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ABMD

Abiomed

$175.20

4.45 (2.61%)

, ABT

Abbott

$81.49

0.95 (1.18%)

11:29
10/23/19
10/23
11:29
10/23/19
11:29

Trial for potential Abiomed competition pushed back a year, says Piper Jaffray

This morning, the primary completion date for Abbott's (ABT) Shield II trial for its percutaneous heart pump was updated from December 2020 to December 2021 on clinicaltrials.gov, Piper Jaffray analyst Matt O'Brien tells investors in a research note. Heartmate PHP is generally regarded as the most near-term competition for Abiomed, though Abbott management has been somewhat opaque about timelines as of late, adds the analyst. O'Brien, who is unsure if today's update represents any sort of change in thinking from the company, notes that he's been saying for some time that the product is likely farther away than people are anticipating. He continues to believe in the long-term opportunity for Abiomed "in this largely untapped market." The analyst has an Overweight rating on the shares with a $240 price target. Abiomed is up 3%, or $5.79, to $176.62 in late morning trading.

ABMD

Abiomed

$175.20

4.45 (2.61%)

ABT

Abbott

$81.49

0.95 (1.18%)

  • 31

    Oct

  • 13

    Nov

ABMD Abiomed
$175.20

4.45 (2.61%)

08/04/19
PIPR
08/04/19
NO CHANGE
PIPR
Overweight
Abiomed shares should rally on final IPPS rates, says Piper Jaffray
The final inpatient prospective payment system rates were issued by the Center Medicare & Medicaid Services that go into effect on October 1 late last Friday, Piper Jaffray analyst Matt O'Brien tells investors in a research note. Overall, the rates were cut a little more than they were in 2019 based on relative values, adds the analyst. However, the "clear surprise" from the final rates, according to O'Brien, was diagnosis-related group 215 was unchanged compared to 2019 following a proposed cut of about 27% earlier this year. This code is where most Impella cases are charged to, so the update on Friday will likely be viewed favorably for Abiomed, says the analyst. He expects the stock to rally Monday on the news and keeps an Overweight rating on the name.
08/05/19
JEFF
08/05/19
NO CHANGE
Target $255
JEFF
Buy
CMS reversal a positive for Abiomed growth and shares, says Jefferies
In a surprise move late Friday, Centers for Medicare and Medicaid Services left reimbursement for the primary Impella reimbursement code unchanged in the final rule for fiscal 2020, Jefferies analyst Raj Denhoy tells investors in a research note. This comes after CMS had proposed cutting the rate by 27%, the analyst points out. While reimbursement is a minor consideration in adoption and use of Impella, the reversal should be seen as a positive for continued growth and for Abiomed shares, contends Denhoy. He keeps a Buy rating on the stock with a $255 price target.
09/29/19
PIPR
09/29/19
NO CHANGE
Target $240
PIPR
Overweight
Piper Jaffray still believes in Impella, Abiomed
Piper Jaffray analyst Matt O'Brien acknowledges the near-term issues Abiomed is encountering but continues to believe in Impella and the company. The analyst views the positive Protect III study as a potential shot in the arm for the protected PCI business. Additionally, the headwinds surrounding low-risk TAVR enthusiasm and need for more sales leadership will likely abate in the coming months, which should result in more uptake of Impella, he contends, adding that he heard positive clinician feedback on the recently released 5.5 product and continued progress in developing a smaller insertion sheath and ECP and enrolling the STEMI trial. O'Brien reiterates an Overweight rating and a $240 price target on the shares.
09/30/19
WBLR
09/30/19
NO CHANGE
WBLR
Outperform
Abiomed return to 20%-plus growth still unpredictable, says William Blair
After attending the Transcatheter Cardiovascular Therapeutics 2019 meeting, William Blair analyst Margaret Kaczor believes near-term dynamics and timing of a return to 20%-plus growth "remain somewhat unpredictable" as Abiomed moves into the next leg of Impella adoption. Following two weak quarters in a row, Abiomed shares have become a "show-me" story until the company demonstrates it can start to reaccelerate growth sustainably, Kaczor tells investors in a research note. The analyst, however, continues to believe that Impella penetration remains low at less than 15% and that the long-term thesis around hemodynamic support remains intact. She keeps an Outperform rating on Abiomed.
ABT Abbott
$81.49

0.95 (1.18%)

10/15/19
PIPR
10/15/19
NO CHANGE
PIPR
Overweight
Abbott partnership a positive for Tandem Diabetes, says Piper Jaffray
Piper Jaffray analyst JP McKim said Tandem Diabetes' (TNDM) and Abbott's (ABT) announcement that they are exploring a diabetes management closed loop system is the first step in a process that he believes will need at least 10 months, and likely more, to result in an integrated product coming to market. While he does not know if this announcement implies integration with the Libre 2.0 or Libre 3.0, his "gut is most likely Libre 3.0" but he views the news as a positive for Tandem "either way." The news will likely have a negative read-through for DexCom (DXCM), added McKim, who expects a similar announcement from Insulet (PODD) about working with Abbott as well. McKim keeps an Overweight rating and $80 price target on Tandem shares.
10/15/19
BARD
10/15/19
NO CHANGE
Target $81
BARD
Outperform
Tandem, Abbott agreement raises several questions, says Baird
Baird analyst Jeff Johnson notes that Abbott (ABT) and Tandem Diabetes (TNDM) have announced an agreement to develop and commercialize integrated diabetes solutions combining the former's next-generation FS Libre with the latter's "innovative insulin delivery systems." While the analyst is not "overly surprised" by this announcement as Tandem has long said it would eventually work with various CGM manufacturers, release timing raises several questions, including about potential for further iCGM timing delays for Libre. Regardless, Johnson sees the news as "slightly positive" for Tandem and "slightly negative" for DexCom (DXCM), but "nothing overly impactful" for either over next year or two. He has an Outperform rating and $81 price target on Tandem's shares.
10/15/19
OPCO
10/15/19
NO CHANGE
OPCO
Outperform
DexCom should be bought after 'negative' Tandem headline, says Oppenheimer
Oppenheimer analyst Steven Lichtman said Tandem Diabetes' (TNDM) announcement that it is exploring integrated solutions with Abbott (ABT) is a potential long-term positive as integration with the latter's Libre system would expand the former's reach with patients. While a "negative headline" for DexCom (DXCM), he would be a buyer on weakness, arguing that it is still early in the process and DexCom "continues to march forward toward" G-7, with a limited launch of the CGM expected in late 2020. Lichtman has Outperform ratings on both Tandem and DexCom.
10/17/19
LSCM
10/17/19
NO CHANGE
Target $100
LSCM
Buy
Tandem Diabetes partnership offers 'substantial opportunity,' says Lake Street
Lake Street analyst Brooks O'Neil believes Tandem Diabetes' (TNDM) partnership with Abbott (ABT) offers the company "substantial opportunity." Abbott's Libre opens a "huge incremental opportunity" for Tandem both in the U.S. and around the world, O'Neil tells investors in a research note. In addition, the deal likely opens the "door wide" for further positive reimbursement decisions for Tandem, contends the analyst. He keeps a Buy rating on Tandem Diabetes with a $100 price target.

TODAY'S FREE FLY STORIES

WBA

Walgreens Boots Alliance

$62.35

0.09 (0.14%)

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QSR

Restaurant Brands

$67.39

-0.15 (-0.22%)

10:45
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F

Ford

$9.11

0.03 (0.33%)

, GM

General Motors

$38.89

0.18 (0.46%)

10:38
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F

Ford

$9.11

0.03 (0.33%)

GM

General Motors

$38.89

0.18 (0.46%)

HMC

Honda

$29.35

0.15 (0.51%)

NSANY

Nissan

$0.00

(0.00%)

TM

Toyota

$145.00

-0.07 (-0.05%)

TSLA

Tesla

$348.78

3.71 (1.08%)

DDAIF

Daimler AG

$0.00

(0.00%)

FCAU

Fiat Chrysler

$16.21

0.1 (0.62%)

VWAGY

Volkswagen

$0.00

(0.00%)

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KSS

Kohl's

$56.48

-0.56 (-0.98%)

10:35
11/12/19
11/12
10:35
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10:35
Options
Kohl's put volume heavy and directionally bearish »

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10:35
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General news
FX Action: USD-JPY »

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DIS

Disney

$139.04

2.3 (1.68%)

10:31
11/12/19
11/12
10:31
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10:31
Hot Stocks
Disney says Disney+ 'exceeded our high expectations,' working on glitches »

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KHC

Kraft Heinz

$32.77

0.01 (0.03%)

10:25
11/12/19
11/12
10:25
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10:25
Options
Kraft Heinz call volume above normal and directionally bullish »

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RHHBY

Roche

$0.00

(0.00%)

10:25
11/12/19
11/12
10:25
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10:25
Conference/Events
Roche to hold a conference call »

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  • 12

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  • 07

    Dec

REPL

Replimune Group

$17.24

0.11 (0.64%)

10:25
11/12/19
11/12
10:25
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10:25
Conference/Events
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  • 12

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10:25
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Conference/Events
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LH

LabCorp

$165.45

-0.29 (-0.17%)

10:23
11/12/19
11/12
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Syndicate
Breaking Syndicate news story on LabCorp »

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CRWD

Crowdstrike

$47.57

1.39 (3.01%)

, TEVA

Teva

$9.36

0.03 (0.32%)

10:21
11/12/19
11/12
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On The Fly
JPMorgan gets less bearish on Xerox among today's top calls on Wall Street »

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CRWD

Crowdstrike

$47.57

1.39 (3.01%)

TEVA

Teva

$9.36

0.03 (0.32%)

AMRX

Amneal Pharmaceuticals

$2.69

0.05 (1.89%)

XRX

Xerox

$38.05

-0.28 (-0.73%)

HPQ

HP Inc.

$19.33

-0.31 (-1.58%)

AMAT

Applied Materials

$56.81

0.21 (0.37%)

03/08/13
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    Dec

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    Dec

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    Dec

UCBJY

UCB

$0.00

(0.00%)

10:20
11/12/19
11/12
10:20
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10:20
Conference/Events
UCB participates in a conference call with JPMorgan »

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AMRN

Amarin

$19.92

3.02 (17.87%)

10:18
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  • 14

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$NSD

NASDAQ Market Internals

$0.00

(0.00%)

10:17
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ARLO

Arlo Technologies

$2.84

0.18 (6.77%)

, CCC

Clarivate Analytics

$17.22

0.13 (0.76%)

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Arlo Technologies

$2.84

0.18 (6.77%)

CCC

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$17.22

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STOK

Stoke Therapeutics

$30.87

1.04 (3.49%)

BMRN

BioMarin

$75.96

0.72 (0.96%)

BIIB

Biogen

$291.50

-2.41 (-0.82%)

AMGN

Amgen

$223.35

2.66 (1.21%)

CTVA

Corteva

$27.06

0.32 (1.20%)

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CSX

CSX

$72.89

-1.04 (-1.41%)

, ETN

Eaton

$91.78

-0.09 (-0.10%)

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CSX

CSX

$72.89

-1.04 (-1.41%)

ETN

Eaton

$91.78

-0.09 (-0.10%)

AMRX

Amneal Pharmaceuticals

$2.71

0.07 (2.65%)

ALB

Albemarle

$67.47

-0.25 (-0.37%)

BOX

Box

$15.93

-0.52 (-3.16%)

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ARGO

Argo Group

$63.82

2.54 (4.14%)

, LYV

Live Nation

$64.79

0.32 (0.50%)

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ARGO

Argo Group

$63.82

2.54 (4.14%)

LYV

Live Nation

$64.79

0.32 (0.50%)

RCII

Rent-A-Center

$23.13

0.78 (3.49%)

CRWD

Crowdstrike

$47.25

1.07 (2.32%)

TEVA

Teva

$9.40

0.07 (0.75%)

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  • 05

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$NYE

NYSE Market Internals

$0.00

(0.00%)

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NYSE market internals summary »

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DIS

Disney

$138.17

1.43 (1.05%)

10:15
11/12/19
11/12
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10:15
Periodicals
Disney tells CNBC streaming service launch exceeds 'high expectations' »

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S

Sprint

$5.90

-0.01 (-0.17%)

10:15
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Sprint put volume heavy and directionally bearish »

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  • 09

    Dec

IDRA

Idera Pharmaceuticals

$2.29

0.06 (2.69%)

10:15
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Conference/Events
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DIS

Disney

$138.25

1.51 (1.10%)

10:12
11/12/19
11/12
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Periodicals
Disney working to fix Disney+ issues amid 'incredible response,' TechCrunch says »

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