Olympus, which has a corner on 70% of the endoscope market, was rocked by a $1.7 billion accounting scandal exposed by former CEO Michael Woodford last year.
The high-profile accounting scandal sheared Olympus’ stock value, split its board and executive leaders and launched a slew of regulatory investigations. The company sacked Woodford in mid-October 2011, after only 2 weeks on the job.
BSD Medical re-ups for $50M securities sale
BSD Medical Corp. (NSDQ:BSDM) said it registered to issue up to $50 million in mixed securities with the SEC, but said it has no plans to initiate the offering.
- Abbott (NYSE:ABT): JP Morgan reiterates “neutral” rating, $73 price target.
- Abiomed (NSDQ:ABMD): Sidoti & Co. initiates coverage at Buy rating, $28 price target.
- Baxter (NYSE:BAX): J.P. Morgan & Co. reiterates Overweight rating, raises price target from $63 to 65.
- Boston Scientific (NYSE:BSX): Argus reiterates “hold” rating; Leerink Swann maintains “market perform” rating, $6 price target.
- China Kanghui Holdings (NYSE:KH): Oppenheimer reiterates Outperform rating, raises price target from $26 to $30.75; Canaccord Genuity suspends coverage.
- Edwards Lifesciences (NYSE:EW): Jefferies reiterates Buy rating, increases price target from $115 to $125.
- Medtronic (NYSE:MDT): Piper Jaffray reiterates “overweight” rating; Citigroup reiterates "buy" rating ; Barclays maintains "equal weight" rating, $45 price target; Morgan Stanley reiterates "equal-weight" rating; Sanford C. Bernstein restates "outperform" rating, $46 target price.
- NxStage Medical (NSDQ:NXTM): Feltl & Co. reiterates “hold” rating
At DeviceTalks Boston, Tyler Shultz will give attendees an inside look at Theranos and how he was able to sound the alarm after he realized the company was falling apart. Shultz will take attendees behind the story that everyone is talking about: the rise and fall of Elizabeth Holmes and her diagnostic company, Theranos.
Join Shultz and 1,000+ medical device professionals at the 8th annual DeviceTalks Boston.