The Massachusetts device maker has had a very strong year, having opened at $5.86 on the morning of January 2. That puts the company at a 34% increase for the year so far, with shares closing at $7.86 today.
The Wall Street trend bodes well for the company in its self-proclaimed "new era" under the leadership of Michael Mahoney, who officially took the CEO title in November 2012.
SEC OKs corporate announcements via social media
As long as shareholders are informed of the channels, companies are welcome to use social media outlets such as Facebook or Twitter to disseminate updates to their investors.
Cambridge Heart delays its annual report
Medical device maker Cambridge Heart reported that it wasn’t able to complete its 10-K annual fiscal report by its due-date at the start of the month, and it doesn’t expect to complete its report within the 10-day period to avoid default under the terms of its secured convertible promissory notes.
The delay will mean that the company will forfeit use of its Registration Statement and it expects the suspension to last longer than 22 days, which means Cambridge Heart will have to pay liquidated damages to its shareholders.
The company also failed to make promised interest payments on notes due Dec. 31, 2012, and March 31, 2013, giving note holders the right to demand full payment of all principal and interest due on the notes if the company fails to get back on track within the default grace period.
Neurostim devices maker lands $4M
San Diego neurostimulation implants maker Imthera Medical closed a $4 million equity financing rounds provided by 1 investor, in support of the company’s sleep apnea devices. Read more
Organovo shifts fiscal year
California 3D bioprinting technology maker Organovo Holdings (PINK:ONVO) announced that it has shifted the end of its fiscal year from December 31 to March 31, with the new fiscal year beginning April 1, 2013.
- Becton Dickinson & Co. (NYSE:BDX): Macquarie reissues "neutral" rating, $98 price target.
- Boston Scientific (NYSE:BSX): Zacks Equity Research reinstates “neutral” rating
- Insulet (NSDQ:PODD): Oppenheimer raises price target from $24 to $28; “outperform” rating
- Intuitive Surgical (NSDQ:ISRG): TheStreet reiterates “buy” rating
- Kimberly-Clark (NYSE:KMB): BMO Capital Markets downgrades from “market perform” to “underperform” rating, raises price target from $83 to $92.
- Smith & Nephew (FTSE:SN, NYSE:SNN): Numis Securities restates “add” rating
- Zimmer (NYSE:ZMH): Credit Suisse reiterates “neutral” rating, raises price target from $79 to $80.