Rivals Gain On J&J Device Market Share Losses -- Market Talk
DOW JONES & COMPANY, INC. 11:29 AM ET 7/19/2017
Symbol Last Price Change
JNJ 134.74 +0.28 (+0.21%)
NUVA 79.67down +0.98 (+1.25%)
KTWO 24.81down +0.07 (+0.28%)
MDT 85.54down -0.31 (-0.36%)
ISRG 957.13up +10.48 (+1.11%)
ZBH 131.74down +0.56 (+0.43%)
QUOTES AS OF 11:29:57 AM ET 07/19/2017
11:29 ET - Johnson & Johnson's(JNJ) 2Q results yesterday included medical-device sales growth largely in line with analysts' expectations, but with signs it was losing market share in some categories. For instance, JNJ said it lost share in the spinal device market, which analysts say likely helps competitors NuVasive(NUVA) and K2M Group(KTWO) . JNJ CEO Alex Gorksy said spinal products are one of the "areas where we know we still need to do better." And JNJ sales of surgery products missed expectations, which analysts say probably is positive news for Medtronic(MDT) and Intuitive Surgical(ISRG) . In contrast, JNJ may have gained share in the US hip-and-knee replacement market, possibly at the expense of Zimmer Biomet(ZBH) which is having production problem, Leerink Partners says. (peter.loftus@wsj.com; @ Loftus)
