The 28th Annual J.P. Morgan Healthcare Conference will be held from January 11-14, 2010 at the Westin St. Francis Hotel in San Francisco. More than 300 companies, both public and private, are expected to deliver corporate presentations.
... Read on to find out about few of the companies, which are going to present at the upcoming conference.
Sirona Dental Systems Inc. (SIRO) is a manufacturer of dental equipment and technologies. The shares have had a good rally in the past one year - rising nearly three-fold to over $30. The company will make a presentation on January 12.
The company's fiscal year ends September 30. In the just concluded fiscal year of 2009, revenue fell by 5.8% to $713.3 million. Howver, on a constant currency basis, adjusting for the fluctuations in the U.S. Dollar/Euro exchange rate, total revenue for the year, represented a year-over-year increase of 1.3%. Sirona's annual net income in fiscal 2009 was $53.4 million or $0.96 per share, compared to $29.4 million or $0.53 per share in fiscal 2008. The nearly two-fold rise in net income in fiscal 2009 is credited to lower effective tax rate and lower amortization of assets acquired in past business combinations.
Through continuous innovation, the company has made major advances in dental equipment - from the first electric drill to 3D dental imaging, from the first integrated treatment center to the advent of CAD/CAM in dentistry. Sirona has four reporting segments - Dental CAD/CAM Systems, Imaging Systems, Treatment Centers and Instruments.
In fiscal 2009, the Dental CAD/CAM Systems segment contributed 35% to Sirona's revenue, Imaging Systems segment contributed 32%, Treatment Centers segment contributed 21% and the Instruments segment contributed 12%.
With dental professionals and laboratories shifting to use digital impressions for the manufacturing process, Sirona's Imaging Segment, which includes intraoral, panoramic, and 3D imaging, continues to gain share.
By February 2010, the company is set to make available the InEos Blue desktop scanner, an advanced 3D scanner that allows dental technicians to quickly, precisely and easily scan dental models.
The global dental market continues to benefit from technological innovation; a demographic shift towards an aging population that increases the need for both periodontal work and dental implants; an increased desire for aesthetics and a greater need for dental preventative care.
Analysts are bullish on Sirona's earnings prospects for the first quarter of fiscal 2010 and over the past thirty days, have pushed the consensus earnings estimate for the quarter up by 3 cents to $0.53 per share.
In fiscal 2010, the company anticipates constant currency revenue growth of 4% to 6% that equates to revenue of $741.8 million to $756.1 million. Analysts have a consensus revenue estimate of $772.22 million.
DexCom Inc. (DXCM) is a medical device company engaged in developing continuous glucose monitoring systems for use by people with diabetes and for use by healthcare providers in the hospital for the treatment of both diabetic and non-diabetic patients. The shares have gained nearly 163% in the past one year and curently trade around $8.95. DexCom will make a presentation on January 12.
The company's flagship product SEVEN PLUS, is the only Sensor FDA approved for up to a full week of wear for continuous monitoring of glucose of a patient. From inception in May 1999 through September 30, 2009, DexCom has generated $26.3 million in product revenue from the sale of its continuous glucose monitoring systems.
According to reports, there are currently over 23.6 million people in the U.S., or almost 8% of the population who have diabetes and the U.S. market for diabetes monitoring products and therapies is estimated at $23.8 billion in 2010.
DexCom is also continuing clinical development of a fourth generation ambulatory product which is expected to further improve sensor reliability, stability and accuracy over the useful life of the sensor, and suited for large scale manufacturing.
DexCom has development agreements with Insulet Corp. (PODD) and Animas, a subsidiary of Johnson & Johnson (JNJ) to integrate its technology into the insulin pump product offerings of the respective partner. The company also has a definitive collaboration agreement with Edwards Lifesciences (EW) to develop products for continuously monitoring glucose levels in hospitalized patients.
The company's fiscal year ends December 31. For the nine months ended September 30, 2009, the company lost $41.99 million or $0.96 per share, narrower than the loss of $44.41 million or $1.51 per share in the comparable period a year before. For full year 2009, whose results are expected in early March, analysts estimate a loss of $1.24 per share, narrower than the loss of $1.87 per share reported in 2008.
Teleflex Inc. (TFX) is a diversified global company with a significant presence in healthcare and niche businesses that also serve the aerospace and commercial markets. The shares, which touched a 6-year intra-day low of $37.21 on April 1, 2009, have since gained 49% and trade around $55. The company will make a presentation on January 13.
The company's fiscal year ends December 31. For the nine months ended September 27, 2009, Teleflex' net revenue was $1.37 billion, a decline of 12% from the comparable period last year. Net income, excluding charges, for the nine-month period was $105 million or $2.63 per share, up from $94 million or $2.36 per share in the same period a year before. The company has three reporting segments - Medical, Aerospace and Commercial segments.
Teleflex' medical segment got a boost in 2007 following its acquisition of Arrow International Inc., a provider of catheter-based access and therapeutic products, for critical and cardiac care, for about $2 billion in cash. The company derives about 50% of its revenue from outside the U.S. and 90% of revenues from disposable medical products.
According to the company, weak global economic conditions negatively impacted markets served by its Aerospace and Commercial segments throughout 2009, and core growth in the Medical segment was negatively impacted by distributor inventory reductions in the first quarter of 2009, lower demand for respiratory care products in North America due to a less severe flu season compared to 2008 and a decline in orthopedic devices sold to medical OEMs. However, as the economy recovers, revenue may also rebound.
For full year 2009, whose results are scheduled to be reported next month, the company anticipates revenue of about $1.9 billion, compared to $2.07 billion in 2008. Teleflex' per share earnings, excluding charges, are anticipated to range between $3.40 and $3.60, compared to $3.13 in 2008.
The company has significantly reduced its net debt and strengthened its balance sheet. Net debt, which was $2.11 billion in October 2007, was reduced to $1.09 billion by September 27, 2009.
Affymax Inc. (AFFY), a biopharmaceutical company, will make a presentation on January 13. The shares have risen 160% from its January 2009 intra-day low of $9.71 and now trade around $25.
The company has yet to market a product and currently derives revenue from milestone payments from collaborative partners and royalties. Affymax has incurred significant operating losses since inception and at September 30, 2009, had an accumulated deficit of $360.5 million.
The lead product candidate of Affymax is Hematide, which is in late-stage trials for the treatment of anemia patients with chronic renal failure. Affymax is collaborating with Japan-based Takeda Pharmaceutical Co. Ltd. on the development of Hematide.
The Hematide phase III program includes two trials in patients on dialysis - EMERALD 1 and EMERALD 2, and two trials in patients not on dialysis - PEARL 1 and PEARL 2. The topline results of the study are expected in the second quarter of 2010.
The company expects to submit an NDA for Hematide in chronic renal failure this year, if things pan out the way they are expected.
ESAs (erythropoiesis-stimulating agents) are used to manage anemia in patients with CKD (chronic kidney disease) and cancer-related anemia and represent a $12 billion market worldwide. Hematide is a novel ESA and according to Affymax, has a potential advantage of a simple dosing schedule characterized by once monthly administration and room temperature storage.
If approved, Hematide would compete with EPOGEN and Aranesp, which are both marketed by Amgen Inc. (AMGN), PROCRIT, which is marketed by Ortho Biotech Products, L.P. (a subsidiary of J&J), NeoRecormon and Mircera, which are currently marketed outside the U.S. by Roche.
In March 2009, the company raised $41.6 million in private placement through the issuance of common stock and warrants exercisable for common stock and last November, raised about $80 million in a public offering.
Affymetrix Inc. (AFFX) manufactures products for genetic research including diagnostic tools and microarray systems for genetic analysis. Since reaching an all-time intra-day low of $1.78 in March 2009, shares have rebounded and currently trade around $6.5. The company will make a presentation on January 14.
The company commenced commercial sales of the GeneChip system for research use in 1994, and currently sells its products directly to pharmaceutical, biotechnology, agrichemical, diagnostic and consumer products companies, as well as academic, government, and other non-profit research institutes. The GeneChip system is used in both gene expression analysis and genomic mutation analysis focused on understanding the relationship between genes and human health.
Affymetrix went public in June 1996 pricing its shares at $15 each. During its heydays, the biochip company traded as high as $160.
The company's fiscal year ends December 31. For the third-quarter ended September 30, 2009, the company narrowed its loss to $8.82 million or $0.13 per share from $31.82 million or $0.46 per share in the comparable quarter a year before. Affymetrix' total revenue increased to $78.19 million from $75.2 million in the year-ago quarter.
For the fourth-quarter, whose results are expected later this month, analysts estimate a loss of $0.10 per share and revenue of $82.77 million. In the year-ago quarter, the company posted a loss of $0.22 per share and revenue of $78.57 million.
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