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Fly News Breaks for March 3, 2020
Mar 3, 2020 | 06:30 EDT
Stocks across Medical Technology and Devices have pulled back due to fears over the coronavirus, with multiples back in-line with three-year averages, Piper Sandler analyst Matt O'Brien tells investors in a research note. In the analyst's coverage, Align Technology (ALGN) and Merit Medical (MMSI) have the most revenue exposure to China, with DexCom (DXCM) and Globus Medical (GMED) among the least exposed large and mid cap names, respectively. The names O'Brien would own, specifically related to the impact of coronavirus on their stock price, are Boston Scientific (BSX), Globus Medical and Tela Bio (TELA) in large, mid-, and small-cap med tech.
News For BSX;ALGN;MMSI;DXCM;GMED;TELA From the Last 2 Days
May 17, 2022 | 06:24 EDT
Citi analyst Joanne Wuensch lowered the firm's price target on Boston Scientific to $47 from $52 and keeps a Buy rating on the shares. Market multiples are contracting due to higher inflation, slowing growth, and rising interest rates, Wuensch tells investors in a research note. What we don't know yet is how far the derating will go and where does medical technology shake out, balancing an elective procedure recovery with macro headwinds, says the analyst. "When is the right time to catch a falling knife? If recent history is any suggestion, the answer could be 'soon,'" writes Wuensch.