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BUZZ-Evercore ISI says J&J loses market share in certain medtech segments

ReutersJan 22, 2025 3:32 PM

** Brokerage Evercore ISI says Johnson & Johnson's JNJ.N Q4 medtech revenue was generally in line with estimates "with strength in vision/hips offset by softer electrophysiology and advanced surgery"

** J&J reports medtech Q4 revenue of $8.19 bln vs analysts' estimates of $8.22 bln

** Brokerage says co's Q4 U.S. organic revenue growth of 2.1% in its electrophysiology (EP) segment is "soft", says share losses to Boston Scientific BSX.N and Medtronic MDT.N from their ongoing PFA launches "will be a focus"

** A pulsed field ablation system (PFA) is a type of heart device to treat certain abnormal heart rhythm conditions

** Medical device maker Abbott ABT.N also reported Q4 organic sales growth of 8.8% in its EP segment, which Evercore says "seems to be holding slightly better" than J&J

** Brokerage adds J&J's soft growth in its spine segment bodes well for other device makers Stryker SYK.N, Zimmer Biomet ZBH.N, Enovis ENOV.N and Medtronic

** J&J fell 7.7% in 2024

(Reporting by Sneha S K)

((Sneha.SK@thomsonreuters.com;))

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