Global Medical Device Companies' Latest Financial Performance and Product Portfolio Overview

Medtronic Reports Third Quarter Fiscal Year 2024 Results Ended January 26, 2024. Net sales for the quarter were $8.089 billion, compared to $7.727 billion in the same period last year, representing a flat performance year-over-year. However, after excluding the impact of foreign exchange and the contribution from the acquisition of Intersect ENT, the company achieved 4.1% organic growth. Net income attributable to the company for the quarter was $1.322 billion, compared to $1.222 billion in the same period last year. Earnings per share (EPS) were $0.92, representing a decrease of 17% and 16%, respectively.

Business Performance:

Medtronic demonstrated strong performance in its cardiovascular and neuroscience portfolios, particularly in the diabetes market outside the U.S. and in improving product availability in certain businesses. This was partially offset by the unfavorable impact of ventilator sales due to increased COVID-19-related demand in the prior year, as well as the effects of China's centralized procurement bidding and the recovery from COVID-19 on surgical volumes.

Regional Performance:U.S. revenue accounted for approximately 52% of the company's total revenue, growing by 3% during the reporting period; revenue from non-U.S. developed markets accounted for 30% of the company's total revenue, increasing by 6%; emerging markets revenue made up 18% of the company's total revenue, growing by 5%.

Johnson & Johnson Announces Q4 2023 Financial Results: Quarterly Sales Reach $21.4 Billion, Up 7.3% Year-over-Year; Net Profit Rises 28% to $4.13 Billion from $3.23 Billion in the Same Period Last Year.

Business Performance:

• Excluding the sales of COVID-19 vaccines, the pharmaceutical business sales reached 13.68 billion US dollars;

• Johnson & Johnson Medical Devices Business Sales Reach $7.67 Billion, Up 13.3% Year-over-Year

In addition, Johnson & Johnson's global sales for the full year reached $85.159 billion, representing a 6.5% increase from last year. This growth was primarily driven by operational sales growth in the innovative pharmaceuticals and medical technology sectors.

Abbott Reports Q4 2023 Earnings. Quarterly revenue increased by 1.5% year-over-year to $10.24 billion. Quarterly net profit was $1.594 billion, compared to $1.033 billion in the same period last year. The nutrition and medical device segments performed exceptionally well.

Business Performance:

• Medical Device Department Revenue was $4.44 billion, a year-on-year increase of 17.5%.

• Nutrition business revenue was $2.04 billion, a year-on-year increase of 12%.

• Diagnostic business revenue was $2.53 billion, a year-on-year decrease of 23%.

• Generic drug business sales were $1.22 billion, a year-on-year increase of 0.5%.

Danaher Reports Fourth Quarter and Full Year 2023 ResultsQ4 Sales $6.405 Billion, Compared to $7.134 Billion in the Same Period Last YearNet profit attributable to ordinary shareholders for the quarter was US$1.079 billion, compared with US$2.21 billion for the same period last year.Total sales for the year 2023 were $23.98 billion, compared to $26.643 billion in 2022.Net profit attributable to ordinary shareholders for the year was US$4.743 billion, compared with US$7.103 billion last year.

Medical device and equipment manufacturer Stryker announced its Q4 and full-year 2023 financial results.

Net sales in the fourth quarter were $5.815 billion, compared to $5.202 billion in the same period last year, representing an increase of 11.8%. Quarterly net profit was $1.143 billion, compared to $563 million in the same period last year, representing an increase of 103%.

Net sales in 2023 were $20.498 billion, compared to $18.449 billion in 2022, representing an 11.1% year-over-year increase. The full-year net profit was $3.165 billion, up 34.2% from $2.358 billion the previous year.

Business Performance:The business is divided into two major segments: Medical Surgical and Neurotechnology, Orthopedics and Spine, with both segments growing at a similar pace.

• Medical Surgery and Neurotechnology Grew 11.5% Year-Round (Medical Surgery $3.4 Billion, Neurotechnology $11.8 Billion);

• Orthopedics and spine grow 10.5% year-round (orthopedics $2.4 billion, spine $8.7 billion).

Siemens Healthineers Releases First Quarter Results for Fiscal Year 2023 Ending December 31, 2023. Quarterly revenue reached €5.176 billion (approximately $5.596 billion), compared to €5.077 billion in the same period last year. Adjusted EBIT profit for the quarter was €742 million, compared to €685 million in the prior-year quarter. Quarterly net profit was €432 million, compared to €426 million in the same period last year.

Philips Reports Fourth-Quarter Results for 2023

Philips' business is mainly divided into three parts: Diagnosis & Treatment, Connected Care, and Personal Health. Among them, the Diagnosis & Treatment business has seen the most significant growth, with annual sales reaching 8.818 billion euros, a year-on-year increase of 11%. In addition, the annual sales of Connected Care reached 5.138 billion euros, a year-on-year increase of 1%, while Personal Health’s annual sales were 3.602 billion euros, a year-on-year increase of 3%.

Fresenius Medical Care Announces Q4 and Full-Year 2023 Financial ResultsQ4 Revenue: €4.988 billion (approximately $5.39 billion), compared to €4.997 billion in the same period last year. Q4 Operating Profit: €428 million, compared to €352 million in the same period last year. Q4 Net Profit: €188 million, compared to €139 million in the same period last year.Full-Year 2023 Revenue: €19.454 billion (approximately $21 billion), compared to €19.398 billion last year. Full-Year Operating Profit: €1.369 billion, compared to €1.512 billion last year. Full-Year Net Profit: €499 million, compared to €673 million last year.

GE HealthCare Reports Q4 and Full-Year 2023 Financial Results. Total revenue for the fourth quarter was $5.206 billion, compared to $4.938 billion in the same period last year. Net income attributable to ordinary shareholders for the quarter was $403 million, compared to $554 million in the same period last year. Total revenue for 2023 was $19.552 billion, compared to $18.341 billion in 2022. Full-year net income attributable to ordinary shareholders was $1.385 billion, compared to $1.916 billion in the previous year.

Business Performance:

• Imaging Business: Imaging business revenue was $2.8 billion, a year-over-year increase of 4%.

• Ultrasound Business: Ultrasound business revenue was $9.44 billion, a year-on-year decrease of 1%.

• Patient Care Solutions: Patient Care Solutions revenue was $827 million, a year-over-year increase of 5%.

• Pharmaceutical Diagnostics Business: Revenue from the pharmaceutical diagnostics business was $5.91 billion, representing a 25% increase year-over-year.

BD Reports First Quarter Fiscal Year 2024 Results Ended December 31, 2023. Quarterly revenue was $4.706 billion, compared to $4.586 billion in the same period last year. Net income attributable to common shareholders for the quarter was $281 million, compared to $486 million in the same period last year.

Performance of the Three Major Businesses:BD Medical, BD Life Sciences, and BD Interventional are the three major business units. In the fourth quarter, BD Medical reported revenue of $2.554 billion, a year-over-year increase of 7.5%; BD Life Sciences generated revenue of $1.330 billion, up 3.3% year-over-year; and BD Interventional achieved revenue of $1.203 billion, reflecting a year-over-year growth of 9.6%.

Thermo Fisher Scientific Announces Q4 and Full-Year 2023 Financial Results. Q4 revenue was $10.886 billion, compared to $11.45 billion in the same period last year. Net income attributable to the company for the quarter was $1.63 billion, versus $1.576 billion in the prior-year period. Full-year revenue reached $42.857 billion, down from $44.915 billion the previous year. Net income attributable to the company for the full year was $5.995 billion, compared to $6.95 billion the previous year.

Business Performance:Including the fourth quarter business,

• Life Sciences Business Revenue: $24.69 Billion;

• Laboratory products and biopharmaceutical services revenue of $5.719 billion;

• Professional diagnostic business revenue of $11.05 billion;

• Analytical instrument revenue of $2.037 billion.

Roche Announces 2023 Financial Results: Full-Year Group Sales Reach CHF 58.716 Billion, Compared to CHF 63.281 Billion Last Year

Business Performance:

• Pharmaceutical business sales of 44.612 billion Swiss francs, operating profit of 17.132 billion Swiss francs.

• Diagnostic business sales reached 14.104 billion Swiss francs (approximately 16 billion US dollars), with an operating profit of 2.171 billion Swiss francs.

Net profit attributable to shareholders of the company for the whole year was 11.498 billion Swiss francs, compared with 12.421 billion Swiss francs in the same period last year.

Cardinal Health Reports Second Quarter Fiscal 2024 Results Ended December 31, 2023. Quarterly revenue was $57.445 billion, compared to $51.469 billion in the same period last year. Net income attributable to the company for the quarter was $353 million, compared to a net loss of $130 million in the same period last year.

Business Performance: Among them,Medical Business Quarterly Revenue $3.928 Billion, Compared to $3.797 Billion in the Same Period Last Year.

Baxter International Inc. announced its financial results for the fourth quarter and full year of 2023.Net sales in the fourth quarter were $3.885 billion, compared to $3.745 billion in the same period last year.Net profit attributable to shareholders of the company for the quarter was US$245 million, compared with US$181 million for the same period last year.Net sales in 2023 were $14.813 billion, compared to $14.506 billion in 2022.Net profit attributable to shareholders for the full year was US$2.665 billion, compared with a net loss of US$2.433 billion in the previous year.

Boston Scientific Reports Fourth Quarter and Full Year 2023 Results

Net sales in the fourth quarter were $3.725 billion, compared to $3.242 billion in the same period last year, representing a year-over-year increase of 14.9%.Net profit attributable to the company for the quarter was US$504 million, compared with US$126 million for the same period last year, representing a year-on-year increase of 144.5%.

Net sales in 2023 were $14.24 billion, compared to $12.682 billion in 2022, representing a year-over-year increase of 12.3%. The net profit attributable to the company for the full year was $1.57 billion, up from $642 million the previous year, marking a 300% increase.

Business Performance:Boco's business is divided into two major segments: medical surgery and cardiovascular, with both segments experiencing similar growth rates.

• Medical Surgery Achieves 10% Organic Growth for the Year, with Total Net Sales of $5.422 Billion;

• Cardiovascular Achieves 13% Organic Growth for the Year, with Total Net Sales of $8.819 Billion

Henry Schein Announces Fourth Quarter and Full Year 2023 ResultsNet sales in the fourth quarter were $3.017 billion, compared to $3.371 billion in the same period last year.Net profit attributable to the company for the quarter was US$18 million, compared to US$47 million in the same period last year.Net sales in 2023 were $12.339 billion, compared to $12.647 billion in 2022.Net profit attributable to the company for the full year was US$416 million, compared to US$538 million in the previous year.

Owens & Minor Releases Financial Results for Q4 and Full Year 2023Net revenue in the fourth quarter was US$2.656 billion, compared to US$2.551 billion in the same period last year.Net profit for the quarter was $17.78 million, compared to a net loss of $57.99 million in the same period last year.Net revenue in 2023 was $10.3 billion, compared to $9.96 billion in 2022.Net loss for the year was $41.4 million, compared to a net profit of $22.39 million in the previous year.

3M Reports Q4 2023 Earnings. Net sales for the quarter were $8.013 billion, compared to $8.079 billion in the same period last year. Net income attributable to the company for the quarter was $945 million, compared to $541 million in the same period last year.

Business Performance:

• Safety and Industrial Business Net Sales $2.661 Billion;

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  Net sales of transportation and electronics businesses amounted to 2.089 billion US dollars;

• Net sales of consumer business amounted to 1.226 billion US dollars;

• Health Care net sales were $2.037 billion, compared to $2.044 billion in the same period last year;Operating profit was US$372 million, compared to US$412 million in the same period last year.

  
  

Zimmer Biomet Holdings Inc. announced its Q4 and full-year 2023 financial results.Net sales in the fourth quarter were $1.94 billion, compared to $1.825 billion in the same period last year.Net profit attributable to the company for the quarter was US$419 million, compared with a net loss of US$131 million in the same period last year.Net sales in 2023 were $7.394 billion, compared to $6.94 billion in 2022.Net profit attributable to the company for the full year was US$1.024 billion, compared with US$231 million in the previous year.

Fujifilm Holdings announced its financial results for the first nine months (April to December) of the fiscal year ending December 31, 2023.Revenue for the period was 215.54 billion yen, compared to 209.43 billion yen in the same period last year.Operating profit for the current period was 204.9 billion yen, compared to 202.6 billion yen in the same period last year. Net profit attributable to the company for the current period was 173.8 billion yen, compared to 153.7 billion yen in the same period last year.

Business Performance:

• All business fields,Medical and health sales revenue increased by 7.6% year-on-year, reaching 690.7 billion yen (approximately 4.585 billion US dollars).

• Sales revenue of high-performance materials decreased by 3.9% year-on-year to 494.7 billion yen.

• Imaging sales revenue increased by 13.8% year-on-year, reaching 368.6 billion yen.

• Commercial innovation sales decreased by 2.1% year-on-year, reaching 601.4 billion yen.

Terumo Announces Financial Results for the First Nine Months of the Fiscal Year Ending December 31, 2023 (April to December).Revenue for the period was 683.95 billion yen (approximately 4.54 billion US dollars), compared to 617.99 billion yen in the same period last year.Operating profit for the current period was 105.5 billion yen, compared to 93.5 billion yen in the same period last year. Net profit attributable to owners of the parent company for the current period was 79.9 billion yen, compared to 70.2 billion yen in the same period last year.

Olympus (OLYMPUS) announced its financial results for the first nine months (April to December) of the fiscal year ending December 31, 2023.Revenue for the period was 675.7 billion yen (approximately 4.485 billion USD), compared to 641.5 billion yen in the same period last year.Operating profit for the period was 39 billion yen, compared to 142.6 billion yen in the same period last year. Net profit attributable to the parent company for the period was 235.2 billion yen, compared to 108.2 billion yen in the same period last year.

Canon Group Releases Q4 and Full-Year 2023 Financial Results. Q4 Net Sales Reach 1,163.7 Billion Yen, Quarterly Operating Profit at 116 Billion Yen, and Quarterly Net Profit Attributable to the Company at 80.6 Billion Yen.

Business Performance:Among them,Net sales of medical business amounted to 164.2 billion yen (approximately 1.09 billion US dollars), compared to 150.8 billion yen in the same period last year.Full-year net sales were JPY 4181 billion, compared to JPY 4031.4 billion in the previous year. Full-year operating profit was JPY 375.4 billion, compared to JPY 353.4 billion in the previous year. Full-year net profit attributable to the company was JPY 264.5 billion, compared to JPY 244 billion in the previous year. Among this, medical business net sales were JPY 553.8 billion, compared to JPY 513.3 billion in the same period last year.

EssilorLuxottica Reports Q4 and Full-Year 2023 Financial Results. Revenue for the fourth quarter reached €6.250 billion, with professional segment revenue at €2.986 billion (approximately $3.23 billion) and consumer segment revenue at €3.264 billion. Full-year revenue amounted to €25.395 billion, compared to €24.494 billion in the previous year. Annual operating profit was €3.176 billion, up from €3.157 billion the previous year. Net profit attributable to owners of the parent company for the full year was €2.289 billion, compared to €2.152 billion in the prior year. Professional segment revenue for the full year was €12.199 billion (approximately $13.2 billion), compared to €11.77 billion in the previous year. Consumer segment revenue for the full year was €13.195 billion, compared to €12.724 billion in the prior year.

Alcon Announces Q4 and Full-Year 2023 Results. Q4 net sales were $2.332 billion, compared to $2.155 billion in the same period last year. Quarterly net profit was $427 million, compared to a net loss of $97 million in the same period last year. Full-year 2023 net sales were $9.37 billion, compared to $8.654 billion in 2022. Annual profit was $974 million, compared to $335 million in the previous year.

Bausch+Lomb Reports Q4 and Full-Year 2023 Financial Results. Q4 revenue reached $1.173 billion, compared to $996 million in the same period last year. Net loss attributable to the company for the quarter was $54 million, versus a net loss of $1 million in the prior-year period. Full-year 2023 revenue was $4.146 billion, up from $3.768 billion in 2022. Net loss attributable to the company for the full year was $260 million, compared to a net profit of $6 million in the previous year.