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Stock Market & Financial Investment News

News Breaks
December 3, 2013
07:19 EDTEW, MDTEdwards Lifesciences price target lowered to $75 from $82 at Stifel
Stifel lowered its 2014 sales and EPS estimates for Edwards (EW) below consensus levels, citing upcoming competition in the TAVR space from Medtronic (MDT) and the launch of three competing TAVR trials . However, the firm still has a positive longer term thesis on Edwards and keeps a Buy rating on the stock.
News For EW;MDT From The Last 14 Days
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April 15, 2014
09:23 EDTEWBarclays medical supplies/devices analysts hold analyst/industry conference call
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April 14, 2014
16:24 EDTEW, MDTOn The Fly: Closing Wrap
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12:26 EDTMDT, EWOn The Fly: Midday Wrap
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12:00 EDTEWEdwards Lifesciences rises 13.7%
Edwards Lifesciences is up 13.7%, or $10.01, to $82.98
10:51 EDTMDT, EWEdwards up after court limits sale of Medtronic's CoreValve in U.S.
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10:30 EDTEWHigh option volume stocks: ZLTQ GLOG RHT SBAC EW
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10:25 EDTEWEdwards Lifesciences rises sharply following court action, upgrades
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10:02 EDTMDTOn The Fly: Analyst Downgrade Summary
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10:00 EDTEWEdwards Lifesciences rises 13.9%
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09:00 EDTMDTMedtronic falls 5.4%
Medtronic is down 5.4%, or $3.20, to $56.00
09:00 EDTEWEdwards Lifesciences rises 11.3%
Edwards Lifesciences is up 11.3%, or $8.28, to $81.25
08:59 EDTEW, MDTOn The Fly: Pre-market Movers
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08:12 EDTEWEdwards Lifesciences price target raised to $90-$91 from $82-$83 at Wells Fargo
Wells Fargo increased its price target on Edwards after a federal court granted a preliminary injunction limiting the sale of a competing product, Medtronic's (MDT) CoreValve. The firm said the injunction was a "major surprise," and estimates that the injunction could increase Edwards EPS by 15c in 2014 and 34c in 2015. Wells keeps an Outperform rating on the stock.
07:39 EDTEW, MDTEdwards Lifesciences upgraded to Buy from Fair Value at CRT Capital
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06:22 EDTEW, MDTMedtronic downgraded to Neutral from Overweight at JPMorgan
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06:21 EDTEW, MDTEdwards Lifesciences upgraded to Neutral from Underweight at JPMorgan
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April 13, 2014
15:10 EDTMDT, EWMedtronic says CoreValve ruling has no impact outside U.S.
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April 12, 2014
19:50 EDTMDT, EWEdwards says court limits sale of Medtronic CoreValve system in U.S.
Edwards Lifesciences (EW) announced that the U.S. District Court for the District of Delaware granted a preliminary injunction limiting the sale of Medtronic's (MDT) CoreValve system in the United States. The court ordered the injunction to go into effect in seven business days. The hearing related to a federal jury decision in 2010 that CoreValve willfully infringes Edwards' U.S. Andersen transcatheter aortic valve replacement patent. At the conclusion of the hearing, Chief Judge Gregory Sleet ordered Edwards and Medtronic to confer on what instances the CoreValve device could continue to be used in the treatment of U.S. patients at centers currently trained on CoreValve. There is a large body of evidence demonstrating the safety and performance of the Edwards SAPIEN valves, and the company remains committed to ensuring patients have appropriate access to transcatheter therapy. This case was initiated by Edwards in 2008. On April 1, 2010, a federal jury found Medtronic willfully infringed Edwards' U.S. Andersen patent and awarded damages. In Nov. 2012, the U.S. Court of Appeals for the Federal Circuit affirmed the jury decision; in Oct. 2013, the U.S. Supreme Court declined to hear Medtronic's appeal. The patent involved in this suit is part of the Andersen family of patents. The U.S. Andersen patent was issued in 1995. A petition has been filed with the U.S. Patent and Trademark Office to extend this patent into early 2016. In a separate case, a federal jury in January found that Medtronic CoreValve had willfully infringed Edwards' U.S. Cribier transcatheter heart valve patent, and awarded damages to Edwards in that trial.
April 10, 2014
19:10 EDTMDTMedtronic confirms FDA approval for expanded indications
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16:32 EDTMDTMedtronic gets FDA approval for revised labeling application
The U.S. FDA approved an application from Medtronic for revised labeling for two cardiac resynchronization pacemakers and eight cardiac resynchronization defibrillators, expanding the indication for use to patients with atrioventricular block and less severe heart failure. The FDA previously approved these devices for patients with more severe heart failure as evaluated by their physician using specific criteria. The new approved use includes patients with less severe heart failure, but who are already indicated to receive RV pacing. With the new indication, these patients will be eligible to receive a device that will pace both sides of their heart instead of just the right. Reference Link
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