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NVTR

Nuvectra

$18.77

-1.57 (-7.72%)

, BSX

Boston Scientific

$35.70

0.9 (2.59%)

05:32
10/25/18
10/25
05:32
10/25/18
05:32

Nuvectra recent selloff brings 'excellent entry point,' says Piper Jaffray

Piper Jaffray analyst Matt O'Brien believes the recent Q3 results of neuromodulation incumbents, Boston Scientific (BSX) and Abbott (ABT), "reinforce the dynamic characteristics" of the spinal cord stimulation marketplace. Nuvectra's (NVTR) Algovita is likely one of the beneficiaries and could post upside in the quarter, O'Brien tells investors in a research note. The analyst says Nuvectra continues to be his top-microcap pick with a "reasonable valuation." Further, the recent softness in the shares "provides an excellent entry point for a name that is still in the early innings of gaining SCS share." He keeps an Overweight rating on Nuvectra with a $25 price target.

NVTR

Nuvectra

$18.77

-1.57 (-7.72%)

BSX

Boston Scientific

$35.70

0.9 (2.59%)

ABT

Abbott

$66.94

-1.6 (-2.33%)

  • 29

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NVTR Nuvectra
$18.77

-1.57 (-7.72%)

07/02/18
PIPR
07/02/18
NO CHANGE
Target $16
PIPR
Overweight
Piper says Nuvectra disappointing but not disastrous delay a buying opportunity
After Nuvectra reported that the FDA has requested that the company provide additional information related to any Virtis modifications as well as further MRI data and that European regulators requested clinical data before granting approval, Piper Jaffray analyst Matt O'Brien called the delays "surprising and disappointing," but not "catastrophic" or "disastrous." The FDA issues should be able to be overcome, while the EU delay looks "more onerous," but O'Brien thinks the market foreign market is not nearly as important from the domestic one, he tells investors. The analyst, who recommends purchasing Nuvectra shares amid the pullback created by the delay, keeps an Overweight rating on the stock with a $16 price target.
07/03/18
JMPS
07/03/18
NO CHANGE
Target $18
JMPS
Outperform
JMP Securities remains a buyers of Nuvectra after regulatory update
JMP Securities analyst David Turkaly noted that Nuvectra shares closed down 15% yesterday following the company's regulatory updates, but he remains a buyer of the stock as he still believes FDA approval for Virtis remains intact for the second half of 2018. The new questions from the FDA appear "relatively benign" and having the pre-PMA audit completed with no observations is a positive event, Turkaly tells investors. He maintains an Outperform rating and $18 price target on Nuvectra shares.
08/01/18
PIPR
08/01/18
NO CHANGE
Target $18
PIPR
Overweight
Piper calls Nuvectra a favorite microcap name, ups target to $18
Piper Jaffray analyst Matt O'Brien calls Nuvectra one of his firm's favorite microcap names and upped his price target for the shares to $18 from $16. The Centers for Medicare and Medicaid Services last Friday released the 2019 proposed SCS reimbursement rates for physician professional services, which increased 19% from the 2018 final rates for both the implantation of first and second trial leads, O'Brien tells investors in a research note. The reimbursement rate increase "should shift the paradigm toward SCS procedures over opioid prescriptions over time," according to the company, the analyst adds. He views the proposed rates as a potential catalyst for Nuvectra and keeps an Overweight rating on the shares.
08/17/18
PIPR
08/17/18
NO CHANGE
Target $25
PIPR
Overweight
Nuvectra's SCS technology 'underappreciated' by investors, says Piper Jaffray
Piper Jaffray analyst Matt O'Brien backed an Overweight rating and $25 price target on Nuvectra after hosting investor meetings with the company's management team. In a research note to investors, O'Brien contends that the Nuvectra's SCS technology is "underappreciated" by investors and believes the company can capture mid- to upper single digit share of this large and growing market, compared to his previous expectation of 3%-4%. O'Brien is moving to the top of his microcap recommendation list and encourages investors to start or build positions in the name.
BSX Boston Scientific
$35.70

0.9 (2.59%)

10/22/18
COWN
10/22/18
NO CHANGE
Target $42
COWN
Outperform
Boston Scientific price target raised to $42 from $39 at Cowen
Cowen analyst Joshua Jennings raised his price target on Boston Scientific to $42 from $39. He believes the story remains compelling given the company's sustainable, above-peer growth combined with regular operating margin expansion and double digit earnings growth. Jennings reiterated his Outperform rating on Boston Scientific shares.
10/19/18
GSCO
10/19/18
DOWNGRADE
Target $44
GSCO
Sell
Nevro downgraded to Sell from Neutral at Goldman Sachs
Goldman Sachs analyst Isaac Ro downgraded Nevro (NRVO) to Sell and lowered his price target for the shares to $44 from $60. The company's cycle of negative estimate revisions is not yet over, Ro tells investors in a research note where he also upgraded DexCom (DXCM) to Neutral. The analyst thinks consensus revenue expectations for Nevro are still too high amid "ramping" competition, the company's ongoing patent litigation with Boston Scientific (BSX) and the hiring disruption in its sales force.
10/24/18
PIPR
10/24/18
NO CHANGE
Target $40
PIPR
Overweight
Piper continues to recommend purchase of Boston Scientific after earnings
Piper Jaffray analyst Matt O'Brien says that while currency proved more of a drag than expected in Boston Scientific's Q3, the company's outlook remains "strong." There were a couple areas of modest weakness in the quarter, but the key growth drivers, namely Neuromod, MedSurg and Structural Heart, were "quite strong again," O'Brien tells investors in a post-earnings research note. The analyst believes Boston Scientific's market opportunities, along with new products, "will continue to buoy revenue results" in 2019 and 2020. He encourages investors to start or build positions in the name and keeps an Overweight rating on Boston Scientific with a $40 price target.
10/16/18
10/16/18
INITIATION

On The Fly: Top five analyst initiations
Catch up on today's top five analyst initiations with this list compiled by The Fly: 1. Abbott (ABT), Boston Scientific (BSX), Stryker (SYK), and Medtronic (MDT) were initiated with an Overweight at Barclays, while Baxter (BAX), Edwards Lifesciences (EW), and Zimmer Biomet (ZBH) were initiated with an Underweight. 2. Expedia (EXPE) was initiated with an Outperform at Evercore ISI, while TripAdvisor (TRIP) was initiated with an In Line, and Booking Holdings (BKNG) was initiated with an In Line. 3. Facebook (FB) was initiated with a Buy at Loop Capital and Rosenblatt. 4. Snap (SNAP) initiated with a Hold at Loop Capital. 5. VF Corp. (VFC) initiated with a Neutral at Wedbush. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.
ABT Abbott
$66.94

-1.6 (-2.33%)

10/18/18
LEER
10/18/18
NO CHANGE
Target $75
LEER
Market Perform
Abbott sales growth momentum poised to continue, says Leerink
Looking into 2019, Leerink analyst Danielle Antalffy sees a number of potential drivers of an above-market growth outlook, including ramping adoption in Freestyle Libre with rollout of Libre 2 in EU and anticipated U.S. launch upon FDA approval, continued turnaround in Nutritionals, and a likely acceleration of MitraClip sales following very strong COAPT data in functional mitral regurgitation, assuming some volume pull-through ahead of an FDA/reimbursement approval. The analyst reiterates a Market Perform rating and $75 price target on the shares.
10/23/18
JPMS
10/23/18
NO CHANGE
Target $81
JPMS
Overweight
Abbott remains a top large-cap pick at JPMorgan
Following a deep dive into the company's Alinity and the Diagnostics opportunity, JPMorgan analyst Robbie Marcus says Abbott Laboratories remains a top large-cap pick due to its "top-tier growth outlook and multiple 2019 catalysts." In the large-cap MedTech universe, Abbott's organic growth profile for 2019 at ~7% puts it near the top end of its peer group, Marcus tells investors in a research note. He believes Abbott has a "clear pathway" to post double-digit earnings growth through 2022. Heading into 2019, Abbott's Diagnostics growth is poised to accelerate on the ongoing roll-out of Alinity in Europe, the mid-year launch of Alinity in the U.S., the recovery of the Alere Rapid Diagnostics, Marcus contends. He keeps an Overweight rating on the shares with an $81 price target.
10/18/18
STFL
10/18/18
NO CHANGE
Target $80
STFL
Buy
Abbott franchises 'clearly' experiencing significant momentum, says Stifel
Stifel analyst Rick Wise noted that Abbott has now reported four consecutive quarters of at least 7% organic sales growth, adding that yesterday's earnings report and associated call should render any lingering questions about the sustainability of its top-of-MedTech sales growth "moot." All four of the company's franchises are "clearly" experiencing significant momentum and their growth drivers seem likely to support high-single digit sales growth at least into 2019, if not beyond, Wise tells investors. He raised his price target on Abbott shares to $80 from $72 following the quarterly report and keeps a Buy rating on the stock.

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Goldman Sachs

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DB

Deutsche Bank

$6.79

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UAL

United Continental

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TGT

Target

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INTC

Intel

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BA

Boeing

$347.19

-1.54 (-0.44%)

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Goldman Sachs

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Sunesis

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APLS

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AZN

AstraZeneca

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STRO

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Incyte

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AbbVie

$78.69

-0.27 (-0.34%)

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INCY

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$77.76

1.385 (1.81%)

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$8.17

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$176.09

-0.74 (-0.42%)

ALXN

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AGIO

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AZN

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BMY

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CELG

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NVS

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KPTI

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GSK

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$40.12

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GILD

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$66.38

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DSNKY

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$0.00

(0.00%)

PFE

Pfizer

$42.75

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PTLA

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$25.78

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QGEN

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$39.52

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RHHBY

Roche

$0.00

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RIGL

Rigel Pharmaceuticals

$2.06

-0.06 (-2.83%)

SNY

Sanofi

$42.46

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SGEN

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STML

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