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ALR

Alere

$50.55

1.66 (3.40%)

, ABT

Abbott

$53.84

1.686 (3.23%)

14:27
09/28/17
09/28
14:27
09/28/17
14:27

Canada in pact with Abbott on Alere acquisition

The Competition Bureau announced today that it has reached an agreement with Abbott (ABT)Laboratories that resolves the Bureau's concerns related to Abbott's proposed acquisition of Alere (ALR). The agreement will preserve competition in the supply of medical diagnostic testing products in Canada.The Bureau's review of the proposed merger determined that it would likely result in a substantial lessening of competition in the supply of certain types of medical diagnostic testing products. In Canada, both Abbott and Alere sell point of care testing systems that are used to measure the levels of blood gases and cardiac markers in the blood. The Abbott system is called the i-STAT and the Alere systems are called the Epoc and Triage. The companies also manufacture versions of their i-STAT and Epoc systems for animal health.To resolve the Bureau's concerns, the agreement requires the sale of Alere's Epoc system to Siemens AG (SIEGY )and its Triage system to Quidel Corporation (QDEL), including related intellectual property. Upon a careful review, the Bureau determined that the sales to Siemens and Quidel would resolve the likely substantial lessening of competition. Given that Abbott and Alere's diagnostics businesses operate in many countries and the global nature of the transaction, the Bureau coordinated its review with other jurisdictions, including the European Commission and the U.S. Federal Trade Commission (U.S. FTC). The Bureau's strong relationships with these international counterparts led to an efficient review of this matter. The Bureau's coordination with the U.S. FTC was consistent with the agencies' agreement on Best Practices on Cooperation in Cross-Border Merger Investigations. The Bureau is satisfied that the agreement will preserve competition in Canada, including with respect to price and innovation, in the supply of bedside blood gas and cardiac marker testing systems for human health and point of care blood gas testing systems for animal health.

ALR

Alere

$50.55

1.66 (3.40%)

ABT

Abbott

$53.84

1.686 (3.23%)

SIEGY

Siemens

$69.65

1.06 (1.55%)

QDEL

Quidel

$41.81

-0.73 (-1.72%)

  • 18

    Oct

ALR Alere
$50.55

1.66 (3.40%)

09/19/17
PIPR
09/19/17
UPGRADE
Target $50
PIPR
Overweight
Quidel upgraded to Overweight from Neutral at Piper Jaffray
Piper Jaffray analyst William Quirk upgraded Quidel (QDEL) to Overweight and raised his price target for the shares to $50 from $35. The stock can continue to rise as investors digest how accretive the updated Alere (ALR) deal is and become more comfortable with an Abbott (ABT)/Alere deal close, Quirk tells investors in a research note. To reflect the amended deal agreement, the analyst raised his 2018 earnings estimates for Quidel by 64%.
06/06/17
ADAM
06/06/17
DOWNGRADE
ADAM
Hold
Alere downgraded to Hold from Buy at Canaccord
06/28/17
RBCM
06/28/17
NO CHANGE
RBCM
RBC sees competing bid for Spectranetics as unlikely
RBC Capital analyst Glenn Novarro believes a competing bid for Spectranetics (SPNC) is unlikely and that Philips' (PHG) offer "signals a high probability of an on-time approval." The analyst notes Boston Scientific (BSX) is already developing a drug-eluting stent and a drug-coated balloon for peripheral artery disease and that Abbott (ABT) is integrating St. Jude while also soon closing its buyout of Alere (ALR).
07/18/17
ADAM
07/18/17
UPGRADE
Target $42
ADAM
Buy
Quidel upgraded to Buy from Hold at Canaccord
Canaccord analyst Mark Massaro upgraded Quidel (QDEL) to Buy from Hold as it is a beneficial buyer of Alere (ALR) assets. The analyst said the deal doubles the company's revenues, is immediately accretive, was bought at a low multiple to market value, and provides the company with new platforms to add tests on. Massaro raised his price target to $42 from $25 on Quidel shares.
ABT Abbott
$53.84

1.686 (3.23%)

09/28/17
NORL
09/28/17
DOWNGRADE
Target $60
NORL
Market Perform
Dexcom downgraded to Market Perform from Outperform at Northland
Northland analyst Suraj Kalia downgraded Dexom (DXCM) to Market Perform and cut its price target to $60 from $85 following the surprise PMA approval of Abbott's (ABT) Libre flash glucose monitor for a 10-day use. The analyst said Libre received a concomitant nonadjunctive to fingersticks label, which came as a surprise, and removes a key competitive advantage for Dexcom.
09/28/17
WBLR
09/28/17
NO CHANGE
WBLR
Outperform
William Blair sees Dexcom retaining advantage over Abbott
William Blair analyst Margaret Kaczor says that while she didn't think Abbott's (ABT) Libre Flash Glucose Monitoring device would receive a dosing claim given the product's "inferior accuracy," Libre still lacks DexCom's (DXCM) alerts and alarms that proactively protect the patient from glycemic excursions. Libre's dosing may shift the competitive dynamic "modestly in Abbott's favor versus Street expectations," but more importantly, its approval should be market expansive as it creates a new type of glucose monitoring category in the United States, Kaczor tells investors in a research note. The analyst believes DexCom will retain a "material technological and brand advantage." Further, the company has a "rich product pipeline" including its own 10-day G6 sensor that is nearing approval, the analyst adds. She keeps an Outperform rating on Dexcom. Kaczor thinks the stock, at last night's price between $55 and $56, adequately prices in risk of share loss in the category. Dexcom in premarket trading is down 29% to $47.93.
09/28/17
BMOC
09/28/17
NO CHANGE
BMOC
Dexcom price target lowered to $62 from $90 at BMO Capital
BMO Capital analyst JoanneK.Wuensch lowered her price target on Dexcom (DXCM) after Abbott (ABT) received FDA approval for a competing product. The analyst says the approval was unexpected, but she says that Dexcom's product is "materially superior." She thinks that the company's "long-term growth story remains intact," and she keeps an Outperform rating on the shares.
09/28/17
COWN
09/28/17
NO CHANGE
Target $64
COWN
Outperform
Dexcom price target lowered to $64 from $90 at Cowen
Cowen analyst Doug Schenkel lowered his price target on Dexcom (DXCM) to $64 from $90 and lowered his estimates to reflect the approval of the Abbott (ABT) Libre, with a dosing claim, at least a year earlier than expected. The claim is important because it is a precursor for CMS reimbursement, said Schenkel. He keeps his Outperform rating on Dexcom pending additional details and based on the magnitude of its glucose monitoring opportunity.
SIEGY Siemens
$69.65

1.06 (1.55%)

01/10/17
UBSW
01/10/17
UPGRADE
UBSW
Buy
Siemens upgraded to Buy from Neutral at UBS
01/11/17
GSCO
01/11/17
DOWNGRADE
GSCO
Sell
Siemens downgraded to Sell from Buy at Goldman
Goldman Sachs analyst Daniela Costa double downgraded Siemens to Sell from Buy and lowered her price target for the shares to EUR 100 from EUR 118.
QDEL Quidel
$41.81

-0.73 (-1.72%)

07/18/17
WBLR
07/18/17
UPGRADE
WBLR
Outperform
Quidel upgraded to Outperform from Market Perform at William Blair
William Blair analyst Brian Weinstein upgraded Quidel to Outperform following the company's acquisition of Alere's Triage assets. Canaccord Genuity this morning also upgraded the shares.
09/19/17
LEHM
09/19/17
NO CHANGE
Target $45
LEHM
Overweight
Quidel price target raised to $45 from $39 at Barclays
Barclays analyst Jack Meehan raised his price target for Quidel shares to $45 citing improved accretion and visibility following the company's amended agreement to acquire the Triage and BNP businesses. The analyst continues to support the acquisition and keeps an Overweight rating on Quidel. Piper Jaffray this morning upgraded the shares.

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JAGX

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  • 15

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SLV

iShares Silver Trust

$14.96

-0.19 (-1.25%)

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Pandora

$5.03

0.02 (0.40%)

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GHDX

Genomic Health

$28.00

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GOGO

Gogo

$10.39

-0.22 (-2.07%)

, DAL

Delta Air Lines

$54.30

0.67 (1.25%)

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  • 14

    Dec

AGN

Allergan

$169.34

0.1 (0.06%)

10:01
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  • 25

    Mar

TEVA

Teva

$18.00

2.2982 (14.64%)

10:00
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Teva in-the-money calls active as shares spike »

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  • 14

    Dec

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GBTC

Bitcoin Investment Trust

$2,335.00

62 (2.73%)

09:59
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SAN

Banco Santander

$6.67

0.0832 (1.26%)

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DIS

Disney

$108.26

0.65 (0.60%)

, FOXA

21st Century Fox

$32.75

-1.35 (-3.96%)

09:57
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$108.26

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21st Century Fox

$32.75

-1.35 (-3.96%)

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  • 14

    Dec

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TIF

Tiffany

$100.49

4.39 (4.57%)

, MYL

Mylan

$39.53

0.24 (0.61%)

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ESRX

Express Scripts

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MCK

McKesson

$158.35

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  • 14

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EACQ

Easterly Acquisition Corp

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VTGN

VistaGen Therapeutics

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GHDX

Genomic Health

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SPY

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