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March 11, 2014
07:41 EDTOSIR, SMA, CNMD, GMED, BONE, NUVA, MDXG, AXGN, BAXS, SNN, RTIX, ANIKCanaccord to hold a conference
Musculoskeletal Conference is being held in New Orleans, Louisiana on March 11.
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October 12, 2015
08:02 EDTANIKAnika Therapeutics initiated with an Outperform at Barrington
Target $39.
07:28 EDTCNMDCONMED upgraded to Buy from Neutral at Ladenburg
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07:01 EDTNUVANuVasive receives FDA clearance for X-Core Mini Cervical Corpectomy System
NuVasive announced today the first ever FDA 510(k) clearance of a cervical corpectomy cage. The X-Core Mini Cervical Corpectomy System is an expandable titanium vertebral body replacement device designed to provide enhanced stability following a corpectomy procedure. This first-of-its kind clearance further showcases NuVasive's commitment to investing in innovative technology and clinical research to improve patient outcomes. The NuVasive X-Core Mini Cervical Expandable VBR System is a vertebral body replacement device indicated for use in the cervical spine in skeletally mature patients to replace a diseased or damaged vertebral body caused by tumor, fracture or osteomyelitis, in addition to the reconstruction following a corpectomy performed to achieve decompression of the spinal cord and neural tissues in cervical degenerative disorders. X-Core Mini VBR is intended to be used with supplemental fixation cleared by the FDA for use in the cervical spine. These implants are intended for use with autograft or allogenic bone graft comprised of cancellous and/or corticocancellous bone graft, as an adjunct to fusion. It is also intended to restore the integrity of the spinal column even in the absence of fusion for a limited time period in patients with advanced stage tumors involving the cervical spine in whom life expectancy is of insufficient duration to permit achievement of fusion, with bone graft used at the surgeon's discretion.
October 9, 2015
20:24 EDTGMEDGlobus Medical management to meet with Leerink
Meeting to be held in Chicago on October 15 hosted by Leerink.
19:00 EDTMDXGMiMedx to host analyst meeting
Analyst meeting to be held in New York at 10 am on October 13. Webcast Link
11:25 EDTNUVASpinal device makers slump after LDR revenue warning
Shares of LDR Holding (LDRH) plunged in morning trading after the medical device company reported lower than expected preliminary revenue for the third quarter. Notably, however, LDR reaffirmed its anticipated revenue growth for fiscal 2015. WHAT'S NEW: After the market close yesterday, LDR said it expects to report Q3 revenue of roughly $39.3M, which would fall short of the consensus estimate of $40.2M. The company also backed its expected revenue growth guidance for FY15 of 19%-20%, implying revenues of $168.1M-$169.5M, excluding the impact of foreign exchange, which the company sees having a negative impact of 4%-5%. Analysts currently expect FY15 revenue of $164.3M. LDR Holding is scheduled to report complete Q3 earnings after the market close on Wednesday, November 4. WHAT'S NOTABLE: Christophe Lavigne, president and chief executive officer of LDR, said that seasonality was "more pronounced" in Q3 than in the prior year, and that any seasonality impact in 3Q14 was "muted" since it was the first full year of the company's commercial launch of Mobi-C in the U.S. STREET RESEARCH: Commenting on the company's preliminary Q3 revenue report, Northland analyst Mark Landy said that LDR is not a proxy for the broader spine market and that the "vast majority" of the firm's revenues are from niche products. The analyst said that LDR's news should not be extrapolated to rivals NuVasive (NUVA) and K2M Group (KTWO). Landy added that analyst expectations for Mobi-C growth in 2015 might have been "a touch" optimistic amid a slower than expected broadening of reimbursement for two-level use. The analyst maintained an Outperform rating and a $38 price target on LDR stock. Piper Jaffray analyst Matt O'Brien kept an Overweight rating but decreased the price target for LDR's shares to $37.50 from $45, adding that his checks indicate increased interest in and adoption of Mobi-C and that he continues to be optimistic in the company's growth prospects. RBC Capital analyst Brandon Henry maintained an Outperform rating on LDR's stock, yet lowered the price target to $33 from $50, citing recent market volatility and his firm's own reduced revenue expectations. The analyst said he remains positive in the Mobi-C technology as well as the multi-year growth opportunity in the U.S. cervical artificial disk market. Cowen analyst Joshua Jennings said that LDR's weaker than expected third quarter revenue indicate a "small bump in the road" and will ultimately provide a buying opportunity in the company's shares. The analyst said that more pronounced seasonality had a negative impact on the revenue miss as well as tough comps, but LDR's fundamentals remain intact as the Mobi-C opportunity is in the "very early innings." Jennings affirmed an Outperform rating and a $55 price target on LDR Holding shares. PRICE ACTION: In morning trading, LDR Holding shares dropped 24.7% to $27.27, NuVasive fell 1.2% and K2M Group slumped 6.8% to $17.78.
08:48 EDTNUVAInvestors should look at several medtech stocks, says BMO Capital
BMO Capital believes that macro issues have caused declines in medtech stocks. However, the firm thinks that the sector dealt with pricing issues years ago, while patient volumes are rising and larger cap names in the sector have "relatively stable revenue streams." BMO recommends that investors look at stocks with "reasonable multiples," such as Medtronic (MDT), those with new product pipelines such as Boston Scientific (BSX) and Edwards Lifesciences (EW), and those with small-cap product cycles, including Nevro (NVRO), NuVasive (NUVA), and Endologix (ELGX).
06:53 EDTNUVALDR Holding not a proxy for broader spine market, says Northland
After the company preannounced Q3 revenue that came in slightly below the consensus, Northland analyst Mark Landy says LDR Holding (LDRH) is a not a proxy for the broader spine market. The vast majority of LDR's sales are from niche products, Landy tells investors in a research note. As such, he believes last night's news should not be extrapolated to NuVasive (NUVA) and K2M Group (KTWO). He thinks the consensus estimates for LDR's MOBI-C growth in 2015 may have been a "touch optimistic" given a slower than expected broadening of reimbursement for two-level use. He keeps an Outperform rating on LDR Holding with a $38 price target.
October 7, 2015
11:32 EDTBONE, GMED, NUVALeerink medical supplies/devices analyst holds analyst/industry conference call
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07:34 EDTMDXGAlliance for Regenerative Medicine to hold a meeting
Stem Cell Meeting on the Mesa is being held in La Jolla, California on October 7-9.
October 6, 2015
18:18 EDTANIKAnika Therapeutics management to meet with Sidoti
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10:00 EDTNUVAOn The Fly: Analyst Upgrade Summary
Today's noteworthy upgrades include: Communications Sales & Leasing (CSAL) upgraded to Overweight at Morgan Stanley... FedEx (FDX) upgraded on upcoming positive catalysts at Stifel... Mediaset (MDIUY) upgraded to Buy from Hold at HSBC... Melco Crown (MPEL) upgraded to Hold from Sell at Deutsche Bank... NuVasive (NUVA) upgraded to Buy at Canaccord... SJM Holdings (SJMHY) upgraded to Hold from Sell at Deutsche Bank... Select Medical (SEM) upgraded on expected EBITDA jump at Wells Fargo... Smart & Final Stores (SFS) upgraded to Overweight from Equal Weight at Barclays... Springleaf (LEAF) upgraded to Outperform from Market Perform at Keefe Bruyette... Tanger Factory (SKT) upgraded to Neutral from Underperform at BofA/Merrill.
08:05 EDTOSIROsiris announces initiation of Phase III trial for OTI-15-01
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07:55 EDTNUVANuVasive upgraded to Buy at Canaccord
As reported previously, Canaccord upgraded NuVasive to Buy from Hold as they believe a current and projected strong U.S. macro environment for the broad spine market offsets tough comps and will continue to provide a solid tailwind. The firm also sees continued margin expansion and integration of its iGA platform strategy. Canaccord raised its price target to $58 from $52 on NuVasive shares.
06:08 EDTNUVANuVasive upgraded to Outperform from Market Perform at BMO Capital
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06:07 EDTNUVANuVasive upgraded to Buy from Hold at Canaccord
October 5, 2015
20:30 EDTRTIXRTI Surgical management to meet with Craig-Hallum
Meeting to be held in San Francisco on October 8 hosted by Craig-Hallum.
October 2, 2015
12:28 EDTANIKAnika Therapeutics management to meet with Northland
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October 1, 2015
06:09 EDTOSIROsiris assumed with a Hold from Buy at Brean Capital
Brean Capital analyst Jason Wittes downgraded Osiris Therapeutics (OSIR) to Hold after assuming coverage of the name. The analyst views the stock as fairly valued at current levels and sees increased competition from Integra LifeSciences' (IART) entry into the diabetic foot ulcer market.
September 29, 2015
09:16 EDTCNMDLadenburg to hold a conference
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