Wall Street analysts are predicting with increasing confidence that the U.S. orthopedics market is on the upswing following an industry survey suggesting a coming increase in procedure volumes.
A MEDACorp orthopedics survey of 65 U.S. hip and knee surgeons found improvements in 12-month procedure volume expectations and increased patient willingness for surgery, according to an investment note from Leerink Swann analyst Richard Newitter.
"While not a definitive ‘inflection point,’ the results seem to suggest improving, not just ‘stabilizing,’ U.S. ortho recon volume trends," Newitter wrote.
Taken together with ortho bellwether Biomet Inc.‘s positive 2nd-quarter preliminary results, Leerink forecast a growing orthopedic reconstructive market this year, suggesting that its previous 2012 hip and knee estimates may be "conservative."
Still, the research firm maintained its previous 2.8% growth projection due to uncertainty about the European economic environment, Newitter added.
Infraredx, Nipro sign exclusive $50M imaging system contract
Burlington, Mass.-based vascular disease diagnostics company Infraredx signed an exclusive 5-year agreement allowing Nipro Corp. to distribute the TVC intravascular imaging system in Japan.
Infraredx will receive a minimum of $50 million over the duration of the contract and Nipro will take responsibility for obtaining regulatory approval for the system.
GE Healthcare expands program to bump recurring revenues in Asia Pacific
GE Healthcare (NYSE:GE) expanded its partnership with San Francisco-based ServiceSource to boost renewal of recurring service contracts for medical equipment in Asia-Pacific.
Accuray and Erasmus sign multi-year research agreement
Sunnyvale, Calif.-based Accuray (NSDQ:ARAY) signed a multi-year research and collaboration agreement with Netherlands-based Erasmus Medical Center to advance technologies in radiation oncology.
Edwards Lifesciences hits another 52-week high
Edwards Lifesciences (NYSE:EW) briefly hit a new high-water mark of $104.25 on June 19 on the way to closing at $102.48. Shares have been dancing pushing upward of $100 since an FDA panel’s near-unanimous recommendation to expand approval of its Sapien transcatheter heart valve. EW shares were trading at $101.90 as of about 3:20 p.m. today.
- Edwards Lifesciences (NYSE:EW): UBS AG downgrades from a "buy" rating to a "neutral" rating
- Intuitive Surgical (NSDQ:ISRG): Zacks downgrades from "outperform" to "neutral" rating, maintains $578 price target
- Insulet (NSDQ:PODD): Oppenheimer maintains "outperform" rating and $24 price target
- Mindray (NYSE:MR): Credit Suisse reiterates "outperform" rating, increase price target from $24 to $35
- St. Jude Medical (NYSE:STJ): Cannacord Genuity increases price target from $45 to $50, maintains "buy" rating
- Stryker (NYSE:SYK): Leerink Swann maintains "outperform" rating and $67 price target
- Varian Medical (NYSE:VAR): Nomura opens with "buy" rating and $70 price target
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