a 7% uplift in full year trading profit. We start 2019 with a strengthened organization and a new growth-oriented operating model,” CEO Namal Nawana said in a press release.

Last month, Smith & Nephew said that it completed its $50 million acquisition of Ceterix Orthopaedics and its NovoStitch Pro meniscal repair system.

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Smith & Nephew closes Ceterix buyout

Smith & Nephew buys Ceterix OrthopaedicsSmith & Nephew (NYSE:SNN) said today that it completed its $50 million acquisition of Ceterix Orthopaedics and its NovoStitch Pro meniscal repair system.

The deal could bring in an additional $55 million, according to Smith & Nephew, based on financial performance.

The NovoStitch Pro device enables surgeons to repair arthroscopically horizontal, radial, complex, bucket handle and root tears, as well as vertical tears. Smith & Nephew noted that the device complements its own Fast-Fix 360 meniscal repair system, which is designed for vertical tears.

“NovoStitch Pro is an outstanding technology that addresses an unmet clinical need. We are delighted to add this device to our Sports Medicine portfolio and are looking forward to the opportunities that come with it,” Brad Cannon, president of Smith & Nephew’s sports medicine & ENT unit, said in prepared remarks.

“We are excited by the growth opportunities of the NovoStitch Pro at Smith & Nephew and are proud of the impact our technology has made in developing the meniscal repair market,” Ceterix founder & CMO Dr. Justin Saliman added.

Smith & Nephew first announced the deal in December last year.

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Trice Medical adds $18m extension to Series C round

Trice MedicalTrice Medical said today that it added more than $18 million to the $19 million Series C round it closed back in 2017.

Malvern, Pa.-based Trice, which makes the Mi-eye 2 and Mi-ultra orthopedic diagnostic devices, first closed its $19.3 million C round in June 2017. That tranche was led by Smith & Nephew (NYSE:SNN) and included Safeguard Scientifics (NYSE:SFE), HealthQuest Capital, BioStar Ventures and other unnamed returning investors; at that time the company reported raising a total of $40.9 million.

The $18.3 million extension announced today was led by Charter Capital Partners and the Municipal Employees’ Retirement System of Michigan, joined by returning backers Safeguard, HealthQuest Capital, BioStar and Smith & Nephew.

Trice said it plans to use the latest proceeds to expand the commercialization footprint for Mi-eye 2 and Mi-ultra devices and to accelerate its development pipeline.

“2019 is a transformational year for Trice Medical. We will expand our sales efforts worldwide, launch several new products and announce the performance of large multinational partnerships,” CEO Jeff O’Donnell Sr. said in prepared remarks. “We thank all of our investors, customers and employees for the support in this quest to continue to build the value of Trice Medical.”

“We have been tracking Trice’s progress for almost five years and are pleased to make this investment at this point in the Company’s growth. Trice has a unique value proposition in the market with its Mi-eye 2 platform and we see physicians from all over the country embracing the mi-eye as the preferred way to visualize potential orthopedic injuries in an office setting,” added Charter Capital managing partner John Kerschen.

“In an effort to address the growing need for accurate, cost-effective orthopedic diagnostic solutions, Trice developed Mi-eye, the world’s first fully disposable arthroscopy camera. Last quarter we added the Mi-ultra, a 15-MHz handheld ultrasound transducer, which works on the same simple, portable platform. There is so much more to come from Trice as we deliver future innovation to advance the field of minimally invasive orthopedics across the globe,” president & CEO Mark Foster said.

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Ex-ArthroCare CEO Baker loses appeal of 20-year sentence

Gavel, handcuffsA federal appeals court this week upheld the 20-year sentence imposed on former ArthroCare CEO Michael Baker after his second conviction in a $750 million fraud case.

Baker and ex-ArthroCare CFO Michael Gluk were first convicted in June 2014 on charges that they ran a scheme to inflate revenues by dumping inventory, first with a distributor called DiscoCare and eventually via free shipments to end-users. ArthroCare was DiscoCare’s only client until it acquired the distributor in December 2007.

After Baker was sentenced to 20 years in prison and Gluk drew a 10-year term, the U.S. Court of Appeals for the 5th Circuit overturned the convictions and ordered new trials. Gluk later pleaded guilty to a single count of conspiracy to commit wire fraud and securities fraud and testified against Baker at his former boss’s second trial.

That jury convicted Baker on 12 of 15 counts; he subsequently lostbid to toss the wire fraud charges and in November 2017 was again sentenced to 20 years plus five years of supervised release, a $1 million fine and the forfeiture of another $12.7 million. Other former ArthroCare executives, David Applegate and John Raffle, who pleaded guilty in 2013, drew sentences of five years and 6⅔ years, respectively, the DoJ said. Gluk drew 50 months in January 2018.

After the second conviction Baker again appealed to the 5th Circuit on four grounds, according to court documents, arguing that an FBI agent’s testimony amounted to improper “summary witness” testimony; that the district court should have allowed the testimony of an unindicted co-conspirator, former controller Brian Simmons, who pleaded the 5th Amendment; that the lower court’s jury instruction on wire fraud should have required prosecutors to prove the “obtain money or property” clause for that charge; and that the Texas district court should have instructed the jury on “advance knowledge” for accomplice liability.

The appeals court this time upheld Baker’s conviction, ruling Jan. 9 that the FBI agent’s was permissible and that the Texas court was right to exclude Simmons’ testimony. On the “obtain money or property” issue, the appeals court found that the district court’s instructions “allowed for a conviction if Baker intended to deceive the victims out of their money for his own financial benefit.”

“The evidence at trial showed that Baker did just that,” the appeals court found. “By inducing investments in ArthroCare, the scheme affected the victims’ property rights by wrongfully leaving them ‘without money that they otherwise would have possessed.’”

The circuit court also upheld the jury instructions on accomplice liability, finding that “the evidence at trial – including testimony from three coconspirators – provided a sufficient basis for the instruction.”

ArthroCare, which agreed in January 2014 to pay a $30 million fine and enter a deferred prosecution deal to settle its part in the fraud, was acquired for $1.7 billion by Smith & Nephew (NYSE:SNN) later that year.

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Insulet taps former Medtronic finance exec McMillan as CFO | Personnel Moves – January 8, 2019

Insulet CFO Wayde McMillan

Insulet (NSDQ:PODD) said yesterday that it tapped former Medtronic minimally invasive therapies CFO and finance VP Wayde McMillan as its new chief financial officer, replacing Michael Levitz.

The Acton, Mass.-based diabetes-focused medtech company said that McMillan will join the company in February and that Levitz will continue as an advisor for a period following the succession to ensure a smooth transition. McMillan will officially take the role of CFO on March 1.

Prior to joining Insulet, McMillan held executive roles in finance at Medtronic, having come to the company during its acquisition of Covidien in 2015. After the acquisition, McMillan helped reorganize the new acquisition into the Medtronic Group structure, the company said.

“We are excited to welcome a leader of Wayde’s caliber to Insulet as the company transitions to profitability, expands internationally, and enters its next phase of rapid growth. Wayde has significant expertise scaling large organizations and a thorough understanding of the strategies we are pursuing globally to accelerate growth and build on our strong foundation. We look forward to benefitting from Wayde’s experience as we continue to position the company for long-term success and solidify our leadership in the global management of diabetes. On behalf of the board of directors and the entire company, I want to thank Mike Levitz for his numerous contributions, as well as his support during this transition period. Over the last four years, Mike has helped develop and execute our strategic imperatives, strengthen our infrastructure and capabilities in support of future growth, and generate exceptional value for shareholders. We wish Mike all the best in his future endeavors,” prez & CEO Shacey Petrovic said in a prepared statement.

“I am honored to join the team at Insulet, a company with a strong mission dedicated to improving the lives of people impacted by diabetes. I look forward to working alongside the Insulet leadership team and contributing to the company’s initiatives to drive growth, profitability and value creation for shareholders,” McMillan said in a press release.

 Senseonics appoints Isaacson as CFO

Senseonics (NYSE:SENS) said yesterday that it named Jon Isaacson as its new chief financial officer, replacing R. Don Elsey.

Elsey will remain on with the Germanton, Md.-based company in an advisory role to support the transition and to assist in preparation of the company’s annual report filings for the previous fiscal year. Elsey is slated to stay on until his planned retirement date of February 28, or a later date if another agreement is made.

Prior to joining Senseonics, Isaacson acted as CFO of Edelman Financial Services from November 2017 to December 2018, and as managing director of private equity firm American Capital, the company said.

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 Livongo names Shapiro as CFO

Livongo said last week that it appointed board member and audit committee chair Lee Shapiro as its new chief financial officer, effective on February 1.

Shapiro currently serves as a member of the board and audit committee for Medidata Solutions and as the audit committee chair of Tivity Health, Mountain View, Calif.-based Livongo said. He also served at Allscripts Healthcare Solutions as president from 2001 to 2012, the company added.

“I couldn’t be more excited about working with Lee. His intimate knowledge of Livongo, his close working relationships with the leadership team, and his connections across the industry, including virtually every analyst in the healthcare and technology space, will allow us to rapidly accelerate our business and better serve our members and clients,” CEO Zane Burke said in a press release.

“Lee’s experience in scaling companies is a perfect fit for Livongo as the company moves to the next level. I speak for the entire team in sharing my enthusiasm in gaining Lee’s experience in building great companies for Livongo,” exec chair Glen Tullman said in prepared remarks.

“I have been impressed with what the Livongo team has accomplished in such a short time. As the company continues its rapid acceleration, my hope is to contribute in both financial and strategic ways to serve Livongo’s mission of empowering more people with chronic conditions to live better and healthier lives,” Shapiro said in a prepared statement.

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 Reva Medical lifts Elkolli to CFO

Reva Medical (ASX:RVA) said last week that it promoted Leigh Elkolli to the office of chief financial officer and corporate secretary, replacing Brandi Roberts who resigned, effective January 4.

Elkolli joined San Diego-based Reva Medical in August 2017 as finance senior director and corporate controller, the company said. Elkolli previously worked with privately held biotech company Avidity Biosciences, serving as finance director.

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 Wright Medical shuffles the exec roster

Wright Medical (NSDQ:WMGI) yesterday announced a number of internal organizational changes, including lifting current prez Kevin Cordell to the position of chief global commercial officer and exec VP and promoting senior VP and CFO Lance Berry to the newly created position of chief financial and operations officer and exec VP.

Cordell joined Wright in 2014, and has helped integrate the U.S. commercial teams of Tornier after the companies merged, Wright said. In conjunction with his promotion, current int’l prez Peter Cooke will assume the role of president of emerging markets, Australia and Japan and current upper extremities marketing VP Steve Wallace was promoted to int’l prez, the company said.

In his new role, Amsterdam-based Wright Medical said that Berry will be responsible for global finance and accounting, operations, quality, regulatory, information technology, strategy and corporate development.

“Wright Medical is quickly becoming a $1 billion high-growth medtech company that is built to win in the fast-growing Extremities and Biologics markets.  As we continue to grow and progress, there is a need to better align our team to support long-term revenue growth, profitability and day-to-day execution.  At the same time, we must stay strategically focused to maintain our technology differentiation and leadership positions.  It is with these goals in mind that I am creating two new executive vice president positions, reporting to me, to advance our global commercial focus and to further transform our global business processes. With significant opportunities ahead, these organizational changes will allow for further alignment of our cross functional organizations with a stronger and sharper focus on long-term growth and profitability, including a greater emphasis on the emerging market opportunity.  I am looking forward to working with Kevin and Lance in their new leadership roles and am confident that these appointments, along with our other organizational changes, will further bolster our ability to capitalize on the growth opportunities in front of us and accelerate our market performance,” prez & CEO Robert Palmisano said in a prepared statement.

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Analyst downgrades pressure medtech stocks

thumbs downSeveral medical device companies took hits yesterday after analysts on Wall Street downgraded their stocks, on a day when the major market indices each closed up a hair, and even medtech firms that enjoyed upgrades came under pressure.

Globus Medical (NYSE:GMED) suffered the most after Morgan Stanley analyst David Lewis cut his rating on the stock from “overweight” to “equal-weight,” sliding -8.5% to a $39.61-per-share close yesterday, compared with the prior day’s closing price.

In fact, Lewis’s downgrades led the pack in terms of impact, taking Insulet (NSDQ:PODD) and Hologic (NSDQ:HOLX) shares down some -7.4% and -6.5%, respectively. Here’s a look at some of yesterday’s downgrade action:

DOWNGRADES
Company Analyst Old rating New rating Close 1/2/19 %
Globus (GMED) Morgan Stanley Overweight Equal-Weight $39.61 -8.5%
Insulet (PODD) Morgan Stanley Hold Hold* $73.43 -7.4%
Hologic (HOLX) Morgan Stanley Equal-Weight Under-Weight $38.42 -6.5%
Abbott (ABT) Citigroup Neutral Sell $69.50 -3.9%
Medtronic (MDT) Citigroup Buy Neutral $87.92 -3.3%
Henry Schein (HSIC) Robert W. Baird Outperform Neutral $76.39 -2.7%
Smith & Nephew (SNN) JP Morgan Overweight Neutral $36.40 -2.6%
Bayer (BAYN) JP Morgan Overweight Neutral $17.40 -1.0%
*cut price target

The upgrade picture was murkier, with a trio of medical device companies taking hits despite upgrades, but three others gaining (including a bullish move from Lewis on shares of Baxter (NYSE:BAX)):

UPGRADES
Company Analyst Old rating New rating Close 1/2/2019 %
Tactile Systems (TCMD) Northland Capital Under Perform Market Perform $44.59 -2.1%
Stryker (SYK) Evercore ISI In-line Outperform $154.50 -1.4%
Zimmer Biomet (ZBH) Citigroup Neutral Buy $102.28 -1.4%
Bausch Health (BHC) Piper Jaffray Neutral Overweight $20.23 0.1%
Baxter (BAX) Morgan Stanley Under-Weight Overweight $65.30 0.8%
Citigroup Neutral Buy
Apollo Endosurgery (APEN) Northland Capital Under Perform Market Perform $3.65 5.8%

By way of comparison, the three major U.S. market indices all closed up a hair yesterday, with the Dow Jones Industrial Average closing up 0.1% at 23,346.24. The S&P 500 also closed up 0.1%, at 2,510.03, and the NASDAQ index ended at 6,665.94, up 0.5%.

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