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News For THOR;MDT;ABMD From The Last 14 Days
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October 9, 2015
08:48 EDTMDTInvestors 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).
October 8, 2015
16:39 EDTTHORSt. Jude Medical completes acquisition of Thoratec
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10:00 EDTMDTOn The Fly: Analyst Upgrade Summary
Today's noteworthy upgrades include: Actuant (ATU) upgraded to Neutral from Underweight at JPMorgan... Air Products (APD) upgraded to Buy from Neutral at Goldman... BRF S.A. (BRFS) upgraded to Buy from Neutral at Citi... China Lodging (HTHT) upgraded to Buy from Neutral at Goldman... Columbia Pipeline Group (CPGX) upgraded to Buy from Hold at Jefferies... Edgewell Personal Care (EPC) upgraded to Buy from Neutral at BofA/Merrill... Encore Capital (ECPG) upgraded to Buy from Neutral at Citi... Franco-Nevada (FNV) upgraded to Action List Buy from Buy at TD Securities... Genesco (GCO) upgraded to Strong Buy from Buy at CL King... Helmerich & Payne (HP) upgraded to Outperform at Scotia Howard Weil... Infinera (INFN) upgraded to Buy from Hold at Needham... Lufthansa (DLAKY) upgraded to Sector Perform from Underperform at RBC Capital... Medtronic (MDT) upgraded to Buy from Hold at Evercore ISI... Morgan Stanley (MS) upgraded to Outperform from Market Perform at JMP Securities... Navient (NAVI) upgraded to Buy from Neutral at Goldman... Nike (NKE) upgraded to Buy from Neutral at DA Davidson... Qualys (QLYS) upgraded to Outperform from Neutral at Credit Suisse... Standard Chartered (SCBFF) upgraded to Buy from Neutral at Goldman... Summit Materials (SUM) upgraded to Buy from Neutral at BofA/Merrill... Tahoe Resources (TAHO) upgraded to Outperformer from Sector Performer at CIBC... Tilly's (TLYS) upgraded to Buy from Neutral at B. Riley... Verifone (PAY) upgraded to Strong Buy from Outperform at Raymond James... Yum! Brands (YUM) upgraded to Neutral from Underperform at Credit Suisse.
08:24 EDTABMDCAE delivers first integrated medical imaging, physiology simulator to Abiomed
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06:57 EDTMDTMedtronic upgraded to Buy from Hold at Evercore ISI
Evercore ISI upgraded Medtronic to Buy and increased its price target to $80. Analyst Vijay Kumar continues to view Medtronic as a compelling value given high free-cash-flow yield, low valuation, and attractive dividend yield. Kumar views Medtronic as a "must own" core holding and is "pounding the table" on shares.
October 7, 2015
16:29 EDTTHORThoratec shareholders approve acquisition of company by St. Jude Medical
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11:32 EDTMDTLeerink medical supplies/devices analyst holds analyst/industry conference call
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October 6, 2015
12:36 EDTMDTMedtronic previews clinical studies ahead of symposium
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October 5, 2015
15:15 EDTTHOR, MDTStudy finds potential stroke risk with prosthetic heart valves
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10:52 EDTTHORAnalysts downplay potential impact of St. Jude FDA warning letter
Shares of St. Jude Medical (STJ), a developer, manufacturer and distributor of cardiovascular medical devices, are slightly higher in morning trading after analysts said that the company's receipt of a U.S. Food and Drug Administration warning letter for its Atlanta facility "doesn't look that bad." WHAT'S NEW: On Friday afternoon, St. Jude Medical disclosed in a regulatory filing that it received a warning letter from the FDA, which related to "observed non-conformities" at its Atlanta facility, where it manufactures the CardioMEMS HF system. St. Jude said that the FDA had from June 8-26 inspected the company's Atlanta facility and that various devices of the company manufactured at its Atlanta plant were found to be "adulterated." The FDA also said certain of the company's manufacturing, packing, storage and installation practices "are not in conformity" to the current goods and manufacturing practice requirements. St. Jude said it would continue to manufacture and ship the product from the Atlanta facility and does not expect customer orders to be impacted. WHAT'S NOTABLE: In January 2013, the FDA sent St. Jude Medical a warning letter detailing concerns regarding processes at the company's Sylmar, California facility; the letter did not raise any safety concerns about St. Jude Medical products. The company later detailed efforts to correct problems found during the inspection at the plant, which makes heart defibrillator leads. ANALYST REACTION: Deutsche Bank analyst Kristen Stewart kept a Hold rating on the stock and said that the warning letter "doesn't seem that bad" because St. Jude does not expect any impact on its ability to fulfill or ship customer orders and does not expect a material financial impact relating to the matter. Stewart noted that the FDA "seems satisfied" with the remediation made and has not expressed concerns about the need for a product recall or stop shipment. Similarly, Piper Jaffray analyst Brooks West believes the warning letter will not have a commercial impact on the company, and that the cost of alleviating the FDA's observations "are limited." West has an Overweight rating and $84 price target on the stock. PRICE ACTION: St. Jude Medical is up 0.2% to $63.94 in morning trading. ANOTHER TO WATCH: Thoratec (THOR), which agreed in late July to be acquired by St. Jude Medical, is essentially flat at $63.45.
October 2, 2015
10:02 EDTABMDHigh option volume stocks
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September 30, 2015
18:07 EDTTHORS&P announces changes to the S&P 400, 500 indices
S&P 500 constituent Joy Global (JOY) will replace Thoratec (THOR) in the S&P MidCap 400, and Verisk Analytics (VRSK) will replace Joy Global in the S&P 500 after the close of trading on Wednesday, October 7. S&P 500 constituent St. Jude Medical (STJ) is acquiring Thoratec in a deal expected to be completed on or about that date, pending final approvals. Joy Global has a market capitalization more representative of the mid-cap market space.
17:19 EDTTHORJoy Global to replace Thoratec in S&P 400 as of 10/7 close
09:05 EDTMDTMedtronic announces FDA approval of expanded use of Verify Evaluation System
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September 28, 2015
16:55 EDTMDTMedtronic sees one-time $500M charge in 2Q16
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08:36 EDTMDTMedtronic acquires Lazarus Effect
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September 27, 2015
17:29 EDTTHORThoratec reports HeartMate 3 CE Mark trial met primary endpoint
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