Tornier upgraded to Outperform from Market Perform at Wells Fargo Wells Fargo upgraded Tornier citing valuation and management's positive tone at last week's American Academy of Orthopedic Surgeons meeting. The firm raised its price target range for shares to $24-$26 from $21-$22.
Integra deal with Tornier a win for both, says Piper Jaffray Piper Jaffray analyst Matt O'Brien said he views Integra LifeSciences' (IART) acquisition of Tornier's (TRNX) U.S. ankle replacement and silastic toe replacement products as a "win win" for both companies. O'Brien estimates a deal price between $25M-$35M, saying he believes Integra gets a "quality total ankle system at an attractive price," while adding that Tornier clears the last hurdle with the FTC for its Wright Medical (WMGI) deal with the divestiture. O'Brien maintains his Overweight rating and $72 price target on Integra shares.
Wright Medical approval one of two main catalysts, says Leerink Leerink analyst Richard Newitter views the FDA approval of Augment as one of two main upcoming catalysts for Wright Medical (WMGI). The second is the Tornier (TRNX) deal closing, which the analyst thinks could also occur this quarter. Newitter says an overhang has been removed with the approval and reiterates an Outperform rating on Wright with a $31 price target.