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April 9, 2014
09:25 EDTELGX, ELGX, ELGX, ARTC, ARTC, ARTC, BAXS, BAXS, BAXS, NVDQ, NVDQ, NVDQ, OXFD, OXFD, OXFD, FLDM, FLDM, FLDM, Q, Q, Q, ATRC, ATRC, ATRCPiper Jaffray's medtech analysts hold an analyst/industry conference call
The MedTech Analyst Team focuses on Piper Jaffray's covered universe from the perspective of Technical Analyst Johnson ahead of 1Q14 earnings results on an Analyst/Industry conference call to be held on April 11 at 10 am.
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October 6, 2015
08:06 EDTATRCAtriCure pullback brings 'highly attractive' entry point, says Leerink
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07:57 EDTATRCAtriCure weakness a buying opportunity, says Canaccord
Canaccord sees the weakness in AtriCure following its acquisition announcement as a buying opportunity, as the firm believes the acquisition of nContact will strengthen the company's presence in the AF market, expand its ability to penetrate the large stand-alone AF opportunity and drive a higher long-term growth rate. Canaccord lowered its price target to $28 from $31 on AtriCure shares but reiterated its Buy rating on the stock.
07:23 EDTFLDMAmerican Society of Human Genetics to hold annual meeting
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October 5, 2015
16:16 EDTATRCOn The Fly: Top stock stories for Monday
The Dow began the day with a triple digit jump and continued to tack on gains from there, rising nearly 2% by the time the closing bell rang. The Nasdaq and S&P also posted significant gains in the market's broad based advance. The number of advancing stocks crushed the number of declining stocks while the up volume overwhelmed the down volume. The S&P 500 is now on a five day winning streak with earnings season set to unofficially begin on Thursday, when Alcoa (AA) releases its quarterly report after the close. ECONOMIC EVENTS: In the U.S., Markit's services PMI dropped to 55.1 in the final September print, compared to the preliminary reading of 55.6 and August's 56.1 figure. ISM's services index dropped 2.1 points to 56.9 in September, versus expectations for a more modest pullback to a reading of 57.5. COMPANY NEWS: General Electric (GE) was the best performer on the Dow, advancing $1.35, or 5.3%, to $26.82 after activist investor Nelson Peltz disclosed that his firm, Trian Fund Management, has accumulated a $2.5B stake, making it one of the company's top ten shareholders. Trian, which believes GE is "executing a bold transformation" from a broad conglomerate into an industrial company, predicted that GE stock may be worth $40-$45 per share by 2017... Shares of Twitter (TWTR) rose $1.85, or 7.03%, to $28.16 after the company appointed co-founder and interim Chief Executive Jack Dorsey as permanent CEO. Analysts welcomed the news, saying Dorsey was simply "too good to pass up" despite his concurrent role as head of payments company Square. Axiom analyst Victor Anthony upgraded the stock to Buy from Hold, though the rating change was made prior to this morning's CEO news, which had been previewed last week by Re/code, was confirmed by the company... The U.S., Japan and ten other countries came to terms on the Trans-Pacific Partnership, a trade agreement meant to open agricultural markets, tighten intellectual property rules and establish a group that will have the clout to challenge China's influence in the region. Reacting to the deal, Honeywell (HON) said trade agreements like the TPP have the potential to boost exports, support jobs, and increase access abroad, while Boeing (BA) pointed out that more than 70% of its commercial airplane revenue last year came from customers outside the U.S. MAJOR MOVERS: Among the notable gainers was Spark Therapeutics (ONCE), which surged $9.09, or 20.69%, to $53.02 after the Phase 3 trial of the company's lead gene therapy product met its primary endpoint. Also higher was SunEdison (SUNE), which gained 77c, or 9.31%, to $9.04 after announcing plans to optimize its business operations by refocusing on its core markets and simplifying its structure, among other initiatives. Among the noteworthy losers were a number of Apple (AAPL) chip suppliers, with Cirrus Logic (CRUS), Skyworks (SWKS) and Avago (AVGO) falling a respective 4.5%, 1.7%, and 2.6% after Citi analysts lowered fourth quarter iPhone sales estimates. Also lower was Valeant (VRX), which lost $18.86, or 10.34%, to $163.46 after its alleged "price hike" business strategy was highlighted in reports by the New York Times and Barron's. Additionally, AtriCure (ATRC) declined 8.8% to $20.47 after releasing preliminary third quarter results and agreeing to acquire cardiac device maker nContact. INDEXES: The Dow gained 304.06, or 1.85%, to 16,776.43, the Nasdaq advanced 73.49, or 1.56%, to 4,781.26, and the S&P 500 rose 35.69, or 1.83%, to 1,987.05.
07:26 EDTATRCAtriCure weakness would be a buying opportunity, says Canaccord
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05:48 EDTATRCAtriCure to host conference call
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October 4, 2015
18:18 EDTATRCAtriCure sees FY16 revenue up 25%, consensus $145.98M
Expects FY16 adjusted EBITDA loss to increase due to acquisition and integration costs related to nContact, with the impact slowing in 2017. The company expects to be adjusted EBITDA positive for FY18.
18:16 EDTATRCAtriCure narrows FY15 revenue to $128M-$129M, consensus $127.63M
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18:10 EDTATRCAtriCure sees Q3 revenue $31.6M, consensus $31.18M
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18:05 EDTATRCAtriCure to acquire cardiac device maker nContact
AtriCure announced that it has entered into a definitive merger agreement under which it has agreed to acquire nContact, a privately held developer of cardiac ablation solutions. The transaction consideration consists of an upfront payment of approximately 3.7M shares of AtriCure common stock, valued at $24.60 per share, and approximately $8M in cash. The transaction also includes up to $50M in additional contingent consideration based on completion of enrollment of the CONVERGE IDE trial and PMA approval. Additionally, nContact shareholders are entitled to additional sales-based contingent consideration on revenue in excess of an annual growth rate of greater than 25% through 2019. All contingent consideration can be paid in either cash or AtriCure common stock, or a combination of both. The transaction is expected to close in the next several weeks. AtriCure expects that the transaction will be accretive to its revenue growth rate going forward, and the company expects to increase sales and marketing expenditures as well as clinical trial expenditures in order to accelerate efforts in those areas. The company expects the transaction to be dilutive to EBITDA through 2017 and accretive in 2018 and beyond.
October 2, 2015
08:28 EDTFLDMFluidigm pullback seems overdone, says Cowen
After hosting investor meetings, speaking with management, and conducting channel checks, Cowen analyst Doug Schenkel said he is more comfortable with the firm's second half estimates for Fluidigm. The pullback in shares has been warranted, but a trade back to around $13 per share seems possible, the analyst tells investors in a research note. Schenkel lowered his 2016 revenue estimates and trimmed his price target to $13 from $15 but keeps an Outperform rating on Fluidigm shares.
07:51 EDTNVDQNovadaq shares at attractive levels again, says Canaccord
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October 1, 2015
07:18 EDTNVDQNovadaq, Arthrex announce co-marketing agreement for PINPOINT
Novadaq Technologies announced that it has entered into a Co-Marketing Agreement with Arthrex. The Agreement allows the two companies to combine their expertise and devices to offer a world-class endoscopic system for a wide variety of surgical specialties, including orthopaedic, general, colorectal and gynecological surgeries. NOVADAQ's "plug and play" PINPOINT upgrade kit facilitates the seamless integration of its SPY imaging technology into Arthrex's Synergy System, combining the most clinically relevant fluorescence imaging experience with the leading 4K white light endoscopic system. Both companies will continue to sell their own standalone systems in addition to the combined systems, giving end-users unparalleled choice in providing the best care for their patients. Arthrex will have the ability to include the PINPOINT upgrade kit in all new Synergy System purchases, as well as upgrade their existing installed base. NOVADAQ's sales team will continue to sell PINPOINT as a part of its fluorescence imaging ecosystem and NOVADAQ will also supply the disposable kits required to perform SPY imaging procedures directly to those Arthrex customers that have purchased PINPOINT upgrade kits.
September 30, 2015
08:03 EDTATRCAtriCure launches cryoFORM cryoablation probe
AtriCure announced the launch of the cryoFORM cryoablation probe, which offers increased probe flexibility to adapt to a variety of surgical ablation procedures. This offering adds to the cryoICE family of ablation products which are used in the cryosurgical treatment of cardiac arrhythmias. The cryoFORM probe builds off of the company's core strengths in cryoablation technology, leveraging such important features as thermal capacity to remove heat and active defrost, which allows the probe to be safely and quickly detached while maintaining the tissue's frozen state. Building upon those strengths, the new probe offers increased flexibility, allowing the surgeon to more easily manipulate and apply the device and conform to challenging anatomies.
September 29, 2015
05:59 EDTNVDQNovadaq pullback brings buying opportunity, says Piper Jaffray
After attending the company's iSPIES meeting in Las Vegas, Piper Jaffray analyst Matt O'Brien says Novadaq's business momentum "remains strong." He continues to believe that competitive concerns are overblown and thinks the company should meet or beat Q3 estimates. The analyst views the recent pullback in shares as a buying opportunity and reiterates an Overweight rating on Novadaq with a $16.50 price target.
September 28, 2015
10:00 EDTELGXOn The Fly: Analyst Upgrade Summary
Today's noteworthy upgrades include: ANI Pharmaceuticals (ANIP) upgraded on valuation at Roth Capital... AbbVie (ABBV) upgraded to Neutral from Sell at Citi... Astec (ASTE) upgraded to Accumulate from Neutral at Global Hunter... Atmel (ATML) upgraded to Strong Buy from Outperform at Raymond James... BAE Systems (BAESY) upgraded to Outperform from Market Perform at Bernstein... BG Group (BRGYY) upgraded on valuation at BMO Capital... Boston Scientific (BSX) upgraded to Buy from Hold at Needham... C.H. Robinson (CHRW) upgraded to Buy from Hold at BB&T... Citi (C) upgraded to Buy from Hold at Jefferies... Diamond Offshore (DO) upgraded to Hold from Sell at Deutsche Bank... Endologix (ELGX) upgraded to Buy from Neutral at BTIG... Infosys (INFY) upgraded to Hold from Sell at Societe Generale... J.C. Penney (JCP) upgraded on confidence in CEO, initiatives at Sterne Agee CRT... Knowles (KN) upgraded to Market Perform from Underperform at FBR Capital... Lexicon (LXRX) upgraded to Hold from Sell at Gabelli... MTN Group (MTNOY) upgraded to Buy from Hold at Deutsche Bank... Natera (NTRA) upgraded to Outperform from Neutral at Wedbush... Omnicell (OMCL) upgraded to Buy from Neutral at Sidoti... RBC Bearings (ROLL) upgraded to Buy from Accumulate at Global Hunter... Raptor Pharmaceuticals (RPTP) upgraded to Perform from Underperform at Oppenheimer... Regal Entertainment (RGC) upgraded to Buy from Neutral at B. Riley... Repsol (REPYY) upgraded on valuation at BMO Capital... Star Bulk Carriers (SBLK) upgraded to Buy from Hold at Deutsche Bank... Stoneridge (SRI) upgraded to Buy from Hold at BB&T... Transocean (RIG) upgraded to Hold from Sell at Deutsche Bank... Vertex (VRTX) upgraded to Buy from Hold at Argus... Wabash (WNC) upgraded to Buy from Accumulate at Global Hunter.
07:16 EDTQQuintiles shares likely to outperform, says Wells Fargo
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06:34 EDTELGXEndologix upgraded to Buy from Neutral at BTIG
BTIG upgraded Endologix to Buy based on U.S. physician survey combined with the recent selloff in shares. Analsyt Sean Lavin said a survey of U.S. physicians indicates Nellix adoption will be brisk and notes procedure times are decreasing with experience. Lavin sees more upside with the successful Nellix launch given the weakness year-to-date in shares. The analyst has a $16 price target on shares.
September 23, 2015
07:53 EDTATRCUBS medical supplies & devices analyst holds an analyst/industry conference call
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