Edwards Lifesciences price target raised to $94-$95 from $90-$91 at Wells Fargo Wells Fargo increased its price target on Edwards (EW) after the company agreed to settle its litigation with Medtronic (MDT). The firm thinks the terms of the deal were slightly more favorable to Edwards than it had anticipated. It keeps an Outperform rating on Edwards.
Medtronic to acquire Twelve for $458M In support of the company's therapy innovation strategy, Medtronic announced that it has signed a definitive agreement to acquire Twelve, a medical device company focused on the development of a transcatheter mitral valve replacement, or TMVR device. Twelve is the twelfth company spun out from the premier medical device incubator The Foundry. Medtronic has agreed to pay up to $458M for Twelve including $408M at closing and $50M on achievement of CE Marking. The cash- and debt-free transaction remains subject to customary closing conditions, and is expected to close in October 2015.