|Bid||137.30 x 0|
|Ask||137.40 x 0|
|Day's Range||135.20 - 138.40|
|52 Week Range||74.74 - 155.40|
|Beta (3Y Monthly)||1.33|
|PE Ratio (TTM)||N/A|
|Forward Dividend & Yield||1.00 (0.75%)|
|1y Target Est||87.86|
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Troubled Swedish medical technology group Getinge reported an unexpected gain in fourth-quarter core profit on a stronger margin, and forecast an increase in sales in 2019, sending its shares soaring more than 12 percent. Adjusted profit before interest, tax and amortization was 1.41 billion crowns (118.50 million pounds) compared with 1.38 billion crowns a year ago and a Reuters poll forecast of 1.28 billion. "We see signs of margins starting to improve – the adjusted gross margin was, for the first time in 2018, sequentially higher, albeit only slightly.
Sweden's Getinge (GETIb.ST) said on Thursday it had agreed to sell its troubled surgical mesh business that saw the medical equipment maker swing to a loss in the third quarter due to provisions for lawsuits in the United States and Canada. Getinge, which makes products for surgery, intensive care and infection control, said it made an operating loss of 1.7 billion crowns ($194 million), against a year-ago 304 million profit, roughly matching analysts' expectations. Getinge said it had agreed to sell the surgical mesh unit with no material impact on its financials.
Manufacturers of surgical mesh products have faced hundreds of lawsuits in the United States in recent years. Getinge said the claims were being vigorously defended and there had been no adverse verdicts against Atrium Medical, which manufactures the implants and was acquired by Getinge in 2011. Atrium Medical is evaluating the future of the surgical mesh business, the Swedish medical technology company said.
Swedish medical technology group Getinge said on Sunday it would book a 1.8 billion crown ($200.9 million) provision related to surgical mesh product liability claims filed in the United States and Canada against its Atrium business. Manufacturers of surgical mesh products have faced hundreds of lawsuits in the United States in recent years. Getinge said the claims were being vigorously defended and there had been no adverse verdicts against Atrium Medical, which manufactures the implants and was acquired by Getinge in 2011.
GOTHENBURG, Sweden , Oct. 14, 2018 /PRNewswire/ -- Getinge makes a provision of SEK 1.8 billion for expected costs associated with Atrium Medical Corporation surgical mesh product liability claims filed ...