Things are looking up for the U.S. orthopedics market, as preliminary results for Biomet Inc.‘s 2nd quarter suggest strong growth in domestic knee and hip devices sales.
Privately held Biomet, considered something of a bellwether for the U.S. orthopedics market, touted 6% year-over-year growth in knees and 8% in hips.
If Biomet’s earnings are indicative of larger trends, the uptick in U.S. orthopedic sales may be accelerating, Leerink Swann analyst Richard Newitter wrote in a note to investors.
Biomet’s U.S. spinal product sales also increased for the 4th straight quarter. The company’s extremities division grew at a double-digit clip, according to the note. European sales, however, declined by 2% compared with the same period last year.
DSM’s $360M buyout of Kensey Nash to close this week
Royal DSM is ready to tie a bow on the $360 million buyout of Kensey Nash (NSDQ:KNSY), advising that the deal may close in the next few days.
Elekta makes moves in Brazil
Swedish radiation therapy devices maker Elekta is making strategic moves in Brazil, including a recent acquisition of Radon Ltda., a linear accelerator service provider. The buyout increases Elekta’s Brazilian customer base by 25%, according to a press release.
- Baxter (NYSE:BAX): Goldman Sachs lifts price target to $64, maintains "buy" rating.
- Edwards Lifesciences (NYSE:EW): Goldman Sachs raises price target from $102 to $109, maintains "buy" rating; Zacks reiterates $102 price target and "neutral" rating.
- Hologic (NSDQ:HOLX): Jeffries maintains "buy" rating and $24 price target; Standard & Poor’s affirms "BB" rating.
- Integra LifeSciences (NSDQ:IART): Argus lifts rating from "hold" to "buy," sets $44 price target.
- NuVasive Inc. (NSDQ:NUVA): Leerink Swann maintains "outperform" rating, raises price target from $22 to $28.