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AVERY DENNISON CORPORATION

(AVY)
  Report
Delayed Nyse  -  04:03:12 2023-02-06 pm EST
178.54 USD   -1.47%
10:23aBMO Capital Adjusts Price Target on Avery Dennison to $233 From $240, Maintains Outperform Rating
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02/03UBS Adjusts Avery Dennison Price Target to $195 From $194, Maintains Neutral Rating
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02/02Transcript : Avery Dennison Corporation, Q4 2022 Earnings Call, Feb 02, 2023
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AVERY DENN : Avery Dennison Medical Solutions and Proteus Biomedical Launch Partnership

06/07/2011 | 06:05am EST

Avery Dennison Medical Solutions, a division of Avery Dennison Corporation (NYSE:AVY) and a global leader in pressure-sensitive adhesive technologies for medical applications, in cooperation with Proteus Biomedical, Inc. (Proteus), a leader in intelligent medicine and mobile health products, today announced a partnership focusing on patch-based wearable sensors for consumer, home health care and remote medical applications. Financial terms were not disclosed.

Wearable Sensor for Personal Monitoring and Mobile Health  (Photo: Business Wire)

Wearable Sensor for Personal Monitoring and Mobile Health (Photo: Business Wire)

Proteus has developed a U.S. FDA 510K cleared and European Union CE Mark-certified personal monitoring device for continuous physiologic sensing and monitoring. Proteus and Avery Dennison Medical Solutions have joined forces to reduce cost, enhance wearability and commercialize this advanced platform. Proteus' personal monitoring technology incorporates multiple sensors to monitor important physiologic parameters of interest to consumers and clinicians, including heart rate, physical activity and sleep patterns. Avery Dennison Medical Solutions is providing adhesive and material technologies and developing the manufacturing platform to mass produce the wearable sensors for the companies' respective customers.

"The partnership with Proteus is a key component of our strategy to become a leader in the emerging areas of consumer and remote patient monitoring," said Howard Kelly, vice president and general manager, Avery Dennison Medical Solutions. "Proteus' personal monitoring technology, combined with our expertise in skin-friendly adhesives and advanced manufacturing capabilities, provide a platform for innovative products that can help improve people's quality of life and reduce healthcare costs."

Proteus' personal monitoring technology has been licensed non-exclusively by Avery Dennison Medical Solutions for use in health, wellness and remote medical monitoring applications. Avery Dennison Medical Solutions will develop proprietary products that incorporate the Proteus technology. Proteus continues to develop and commercialize its personal monitoring and other intelligent medicine and mobile health products in consumer, medical and pharmaceutical applications.

"Our vision for intelligent medicine is to put the consumer first in the development of desirable, comfortable and low cost sensor-enabled products," said David O'Reilly, chief product officer, Proteus Biomedical. "Avery Dennison has a long history of improving products with innovative technology and scaling production for global markets. That is exactly what the field of wearable sensing requires, and we are delighted to partner with Avery Dennison Medical Solutions to advance our shared strategy."

About Avery Dennison

Avery Dennison (NYSE:AVY) helps make brands more inspiring and the world more intelligent. For more than 75 years the company has been a global leader in pressure-sensitive technology and materials, retail branding and information solutions, and organization and identification products for offices and consumers. A FORTUNE 500 company with sales of $6.5 billion in 2010, Avery Dennison is based in Pasadena, California and has employees in over 60 countries. For more information, visit www.averydennison.com.

About Proteus Biomedical, Inc.

Proteus Biomedical is pioneering intelligent medicine, an emerging field of advanced therapeutics that integrates in-body computer, sensor and communications technologies into existing pharmaceutical, medical device and consumer products. Proteus' proprietary computing and sensing technologies enable proven therapies to be personalized, offering broad potential benefits across a range of care settings and therapeutic areas. More information about Proteus Biomedical can be found at www.proteusbiomed.com.

Photos/Multimedia Gallery Available: http://www.businesswire.com/cgi-bin/mmg.cgi?eid=6750756&lang=en.

Avery Dennison
Medical Solutions
Bob Giuliano, +1-610-328-1051
Bob.Giuliano@prplace.biz
Kate Franco, +1-312-206-1037
kate.franco@averydennison.com
or
Avery Dennison
Investor Relations
Eric M. Leeds, +1-626-304-2029
investorcom@averydennison.com
or
Proteus Biomedical, Inc.
Marnell Mullarkey, +1-650-632-4031
Mmullarkey@proteusbiomed.com


ę Business Wire 2011
All news about AVERY DENNISON CORPORATION
10:23aBMO Capital Adjusts Price Target on Avery Dennison to $233 From $240, Maintains Outperf..
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02/03UBS Adjusts Avery Dennison Price Target to $195 From $194, Maintains Neutral Rating
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02/02Avery Dennison's Q4 Adjusted Earnings, Revenue Decline
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02/02Avery Dennison Declares Quarterly Dividend
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Analyst Recommendations on AVERY DENNISON CORPORATION
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Financials (USD)
Sales 2022 9 190 M - -
Net income 2022 801 M - -
Net Debt 2022 2 803 M - -
P/E ratio 2022 18,3x
Yield 2022 1,61%
Capitalization 14 456 M 14 456 M -
EV / Sales 2022 1,88x
EV / Sales 2023 1,84x
Nbr of Employees 36 000
Free-Float 64,9%
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Mean consensus OUTPERFORM
Number of Analysts 14
Last Close Price 178,54 $
Average target price 201,17 $
Spread / Average Target 12,7%
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Managers and Directors
Mitchell R. Butier Chairman & Chief Executive Officer
Deon Stander President & Chief Operating Officer
Gregory S. Lovins Vice President and Treasurer
Nicholas R. Colisto Chief Information Officer & Senior Vice President
Julia A. Stewart Independent Director
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