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Saturday, May 28, 2022

4 OC Medical Device Makers Say Q1 Results Top Estimates

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Four prominent medical device makers headquartered in Orange County this afternoon reported first-quarter sales that topped analysts’ expectations.

Brea-based Envista Corp. (NYSE: NVST) said first-quarter sales climbed 3.1% to $631.4 million and its profit was 47 cents a share. Analysts on average expected $628.4 million and a 43-cent profit per share. Shares of the dental equipment supplier rose 7.7% in after-hours trading.

Lake Forest-based Staar Surgical (Nasdaq: STAA) reported a 19-cent profit per share on sales of $63.3 million, better than the analysts’ estimates for an 8-cent profit per share on sales of $60.5 million. Shares of the maker of implantable lenses climbed 6.5% to $68.

Glaukos Corp. (NYSE: GKOS) reported a loss of 36 cents a share on sales of $67.7 million, topping the expectation for a 50-cent loss per share on $60.9 million. Shares of the San Clemente-based maker of products to treat glaucoma rose 2.1% to $48.50 in after-hours trading.

Inari Medical Inc. (Nasdaq: NARI) reported $86.8 million in sales and a loss of 6 cents a share, topping the $83.6 million and 9-cent loss a share expected by analysts. Shares of the Irvine-based maker of products to treat vein clots fell less than 1% after the results were announced.


Peter J. Brennan
Peter J. Brennan
Peter J. Brennan has been a journalist for 40 years. He spent a decade in Latin America covering wars, narcotic traffickers, earthquakes, and business. His resume includes 15 years at Bloomberg News where his headlines and articles sometimes moved the market caps of companies he covered by hundreds of millions of dollars. His articles have been published worldwide, including the New York Times and the Washington Post; he's appeared on CNN, CBC, BBC, and Bloomberg TV. He was awarded a Kiplinger Fellowship at The Ohio State University.

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