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Stock Market & Financial Investment News

News Breaks
February 25, 2013
04:55 EDTAET, AET, AET, SGYP, SGYP, SGYP, SYK, SYK, SYK, EW, EW, EW, CCXI, CCXI, CCXI, INFI, INFI, INFI, QSII, QSII, QSII, SIAL, SIAL, SIALCitigroup to host a conference
Global Healthcare Conference is being held in New York on February 25-27.
News For EW;CCXI;INFI;QSII;SIAL;AET;SGYP;SYK From The Last 14 Days
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September 2, 2015
13:21 EDTEWHeartWare plunges after Valtech deal sparks downgrades
Shares of HeartWare (HTWR) have plunged after the company's acquisition of cardiac device maker Valtech, with multiple analysts struggling to find any particularly strong rationale for the deal. WHAT'S NEW: Raymond James' Jayson Bedford downgraded HeartWare to Market Perform from Outperform after the company announced Tuesday night that it agreed to acquire Valtech Cardio, an Israeli-based company focusing on heart valve devices. Bedford said he was "surprised" by the size of the deal, noting that the all-stock transaction is valued at roughly $430M and will see Valtech owning roughly 22% of HeartWare upon closing. The acquisition is simply not what Bedford "envisioned" for the company, said the analyst. His prior investment thesis was based upon HeartWare's potential to dominate the ventricular assist device market, an idea "validated" by St. Jude's (STJ) pending acquisition of Thoratec (THOR), said Bedford. That thesis has now been disrupted by last night's early-stage asset buy at a "steep price," raising the overall execution risk of HeartWare, the analyst tells investors. WHAT'S NOTABLE: HeartWare was also hit with a downgrade to Neutral by BTIG, with the research firm emphasizing that the transaction will bring significant dilution to the company's existing shareholders. Northland's Suraj Kalia was even more bearish this morning, saying that the acquisition "does not make sense," coming at an "astronomical" multiple for an asset with "no obvious complementarity" and different domain expertise. Valtech's Cardioband CE study involved just 45 patients and only 40% of those were followed up at twelve months, said Kalia, who contended that the study does not present an accurate picture of clinical viability. Heartware will have to invest "significantly" to get Valtech's technology through U.S. trials, said the analyst, and entering the transcatheter mitral valve repair market will also bring new competition in the form of Edwards (EW), Medtronic (MDT), Boston Scientific (BSX), St. Jude and Abbott (ABT). PRICE ACTION: Shares of HeartWare have dropped more than 19% in intraday trading to $65.98, dipping below their 52-week low in the process.
August 27, 2015
07:09 EDTSIALSigma-Aldrich signs manufacturing agreement with Public Health England
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August 26, 2015
12:02 EDTAETAetna, MemorialCare announce accountable care collaboration in California
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August 25, 2015
07:40 EDTSGYPSynergy Pharmaceuticals initiated with a Buy at BTIG
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07:32 EDTSYKStryker margins poised to increase, says Stifel
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August 24, 2015
08:29 EDTEWWilliam Blair to hold a field trip
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August 21, 2015
09:01 EDTSYKLeerink medical devices analyst holds an analyst/industry conference call
Medical Device Analyst Newitter, along with MEDACorp Specialists Dorance Dillon and Terence Farrell, discuss the Centers for Medicare & Medicaid Services' recently proposed "Comprehensive Care For Joint Replacement Payment Model" and how this model might influence ortho pricing and hospital-vendor relationships on an Analyst/Industry conference call to be held on August 24 at 1 pm.

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