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ICUI

ICU Medical

$125.96

0.26 (0.21%)

, PFE

Pfizer

09:31
10/06/16
10/06
09:31
10/06/16
09:31

ICU Medical to acquire Hospira Infusion Systems Business from Pfizer for $1B

ICU Medical (ICUI) and Pfizer (PFE) announced earlier that they have entered into a definitive agreement under which ICU Medical will acquire all of Pfizer's global infusion therapy business, Hospira Infusion Systems, for $1B in cash and stock. The Hospira Infusion Systems business includes IV pumps, solutions, and devices that, when combined with ICU Medical's existing businesses, will create a leading pure-play infusion therapy company, with estimated pro forma combined revenues of approximately $1.45B based on trailing twelve month results as of June 2016. Under the terms of the agreement, Pfizer will receive approximately $400M in newly issued shares of ICU Medical common stock and $600M in cash from ICU Medical subject to customary adjustment for net working capital. Upon completion of the transaction, which the companies expect to occur in the first quarter of 2017 subject to customary closing conditions including required regulatory approvals, Pfizer will own approximately 16.6% of ICU Medical. In addition, so long as Pfizer continues to hold 10% or more of ICU Medical's common equity, it will have the right to nominate one director to the company's board of directors in ICU Medical's proxy materials, and Pfizer has agreed to certain restrictions on transfer of its shares for at least 18 months.

ICUI

ICU Medical

$125.96

0.26 (0.21%)

PFE

Pfizer

  • 07

    Oct

  • 01

    Nov

ICUI ICU Medical
$125.96

0.26 (0.21%)

01/14/16
PIPR
01/14/16
NO CHANGE
Target $129
PIPR
Overweight
Piper views potential Pfizer divestment as neutral for ICU Medical
Piper Jaffray analyst Thomas Gunderson views Bloomberg's report that Pfizer (PFE) may be considering a sale of the infusion pump division of the recently acquired Hospira as neutral for ICU Medical (ICUI). Hospira has traditionally been ICU's largest customer, which has some worrying that if the infusion pumps are sold once again, the business could be at risk, Gunderson tells investors in a research note. He believes, however, that a Pfizer divestment could bring some upside to ICU since the infusion pump business is not in the pharma giant's "wheelhouse." Gunderson keeps an Overweight rating on ICU Medical with a $129 price target.
03/11/16
GABE
03/11/16
INITIATION
GABE
Buy
ICU Medical initiated with a Buy at Gabelli
08/09/16
ROTH
08/09/16
NO CHANGE
Target $132
ROTH
Buy
ICU Medical Direct sales momentum continues, says Roth Capital
Roth Capital analyst Chris Lewis says ICU Medical delivered a Q2 beat and raised its 2016 outlook as Direct sales momentum and OEM/Hospira growth continued. Although the company expects an even steeper decline in Hospira over the second half of 2016, the analyst believes ICU Medical is well-positioned to sustain revenue growth on Direct strength and non-Hospira OEM channels, with margin expansion opportunities materializing in 2017. Lewis reiterates a Buy rating on the stock and raised his price target on the shares to $132 from $130.
PFE Pfizer

08/22/16
GSCO
08/22/16
NO CHANGE
GSCO
Goldman lists companies to be in focus after Medivation deal
After Pfizer (PFE) announced it has agreed to acquire Medivation (MDVN) for $81.50 per share in cash, Goldman Sachs analyst Salveen Richter said he expects a focus on other commercial small-to-mid-cap cancer companies, including Incyte (INCY), Seattle Genetics (SGEN), ARIAD (ARIA) and Exelixis (EXEL). Also noting that Sanofi (SNY), which was pursuing Medivation, has recently suggested an interest in a rare disease transaction up to potentially as large as $20B, he would expect rare disease companies of that size - such as BioMarin (BMRN), Amicus (FOLD) and Ultragenyx (RARE) - to be in focus as well.
08/23/16
PIPR
08/23/16
NO CHANGE
PIPR
Pfizer acquisition 'a good fit strategically,' says Piper Jaffray
After Pfizer (PFE) agreed to buy Medivation (MDVN), Piper Jaffray analyst Richard Purkiss says that Pfizer has obtained Xtandi, "a blockbuster prostate cancer treatment," and "a close-to-market and late-stage pipeline." The analyst thinks that Xtandi's expansion to use in adjuvant prostate cancer could increase its sales by 65%-70%. He keeps a $54 price target and Overweight rating on Pfizer.
08/23/16
RHCO
08/23/16
DOWNGRADE
RHCO
Neutral
Medivation downgraded to Neutral from Buy at SunTrust
Medivation (MDVN) has agreed to be acquired by Pfizer (PFE) for $81.50 per share.
09/14/16
BMOC
09/14/16
NO CHANGE
BMOC
Pfizer should exceed fiscal 2016 guidance, says BMO Capital
BMO Capital analyst Alex Arfaei says that Pfizer should exceed its fiscal 2016 guidance. The analyst says that Medivation, which Pfizer agreed to acquire, gives Pfizer another growth driver. Additionally, Pfizer has a number of other "high margin specialty drugs," according to the analyst. He says that the stock's dividend yield is "attractive," and he keeps a $40 price target and Outperform rating on the shares.

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PTLA

Portola Pharmaceuticals

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VALE

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NeuroMetrix

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CAT

Caterpillar

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HZNP

Horizon Pharma

$11.87

0.44 (3.85%)

11:04
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Horizon Pharma now sees FY17 net sales $985M-$1.02B, consensus $990.53M »

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HZNP

Horizon Pharma

$11.87

0.44 (3.85%)

11:02
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Horizon Pharma completes sale of European marketing rights for Procysbi »

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UUP

PowerShares DB US Dollar Index Up

$25.14

-0.09 (-0.36%)

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11:00
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NVO

Novo Nordisk

$44.13

0.46 (1.05%)

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UPS

UPS

$110.54

1.469 (1.35%)

10:45
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UPS call volume above normal and directionally bullish »

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WMGI

Wright Medical

$26.99

0.11 (0.41%)

10:45
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Conference/Events
Wright Medical has a conference call hosted by JPMorgan »

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  • 23

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WDC

Western Digital

$90.25

-0.78 (-0.86%)

10:40
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SNCR

Synchronoss

$12.18

1.53 (14.37%)

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Synchronoss confirms receipt of Siris Capital indication of interest »

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TGT

Target

$50.81

0.175 (0.35%)

10:31
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Periodicals
Target starts removing all Hampton Creek products from stores, Bloomberg reports »

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10:30
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The 2.9% May U.S. new home sales rise »

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YY

YY

$58.32

-0.66 (-1.12%)

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SYY

Sysco

$50.78

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US Foods

$26.33

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USFD

US Foods

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PFGC

Performance Food Group

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AMZN

Amazon.com

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WFM

Whole Foods

$43.20

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  • 28

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ALGN

Align Technology

$149.69

0.27 (0.18%)

10:25
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Conference/Events
Stifel medical technology analysts hold an analyst/industry conference call »

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TM

Toyota

$105.10

-0.39 (-0.37%)

10:24
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  • 27

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AVEO

AVEO Oncology

$0.73

0.0281 (4.02%)

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THO

Thor Industries

$107.98

0.84 (0.78%)

10:22
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Conference/Events
Thor Industries management to meet with Cancaccord »

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DIS

Disney

$103.66

-0.56 (-0.54%)

10:22
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