VertiFlex announces sale of spinal implant technologies to Stryker VertiFlex, a privately held medical device company, announced the sale of certain assets to Stryker Corporation’s Spine Division relating to spinal implants that are not core to the ongoing strategic operations of VertiFlex. The scale and scope of the deal are not disclosed, however, the transaction provides VertiFlex with significant non-dilutive funding to further advance its platform for minimally invasive treatment of spinal stenosis, the company said. VertiFlex said the agreement with Stryker includes up-front cash, contingent payments as well as a long-term licensing agreement.
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On The Fly: Analyst Downgrade Summary Today's noteworthy downgrades include: Actuant (ATU) downgraded to Neutral from Buy at SunTrust... Aruba Networks (ARUN) downgraded to Perform from Outperform at Oppenheimer... CAE (CAE) downgraded to Sector Perform from Outperform at RBC Capital... City Holding (CHCO) downgraded to Market Perform from Outperform at Keefe Bruyette... Deere (DE) downgraded to Sell from Neutral at Goldman... Disney (DIS) downgraded to Neutral from Overweight at Atlantic Equities... HSBC (HBC) downgraded to Neutral from Outperform at Exane BNP Paribas... L Brands (LTD) downgraded to Underperform from Hold at Jefferies... Manning & Napier (MN) downgraded to Underperform from Neutral at BofA/Merrill... MeadWestvaco (MWV) downgraded to Underperform from Sector Perform at RBC Capital... National Grid (NGG) downgraded to Neutral from Outperform at Exane BNP Paribas... Savient (SVNT) downgraded to Market Perform from Outperform at William Blair... Stryker (SYK) downgraded to Reduce from Neutral at SunTrust... TRW Automotive (TRW) downgraded to Hold from Buy at Deutsche Bank... Universal Health (UHS) downgraded to Neutral from Positive at Susquehanna... Williams-Sonoma (WSM) downgraded to Neutral from Buy at BofA/Merrill... Zimmer (ZMH) downgraded to Reduce from Neutral at SunTrust... Aviva (AV) downgraded to Underperform from Sector Perform at RBC Capital... Pandora (P) downgraded to Hold from Buy at Maxim... Lumos Networks (LMOS) downgraded to Neutral from Buy at DA Davidson... Brocade (BRCD) downgraded to Underperform from Market Perform at William Blair... Applied Materials (AMAT) downgraded to Neutral from Buy at DA Davidson... Cosi (COSI) downgraded to Market Perform from Outperform at Northland Securities.
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