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AXNX

Axonics

$29.72

-2.66 (-8.21%)

, MDT

Medtronic

$117.86

-0.81 (-0.68%)

11:26
01/13/20
01/13
11:26
01/13/20
11:26

Axonics selloff on Medtronic approval not warranted, says Piper Sandler

Piper Sandler analyst Adam Maeder says today's selloff in shares of Axonics Modulation Technologies (AXNX) on news that Medtronic (MDT) received CE Mark approval for its next-gen InterStim Micro and MRI compatible SureScan leads is not warranted. The timing is in line with expectations and Axonics remains well positioned to capture share from Medtronic, Maeder tells investors in a research note. While the Street is "hyper-focused on competitive dynamics," an underappreciated part of the Axonics story is the potential for market expansion and market growth acceleration, contends the analyst. He reiterates an Overweight rating on the shares with a $44 price target. Axonics in morning trading is down 9% to $29.48.

AXNX

Axonics

$29.72

-2.66 (-8.21%)

MDT

Medtronic

$117.86

-0.81 (-0.68%)

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AXNX Axonics
$29.72

-2.66 (-8.21%)

12/10/19
MSCO
12/10/19
NO CHANGE
Target $42
MSCO
Overweight
Morgan Stanley raises Axonics estimates after 'bullish' survey of urologists
Morgan Stanley analyst David Lewis said his survey of 82 urologists and one urogynecologist in the U.S. was bullish for sacral neuromodulation system, or SNM, market growth, leading him to raise his market growth assumptions. His survey also shows that physicians plan to shift relatively quickly toward Axonics (AXNX), though its share may contract after Medtronic's (MDT) next-gen Interstim Micro introduction in mid-2020, added Lewis. The analyst, who updated his assumptions to reflect Axonics reaching 16% U.S. market share by mid-2020 and 21% share in 2021, both of which are up from his prior estimates, keeps an Overweight rating and $42 price target on Axonics shares.
12/30/19
PIPR
12/30/19
NO CHANGE
Target $39
PIPR
Overweight
Piper says LinkedIn activity of Axonics provides positive read on U.S. launch
Piper Jaffray analyst Adam Maeder noted that Axonics has used its corporate LinkedIn page to highlight 48 different U.S. physicians who have completed an initial implant of the company's r-SNM system, which he views as a positive data point about the company's recently commenced U.S. commercial launch. Maeder, who sees consensus estimates for Q4 and 2020 for Axonics as "comfortably achievable," keeps an Overweight rating and the $39 price target on the shares.
01/07/20
RHCO
01/07/20
INITIATION
Target $38
RHCO
Buy
Axonics initiated with a Buy at SunTrust
SunTrust analyst Kaila Krum initiated coverage of Axonics with a Buy rating and $38 price target. The sacral neuromodulation market is already large and growth is expected to accelerate on a number of drivers, Krum tells investors in a research note. Axonics is well prepared to enter the space and capture share, contends the analyst.
01/09/20
PIPR
01/09/20
NO CHANGE
Target $44
PIPR
Overweight
Axonics price target raised to $44 from $39 at Piper Sandler
Piper Sandler analyst Adam Maeder raised his price target for Axonics Modulation Technologies to $44 from $39 after the company's preliminary Q4 sales results came in well above Street expectations. The analyst says that while commercial execution will remain paramount over the next several quarters, he's incrementally confident in the company's U.S. commercial ramp after seeing the preliminary Q4 results. Maeder reiterates an Overweight rating on Axonics.
MDT Medtronic
$117.86

-0.81 (-0.68%)

12/13/19
CHLM
12/13/19
NO CHANGE
Target $92
CHLM
Buy
Craig-Hallum reiterates Buy rating on Tandem Diabetes after Control-IQ approval
After the FDA "finally" authorized marketing of the Tandem Diabetes Care Control-IQ Technology, Craig-Hallum analyst Alexander Nowak said Tandem Diabetes' (TNDM) Control-IQ is "the next evolution in making insulin pumps easier" and estimated that if pump penetration rose to 50% it would add 400,000 pumps, or $1.4B in revenue potential, to the market Tandem has been taking share from Medtronic (MDT) and Nowak expects Control-IQ to continue or accelerate this trend, he added. Nowak reiterated his Buy rating and $92 price target on Tandem Diabetes shares following the approval news.
01/02/20
GUGG
01/02/20
UPGRADE
Target $135
GUGG
Buy
Medtronic upgraded to Buy from Neutral at Guggenheim
Guggenheim analyst Christopher Pasquale upgraded Medtronic to Buy from Neutral with a $135 price target.
01/02/20
GUGG
01/02/20
NO CHANGE
GUGG
Guggenheim upgrades Medtronic, downgrades Abbott on 'converging fundamentals'
As previously reported, Guggenheim analyst Christopher Pasquale upgraded Medtronic (MDT) to Buy from Neutral with a $135 price target, telling investors that he sees 2020 as the year that the company's "much-touted" pipeline begins to translate into financial results given expected FDA approvals for the Micra AV leadless pacemaker and 780G insulin pump. He also thinks longer-term projects like the Hugo robotic surgery platform, Intrepid TMVR, and Symplicity RDN system could begin to move the needle in FY22 and expects Medtronic's valuation discount to peers to narrow as visibility improves. Meanwhile, in the same note to investors, Pasquale downgraded Abbott (ABT) to Neutral from Buy as he expects Libre's contribution to overall growth to fade and predicts a "gradual deceleration" in overall growth from 7.6% in 2019 to 5.9% in 2023.
01/07/20
RHCO
01/07/20
INITIATION
Target $130
RHCO
Buy
Medtronic initiated with a Buy at SunTrust
SunTrust analyst Kaila Krum initiated coverage of Medtronic with a Buy rating and $130 price target. While Medtronic has offered new products over the years, its latest pipeline has included several more transformational launches, Krum tells investors in a research note. The analyst expects the company's sales growth to drive cash flows.

TODAY'S FREE FLY STORIES

TLGT

Teligent

$0.40

-0.0025 (-0.62%)

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AYTU

Aytu BioScience

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0.0014 (0.18%)

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DVA

DaVita

$79.45

0.43 (0.54%)

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  • 23

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TSM

TSMC

$58.58

-0.18 (-0.31%)

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KKR

KKR

$31.20

0.7 (2.30%)

, APO

Apollo Global

$50.35

1.26 (2.57%)

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KKR

KKR

$31.20

0.7 (2.30%)

APO

Apollo Global

$50.35

1.26 (2.57%)

ARES

Ares Management

$37.29

0.47 (1.28%)

BX

Blackstone

$60.79

0.62 (1.03%)

CG

Carlyle Group

$33.30

0.36 (1.09%)

HLNE

Hamilton Lane

$67.25

-0.02 (-0.03%)

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SPCE

Virgin Galactic

$15.65

0.685 (4.58%)

, TWNK

Hostess Brands

$14.03

0.02 (0.14%)

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SPCE

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$15.65

0.685 (4.58%)

TWNK

Hostess Brands

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GOOG

Alphabet

$1,480.28

28.34 (1.95%)

, NFLX

Netflix

$339.56

0.89 (0.26%)

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GOOG

Alphabet

$1,480.28

28.34 (1.95%)

NFLX

Netflix

$339.56

0.89 (0.26%)

CMCSK

Comcast

$0.00

(0.00%)

CMCSA

Comcast

$47.48

0.62 (1.32%)

GOOGL

Alphabet Class A

$1,479.12

29.29 (2.02%)

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JWN

Nordstrom

$40.34

-0.15 (-0.37%)

, WMT

Walmart

$114.93

-0.96 (-0.83%)

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Casper IPO highlights tech's promise, troubles, Barron' says »

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JWN

Nordstrom

$40.34

-0.15 (-0.37%)

WMT

Walmart

$114.93

-0.96 (-0.83%)

CSPR

Casper Sleep

$0.00

(0.00%)

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BA

Boeing

$324.11

-7.89 (-2.38%)

, DDAIF

Daimler AG

$0.00

(0.00%)

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BA

Boeing

$324.11

-7.89 (-2.38%)

DDAIF

Daimler AG

$0.00

(0.00%)

FCAU

Fiat Chrysler

$13.76

-0.14 (-1.01%)

VWAGY

Volkswagen

$0.00

(0.00%)

FSLR

First Solar

$53.51

-0.42 (-0.78%)

AAPL

Apple

$318.66

3.33 (1.06%)

DQ

Daqo New Energy

$53.61

-0.025 (-0.05%)

03/08/13
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SPOT

Spotify

$148.20

-3.59 (-2.37%)

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Periodicals
Spotify in talks to acquire The Ringer, WSJ reports »

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CE

Celanese

$117.54

-0.53 (-0.45%)

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BYND

Beyond Meat

$109.20

-1.16 (-1.05%)

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DBD

Diebold

$11.09

-0.49 (-4.23%)

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IEF

iShares 7-10 Year Treasury Bond ETF

$111.28

-0.13 (-0.12%)

, SHY

iShares 1-3 Year Treasury Bond

$84.73

-0.005 (-0.01%)

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IEF

iShares 7-10 Year Treasury Bond ETF

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SHY

iShares 1-3 Year Treasury Bond

$84.73

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SPY

SPDR S&P 500 ETF Trust

$331.98

1.08 (0.33%)

SLV

iShares Silver Trust

$16.82

0.04 (0.24%)

GLD

SPDR Gold Shares

$146.59

0.29 (0.20%)

FXE

Euro Currency Trust

$105.10

-0.43 (-0.41%)

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UBSFY

Ubisoft

$0.00

(0.00%)

17:32
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Ubisoft to restructure editorial team after difficult 2019, VGC reports »

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IMVT

Immunovant

$17.04

-0.01 (-0.06%)

17:27
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Breaking Syndicate news story on Immunovant »

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TBLT

ToughBuilt

$0.33

-0.0255 (-7.11%)

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MYO

Myomo

$0.32

0.0062 (1.98%)

17:18
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Conference/Events
Myomo to host special shareholder meeting »

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  • 21

    Jan

SRRA

Sierra Oncology

$0.40

-0.02 (-4.76%)

17:14
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Sierra Oncology to host virtual special shareholder meeting »

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  • 21

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SRNE

Sorrento Therapeutics

$4.26

-0.15 (-3.40%)

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Breaking Syndicate news story on Sorrento Therapeutics »

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AKER

Akers Biosciences

$3.45

-0.1 (-2.82%)

17:01
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Hot Stocks
Akers Biosciences reaches settlement agreements on two derivative actions »

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ECA

Encana

$4.09

-0.18 (-4.22%)

16:40
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16:40
Hot Stocks
Encana receives court approval for reorganization »

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  • 29

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MBRX

Moleculin Biotech

$0.96

0.0122 (1.29%)

16:38
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Breaking Syndicate news story on Moleculin Biotech »

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VOD

Vodafone

$20.07

-0.225 (-1.11%)

, BT

BT Group

$0.00

(0.00%)

16:37
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01/17
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16:37
Periodicals
BT, Vodafone consider urging PM Johnson not to ban Huawei in U.K., Reuters says »

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VOD

Vodafone

$20.07

-0.225 (-1.11%)

BT

BT Group

$0.00

(0.00%)

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16:30
01/17/20
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16:30
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16:30
Options
Preliminary option volume of 28.7M today »

Preliminary option volume…

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