Wall Street Beat
NxStage Medical, Inc. (NASDAQ:NXTM) got some more good news out of Wall Street, as investment bank JP Morgan Chase & Co upgraded shares of the Lawrence, Mass.-based dialysis maker.
NxStage Medical Inc. (NSDQ:NXTM) is poised to take a $1 billion bite out of the dialysis market as it drives its share from 1 percent of dialysis patients into double-digit range, according to a Wall Street analyst.
After meeting with the Lawrence, Mass.-based company’s CEO Jeffrey Burbank and investor relations VP Kristen Sheppard last week, Leerink Swann’s Danielle Antalffy wrote in a note to investors that NXTM stock is a smart buy these days.
The SEC charged a personal injury lawyer in California with insider trading, accusing Dean Goetz of stealing confidential information on Abbott’s (NYSE:ABT) $2.8 billion acquisition of Advanced Medical Optics from his daughter, who was a lawyer working for AMO at the time.
The agency accused Goetz of reaping an illegal $11,000 profit trading on AMO stock just before the deal went public in January 2009. Unbeknownst to Goetz’s daughter, working on the deal during the winter holidays at her parents’ house, Goetz allegedly stole the information he used to buy 900 shares of AMO stock on Jan. 8, 2009, according to the SEC.
Masimo Corp. (NSDQ:MASI) chairman and CEO Joe Kiani can safely take his money to the bank, after shareholders rejected a challenge to the chief executive’s compensation package at the company’s annual meeting.
Shareholders voted in favor of the Irvine, Calif.-based patient monitor maker’s salary package by a 2-to-1 margin, despite the urging of a proxy advisory firm.
When medical device goliath Medtronic Inc. (NYSE:MDT) canceled $2 billion worth of supply contracts with group purchasing organization Novation LLC in February, Wall Street analysts speculated that it might be the start of a larger trend of medical device industries bucking GPOs.
Uroplasty Inc. (NSDQ:UPI) beat Wall Street and closed near its all-time high after reporting strong top-line growth for the fourth quarter and full year today.
The board and management of Masimo Corp. (NSDQ:MASI) are battling a proxy challenge ahead of the patient monitoring firm’s annual meeting next week, looking to convince shareholders to approve its executive compensation package.
The Irvine, Calif.-based company’s annual meeting is scheduled for June 1 at the company’s headquarters, where shareholders and their proxies will vote on a slate of five proposals, including the compensation package and another that would maintain the way Masimo selects its board members.
Shares of Boston Scientific Corp. (NYSE:BSX) were up on Wall Street this morning as the company got a rare double dose of good news: Regulatory approval for the next generation of its Promus drug-eluting stent for small blood vessels and a ratings upgrade from investment bank Goldman Sachs.
The Natick, Mass.-based medical device maker said FDA regulators approved its Promus everolimus-eluting coronary stent for use in vessels as small as 2.25mm in diameter. The company said it plans to immediately launch the product in the U.S.