Ratings on Two Harbors Investment Corp (NYSE: TWO), Volcano (NASDAQ: VOLC) and Wright Medical (NASDAQ: WMGI) were reiterated by analysts today.
Wunderlich reiterated a “buy” rating on Two Harbors Investment Corp (TWO). They have a price target of $11.50 on the company.
JPMorgan Chase & Co. (NYSE:JPM) reiterated an “overweight” rating on Volcano (VOLC).
JPMorgan Chase & Co. reiterated an “overweight” rating on Wright Medical (WMGI). They have a price target of $18.00 on the company.
Showing posts with label Wright Medical Group. Show all posts
Showing posts with label Wright Medical Group. Show all posts
Thursday, May 5, 2011
Wednesday, March 16, 2011
Medical Device Makers (VOLC) (EW) (XRAY) Among Hardest Hit in Japan
A large number of sectors have been hit hard in Japan, depending on the exposure they have to the country, and one not mentioned too much so far is the medical devices market, where those with the most exposure to Japan are Volcano Corp (NASDAQ:VOLC) Edwards Lifesciences Corp (NYSE:EW) and Dentsply International Inc (NASDAQ:XRAY).
About 30 percent of revenue generated by Volcano comes from Japan. Dentsply said key suppliers have been disrupted and has withdrawn its earnings guidance for 2011. Edwards Lifesciences Corp., which makes heart valves, generates about 17 percent of its revenue in Japan. At worst, Edwards sees disruptions being temporary and see no materially impact financial results from the earthquake damage.
Even so, analysts say every company should experience some degree of loss of sales as a result of the natural disaster.
Others device makers with significant exposure in Japan are Boston Scientific Corp (NYSE:BSX), with 12 percent of total sales in Japan, St Jude Medical Inc (NYSE:STJ) and Wright Medical Group Inc (NASDAQ:WMGI) at 11 percent each, Stryker Corp (NYSE:SYK) at 10 percent and Zimmer Holdings Inc (NYSE:ZMH) at 9 percent.
Larger diversified firms with less exposure are Medtronic Inc (NYSE:MDT), Johnson & Johnson (NYSE:JNJ) and Abbott Laboratories (NYSE:ABT) with from 5 percent to 6 percent of sales coming from Japan.
Of drugmakers, the largest exposure is Merck & Co Inc (NYSE:MRK) with about 8 percent of sales coming from Japan. Bristol Myers Squibb (NYSE:BMY) only has about 3 percent of sales come from there.
Volcano Corp. closed Tuesday at $23.56, down $1.21, or 4.88 percent. Edwards Lifesciences closed at $86.23, dropping $2.23, or 2.52 percent. Densply closed at $35.63, falling $1.55, or 4.17 percent.
About 30 percent of revenue generated by Volcano comes from Japan. Dentsply said key suppliers have been disrupted and has withdrawn its earnings guidance for 2011. Edwards Lifesciences Corp., which makes heart valves, generates about 17 percent of its revenue in Japan. At worst, Edwards sees disruptions being temporary and see no materially impact financial results from the earthquake damage.
Even so, analysts say every company should experience some degree of loss of sales as a result of the natural disaster.
Others device makers with significant exposure in Japan are Boston Scientific Corp (NYSE:BSX), with 12 percent of total sales in Japan, St Jude Medical Inc (NYSE:STJ) and Wright Medical Group Inc (NASDAQ:WMGI) at 11 percent each, Stryker Corp (NYSE:SYK) at 10 percent and Zimmer Holdings Inc (NYSE:ZMH) at 9 percent.
Larger diversified firms with less exposure are Medtronic Inc (NYSE:MDT), Johnson & Johnson (NYSE:JNJ) and Abbott Laboratories (NYSE:ABT) with from 5 percent to 6 percent of sales coming from Japan.
Of drugmakers, the largest exposure is Merck & Co Inc (NYSE:MRK) with about 8 percent of sales coming from Japan. Bristol Myers Squibb (NYSE:BMY) only has about 3 percent of sales come from there.
Volcano Corp. closed Tuesday at $23.56, down $1.21, or 4.88 percent. Edwards Lifesciences closed at $86.23, dropping $2.23, or 2.52 percent. Densply closed at $35.63, falling $1.55, or 4.17 percent.
Wednesday, January 5, 2011
Mako Surgical (Nasdaq: MAKO), Wright Medical Group (Nasdaq:WMGI) And Healthcare Sector
Mako Surgical (Nasdaq:MAKO) and Wright Medical Group (Nasdaq:WMGI) were listed as the favorite and worst in the medical group coverage network of Brigantine Advisors.
Brigantine said, "The S&P 500 Index returned +12.8% in 2010 (+15.1% including dividends), with all 10 economic sectors in positive territory led by the consumer discretionary (+25.7%), industrials (+23.9%) and materials (+19.9%) groups. The healthcare sector was the worst performing category, rising only 0.71% including a loss of 3.9% for the medical equipment subcategory. However, the bifurcated nature of the market was pronounced in 2010, with the S&P MidCap 400 Index surging 24.9% and the S&P SmallCap 600 gaining 25.0%."
"On the long side, Brigantine Advisors continues to favor names with disruptive medical technology, strong market positioning and the opportunity to create new therapeutic protocols. Conversely, we believe the macro environment will not support a dramatic recovery in surgical procedure volumes in 2011, particularly in the orthopedics category, and given our expectation for more intense pricing pressures we believe many stocks in the group will struggle to generate alpha should investors continue to shift their focus to riskier assets and more cyclical sectors."
"Top picks for 2011: Our favorite long idea is Mako Surgical (Buy), a developer of the Robotic Arm Interactive Orthopedic (RIO) surgery system currently utilized in partial and total knee replacement surgery with potential applications in hip replacement and other orthopedic procedures. Our price target on MAKO is $25. Conversely, we have a Sell rating on Wright Medical Group (Sell), an orthopedic implant manufacturer with exposure to the hip, knee, extremity and biologics categories, and maintain our $13 price target on the stock."
Mako Surgical was trading at $14.53, down $0.07, or 0.48 percent, as of 11:56 AM EST. Wright Medical Group was trading at $16.37, down $0.01, or 0.06 percent.
Brigantine said, "The S&P 500 Index returned +12.8% in 2010 (+15.1% including dividends), with all 10 economic sectors in positive territory led by the consumer discretionary (+25.7%), industrials (+23.9%) and materials (+19.9%) groups. The healthcare sector was the worst performing category, rising only 0.71% including a loss of 3.9% for the medical equipment subcategory. However, the bifurcated nature of the market was pronounced in 2010, with the S&P MidCap 400 Index surging 24.9% and the S&P SmallCap 600 gaining 25.0%."
"On the long side, Brigantine Advisors continues to favor names with disruptive medical technology, strong market positioning and the opportunity to create new therapeutic protocols. Conversely, we believe the macro environment will not support a dramatic recovery in surgical procedure volumes in 2011, particularly in the orthopedics category, and given our expectation for more intense pricing pressures we believe many stocks in the group will struggle to generate alpha should investors continue to shift their focus to riskier assets and more cyclical sectors."
"Top picks for 2011: Our favorite long idea is Mako Surgical (Buy), a developer of the Robotic Arm Interactive Orthopedic (RIO) surgery system currently utilized in partial and total knee replacement surgery with potential applications in hip replacement and other orthopedic procedures. Our price target on MAKO is $25. Conversely, we have a Sell rating on Wright Medical Group (Sell), an orthopedic implant manufacturer with exposure to the hip, knee, extremity and biologics categories, and maintain our $13 price target on the stock."
Mako Surgical was trading at $14.53, down $0.07, or 0.48 percent, as of 11:56 AM EST. Wright Medical Group was trading at $16.37, down $0.01, or 0.06 percent.
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