Shares of Intuitive Surgical (NSDQ:ISRG) hit an all-time high yesterday of $529.70 and beat it today, as investors sent the shares to $531.35 apiece this morning.
The spikes followed an upgrade by analysts at Lazard Capital, who raised their price target on the stock to $575 from $525 and reinforced their “buy” rating.
Sunnyvale, Calif.-based Intuitive has been on a tear this year, logging several 52-week highs on the way to this week’s records. ISRG shares were up 13.7% on the year to $526.47 as of the market’s close yesterday.
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“Going forward, a round of upgrades or price-target hikes could help to propel ISRG even higher,” according to Schaeffer’s Trading Floor Blog.
Morgan Keenan: “Business as usual” at TFX after CFO changeover
It’s business as usual for medical device maker Teleflex (NYSE:TFX), despite the abrupt departure yesterday of CFO Randy Meier, according to a Morgan Keenan analyst, who speculates that the shift was due to Meier’s career ambitions.
“Based on our conversation with Benson Smith, Teleflex’s CEO, it appears that the Board has asked Mr. Smith to extend his employment time-line,” the analyst wrote in a research note to clients. “In our opinion, the request by the board regarding Mr. Smith’s tenure was probably not consistent with Mr. Meier’s career aspirations, which drove Mr. Meier’s departure. In addition, we note that Mr. Meier was not Mr. Smith’s hire.”
Is PLC Systems on the auction block (again)?
PLC Systems (OTC:PLCSF) said it hired financial advisory firm Garden State Securities and investor relations managers JFS Investments, possibly signaling its intent to seek a buyout suitor.
The Milford, Mass.-based company makes the RenalGuard system, designed to prevent contrast-induced nephropathy – the device uses a sterile saline solution to eliminate iodine-based contrast agents used during cardiac catheterization procedures for patients with poor renal function.
It’s not the first time PLC has sought the proverbial strategic alternative. In 2010, the company tapped Natixis Bleichroeder to help it raise capital and to look for alternatives ranging from a technology licensing deal to an outright sale.
In return for their services, Garden State and JFS Investments will each receive up to 1.25 million in PLCSF shares, according to an SEC filing. The company said it issued 625,000 shares to fulfill the first stage of the deal. Read more
BBK’s Capinnova picks up a stake in Saudi device maker
Bahrain-based Capinnova, billed as “the Shari’a compliant investment banking arm of BBK,” bought a $22 million stake in SMMP, or the Saudi Mais Co. For Medical Products. Read more
Devicor Medical inks distribution deal
Devicor Medical Products signed a distribution deal with Carbon Medical Technologies giving it the exclusive right to market the latter’s new beta-glucan tissue marker with its Mammotome breast biopsy device. Read more
Orgenesis buys insulin cell regeneration tech
Orgenesis (OTC:ORGS) bought an exclusive license to develop and market functional autologous insulin producing cells regeneration technology created by Tel Hashomer – Medical Research, Infrastructure and Services Ltd. Read more
- NeuroMetrix redeems warrants
- DJO Global to offer $250M in senior notes
- “Big data” HIT startup Health Care DataWorks aims to raise $3M
Analysts’ ups and downs
- NxStage Medical (NSDQ:NXTM): Leerink Swann maintains “outperform” rating, $25 price target.
- Rockwell Medical (NSDQ:RMTI): Stifel Nicolaus initiates coverage with “buy” rating, $15 price target.
- Solta Medical (NSDQ:SLTM): Morgan Keegan upgrades rating from “market perform” to “outperform,” raises price target from $3.50 to $3.75.
- Teleflex (NYSE:TFX): Morgan Keegan maintains “market perform” rating, upgrades price target from $58 to $60.
- Zoll (NSDQ:ZOLL): Dougherty & Co. downgrades from “buy” to “sell,” raises price target from $82 to $93.
