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News Breaks
December 11, 2012
05:55 EDTTHOR, THOR, HTWR, HTWRLeerink's medical devices analyst hosts a meeting
Medical Supplies & Devices Analyst Antalffy, along with Director of the Mechanical Circulatory Support & Heart Failure Device Program at the University of California, Dr. Klein, and Director of the Heart Failure Program at Stanford University Medical Center, Dr. Fowler, hold a discussion entitled, "Debating the Future of LVADs: Long-Term Market Growth Prospects and THOR vs. HTWR" in Palo Alto, California on December 12.
News For THOR;HTWR From The Last 14 Days
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October 5, 2015
15:15 EDTTHOR, HTWRStudy 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.
08:08 EDTHTWREngaged urges HeartWare to terminate proposed acquisition of Valtech Cardio
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07:32 EDTHTWRHeartWare issues statement regarding Engaged Capital comments
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October 1, 2015
10:00 EDTHTWROn The Fly: Analyst Upgrade Summary
Today's noteworthy upgrades include: AMEC Foster Wheeler (AMFW) upgraded to Neutral from Underperform at Macquarie... Ares Capital (ARCC) upgraded to Outperform from Neutral at Macquarie... Celgene (CELG) upgraded to Overweight from Neutral at JPMorgan... Deutsche Boerse (DBOEY) upgraded to Overweight from Underweight at Barclays... Devon Energy (DVN) upgraded on valuation, catlysts at Bernstein... HeartWare (HTWR) upgraded to Market Perform from Underperform at Northland... IBERIABANK (IBKC) upgraded to Buy from Hold at Sandler O'Neill... (JD) upgraded to Buy from Hold at Deutsche Bank... Kirby (KEX) upgraded to Neutral from Underperform at Macquarie... Madison Square Garden (MSG) upgraded to Buy from Hold at Jefferies... Microsoft (MSFT) upgraded to Neutral from Underperform at BofA/Merrill... Newell Rubbermaid (NWL) upgraded to Buy from Neutral at B. Riley... Norfolk Southern (NSC) upgraded to Outperform from Peer Perform at Wolfe Research... Pernod Ricard (PDRDY) upgraded to Buy from Neutral at Goldman... RWE AG (RWEOY) upgraded to Sector Perform from Underperform at RBC Capital... SanDisk (SNDK) upgraded to Overweight from Equal Weight at Morgan Stanley... Steven Madden (SHOO) upgraded to Outperform ahead of earnings turn at Telsey Advisory... Trex Company (TREX) upgraded to Strong Buy from Buy at CL King... Universal Health (UHS) upgraded to Overweight from Sector Weight at KeyBanc... Western Digital (WDC) upgraded on transaction, valuation, momentum at Argus... Workday (WDAY) upgraded to Overweight from Equal Weight at Stephens.
06:52 EDTHTWRHeartWare upgraded to Market Perform from Underperform at Northland
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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
September 27, 2015
17:29 EDTTHORThoratec reports HeartMate 3 CE Mark trial met primary endpoint
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September 24, 2015
07:36 EDTHTWRLeerink to hold a bus tour
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