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☆ Post-it maker 3M is in danger of coming unstuck
▼ + stars: | 2023-07-19 | by ( Jeffrey Goldfarb | ) www.reuters.com time to read: +10 min

There will be up to $1.5 billion of costs related to separating the health care business, 3M has said. Its interest cover, after backing out estimated operating income from health care, would fall to about 4 times from 11 times. And its net debt, using all these assumptions and excluding the health care division, would swell to nearly 5 times EBITDA from less than 2 times. Back out $2.5 billion from health care, as estimated by the Morgan Stanley team, and $1.5 billion of capital expenditure costs noted by Wolfe Research. For example, the water settlement, as drafted, only envisions $4.6 billion of outlays through 2025, and the rest over the ensuing 11 years.

Persons: Mike Roman, Roman, Sackler, Johnson, Aearo, ”, Morgan Stanley, Smith, Nephew, Lauren Silva Laughlin, Streisand Neto Organizations: YORK, Reuters, U.S . Environmental, Purdue Pharma’s, Association of Metropolitan Water Agencies, Bayer, Monsanto, Aearo Technologies, Partners, Honeywell International, Siemens, 3M, Refinitiv, Reuters Graphics, Wolfe Research, Thomson Locations: . Oregon, Republic, Corning

Tom Schroeder, the whistleblower accusing Medtronic of a kickback scheme, left, is interviewed by Morgan Brennan, in Kansas City, Missouri. Schroeder said rumors circulated that Medtronic sales representatives were bribing VA staff to purchase an excessive amount of the company's inventory. The veterans hospital purchased more devices than some of the largest veterans medical facilities, according to data the VA's investigation gathered. Medtronic also said that Schroeder has "admitted under oath that he has no firsthand knowledge of any problematic procedure involving Medtronic devices." Douglas Winger, one of the Medtronic sales representatives named as a defendant in Schroeder's lawsuit, won a Medtronic President's Club award in 2016 for his sales.

Persons: Tom Schroeder, Schroeder, Becton Dickinson, Medtronic, Morgan Brennan, Schroder, Boua Xiong, Robert J, texted, Rick Ament, Ament, filet mignon, …, I'm, Brendan Donelon, Donelon, CNBC Donelon, Xiong, Douglas Winger, Winger, Kim Hodgson, Hodgson, Dole, ProPublica, John Laird Organizations: Inc, CNBC, Dole Veterans Affairs Medical Center, Dole VA, Department of Veterans Affairs, United, VA's, Department of Justice, Covidien, Dole, Medtronic, Society for Vascular, Drug Administration, FDA Locations: Kansas, United States, Kansas City , Missouri, Dublin, Ireland, Medtronic's, Wichita ., Dole, Covidien, Medtronic, Dole VA

☆ These medical device makers are driving a 'paradigm' shift in cardiac care, Piper Sandler says
▼ + stars: | 2023-06-19 | by ( Christina Cheddar Berk | ) www.cnbc.com time to read: +3 min

A safer, quicker way to treat some heart arrhythmia cases could be on the horizon, creating an opportunity for medical device companies Boston Scientific and Medtronic, according to Piper Sandler analyst Matt O'Brien. He estimates that Boston Scientific will ring up $454 million in sales by 2025 for its Farapulse catheter. Meanwhile, Boston Scientific shares hit a record high on Friday. BSX YTD mountain Boston Scientific shares have gained more than 17% so far this year. He expects that this could prompt consolidation, providing a way for any larger AF treatment providers that have fallen behind on innovation to catch up.

Persons: Piper Sandler, Matt O'Brien, O'Brien, Medtronic, Medtronic's, Abbott, Johnson Organizations: Boston Scientific, Centers for Disease Control, PFA, Boston, EU Locations: U.S

☆ Here are Tuesday's biggest analyst calls: Nvidia, Tesla, Ford, Wayfair, Coinbase, Disney, PayPal & more
▼ + stars: | 2023-05-30 | by ( Michael Bloom | ) www.cnbc.com time to read: +6 min

Here are Tuesday's biggest calls on Wall Street: Barclays reiterates Tesla as overweight Barclays said the stock is well positioned for more gains. "The dominant narrative ahead for Tesla is one of growth, with expectations for significant volume growth and share gains in the years ahead." Roth MKM upgrades Constellation Brands to buy from hold Roth MKM said it sees the company accelerating market share gains. "As weather warms, we expect the share gains for Modelo Especial and Corona to accelerate. Morgan Stanley upgrades Medtronic to overweight from equal weight Morgan Stanley said in its upgrade of Medtronic that it's turning an operational corner. "

With the end of another earnings season in sight, Wall Street's attention has turned to Washington and the debt ceiling deadline. Republican negotiators on Friday walked out of talks on raising the debt limit , abruptly ending a positive week of discussions that appeared to be leading toward a deal. Democrats and the White House have been pushing for a "clean" hike to the debt limit that would push the next deadline past the 2024 presidential election, while Republicans are pressing for spending cuts. Many investors believe this ongoing game of chicken over the debt limit is largely for show, since the U.S. has never defaulted on its debt obligations. U.S. President Joe Biden hosts debt limit talks with House Speaker Kevin McCarthy (R-CA) and other congressional leaders in the Oval Office at the White House in Washington, U.S., May 9, 2023.

The buyout consortium has turned to other private equity firms to help fund the deal as direct lenders, one of the sources added. There is no certainty that Warburg Pincus and Advent will successfully complete negotiations to acquire the unit and Baxter may still opt to sell to another bidder or keep the business, according to the sources. Baxter, Warburg and Advent did not immediately respond to requests for comment. Baxter's biopharma solutions unit supports drugmakers in the formulation, development and commercialization of drugs typically given by infusion or injection, such as biologics and vaccines. The company said dialysis operations, which are a part of Baxter's renal care unit, had become a drag on its margin.

☆ Wells Fargo upgrades this medical device maker, cites improving industry trends
▼ + stars: | 2023-04-24 | by ( Samantha Subin | ) www.cnbc.com time to read: +2 min

Analyst Larry Biegelsen upgraded the medical device maker to overweight from equal weight in a Sunday note, saying that shares should benefit from improving medtech trends and a "maturing" product pipeline. "We rate MDT Overweight as we believe that the company will benefit as underlying medtech markets improve as staffing shortages ease in major markets," he said. Within the company's product pipeline, Biegelsen sees the biggest potential upside from the U.S. Food and Drug Administration's approval of its upgraded insulin pump known as 780G. According to Biegelsen, Medtronic's valuation also looks attractive, trading at a sharp discount to peers. "We believe once MDT moves past its FY2024 guidance in May, the stock can re-rate on the overall medtech recovery and product pipeline," he wrote.

☆ Here are Monday's biggest analyst calls: Apple, Amazon, Chipotle, Ford, Disney, Nvidia, Sunrun & more
▼ + stars: | 2023-04-24 | by ( Michael Bloom | ) www.cnbc.com time to read: +6 min

"We upgrade ALLY to Neutral (from Underperform) and raise our PO to $28 from $24, implying ~8% upside potential." Goldman Sachs reiterates Apple as buy Goldman said in its Apple earnings preview note that "solid iPhone demand to offset Mac weakness." Wells Fargo names Disney a top pick in media Wells said in a note on Monday that Disney is the "best opportunity in media." JPMorgan reiterates Ford & General Motors as overweight JPMorgan said in an earnings preview note that it's standing by both automakers heading into earnings tomorrow for GM and next week for Ford . Mizuho initiates Tencent Music Entertainment as buy Mizuho said in its initiation of the China music company that the stock has upside potential. "

☆ Intuitive Surgical beats first-quarter sales on higher procedure volumes
▼ + stars: | 2023-04-18 | by ( Sriparna Roy | ) www.reuters.com time to read: +2 min

April 18 (Reuters) - Intuitive Surgical Inc (ISRG.O) beat estimates for first-quarter sales on Tuesday as the surgical robot maker recorded a rise in total procedure volumes. The company reported quarterly sales of $1.70 billion, beating analysts' estimates of $1.60 billion, according to IBES Refinitiv data. The medical device maker posted a 26% growth in procedure volumes of its surgical robot da Vinci in the first quarter through March from a year earlier. Investors are eyeing the launch of company's new multiport surgical robot, which could be a potential near-term catalyst, analysts said after Intuitive in January told its next generation system is not expected to be launched this year. Excluding items, Intuitive earned $1.23 per share in the first quarter, above analysts' average estimate of $1.20 per share, according to IBES data from Refinitiv.

☆ Here are Wednesday's biggest analyst calls: Micron, Meta, McDonald's, Tesla, Apple, Amazon & more
▼ + stars: | 2023-03-29 | by ( Michael Bloom | ) www.cnbc.com time to read: +6 min

Goldman Sachs upgrades Hartford to buy from neutral Goldman the insurance company could "surprise to the upside." Goldman Sachs upgrades Marathon Petroleum to buy from neutral Goldman said the petroleum company has a "best-in-class capital returns story." Bernstein reiterates Apple as market perform Bernstein said it's standing by its market perform rating after Apple debuted Apple Pay Later on Tuesday. Guggenheim reiterates McDonald's as buy Guggenheim says it sees "substantial" near-term and long-term upside for McDonald's. Goldman Sachs reiterates Regions Financial and Fifth Third as buy Goldman said in a note Wednesday that several regional banks are key beneficiaries of the larger bank fallout.

☆ Exclusive: ICU Medical to compete against GE Healthcare for Medtronic units -sources
▼ + stars: | 2023-03-29 | by ( David Carnevali | ) www.reuters.com time to read: +2 min

GE Healthcare and private equity firms Carlyle Group Inc (CG.O) and Clayton, Dubilier & Rice (CD&R), which have been pursuing rival offers separately, are also through to the second round, the sources added. Carlyle is bidding through its newly formed healthcare investment platform Atmas Health, according to one of the sources. Medtronic has been taking offers for its patient monitoring and respiratory interventions businesses even as it presses on with preparations to spin them off to its shareholders. ICU Medical, GE Healthcare, Carlyle and CD&R declined to comment. The patient monitoring technology portfolio includes Nellcor pulse oximetry and BIS brain monitoring, while the respiratory interventions business comprises ventilators and breathing systems.

☆ What are dual-class shares and why do they matter for investors like us?
▼ + stars: | 2023-03-13 | by ( Paulina Likos | ) www.cnbc.com time to read: +10 min

Alphabet (GOOGL), Meta Platforms (META), Ford Motor (F) and Estee Lauder (EL) are the four Club holdings that maintain a dual-class structure. Dual-class stock structures generally designate shares as part of Class A or Class B, with one carrying more weight than the other. Google Co-founders Sergey Brin and Larry Page took their nascent firm, now Alphabet, public in 2004 with a dual-class stock structure. Advantages A dual-class structure allows founders, C-suite executives or key investors to maintain control and execute their long-term vision for the business. Bottom line Dual-class shares are not ideal, but they're not a deal breaker either.

☆ Factbox: Neuralink, other brain-chip makers face long road to FDA approval
▼ + stars: | 2023-03-02 | by ( Marisa Taylor | ) www.reuters.com time to read: +2 min

March 2 (Reuters) - Neuralink, founded in 2016, has yet to receive FDA approval to test its brain chip in humans. It received U.S. approval for human testing in July 2021, five years after applying to the U.S. Food and Drug Administration (FDA). NEUROPACENeuroPace (NPCE.O), founded in 1997, didn’t secure FDA approval for its brain implant to treat epilepsy until 2013. BLACKROCK NEUROTECHBlackrock Neurotech, established in 2008, has tested its brain implant in humans for almost two decades. The company had hoped to secure approval to commercialize the implant from the FDA by last year but is still working on it, according to the company.

☆ These 13 beaten-down stocks offer a 'margin of safety' from a possible credit shock, according to a top-1% fund manager
▼ + stars: | 2023-02-28 | by ( James Faris | ) www.businessinsider.com time to read: +7 min

Higher-than-anticipated interest rates could lead to economic pain and even a credit shock. Top-1% fund manager James Abate explained why he hasn't given up on stocks yet. Here are 13 value stocks to buy in this shaky environment, according to Abate. Leading fund manager James Abate isn't predicting a repeat of the financial crisis, but he is worried that banks could get their biggest test in years if interest rates keep rising. While nothing is guaranteed in markets, Abate said that 2023 will provide many opportunities for fund managers like him to outperform.

Feb 21 (Reuters) - Medtronic Plc (MDT.N) said on Tuesday it expects inflation in various markets to hit its profit in the next fiscal year after the medical device maker beat earnings estimate for the third quarter on strong demand for its heart and diabetes devices. While inflation in many countries has eased in recent months, the management expects a delayed improvement in its earnings as its costs remain high. "VBP has affected us more than many of our competitors, given the size and breadth of our business in China. Stifel analyst Rick Wise expects Medtronic to get past pricing pressure in China in "the not too distant future". Reporting by Leroy Leo and Mariam E Sunny in Bengaluru; Editing by Maju SamuelOur Standards: The Thomson Reuters Trust Principles.

☆ Warren Buffett is missing out on this year’s market comeback
▼ + stars: | 2023-02-19 | by ( Paul R. La Monica | ) edition.cnn.com time to read: +8 min

But the Oracle of Omaha has missed out on this year’s stock market rally. Buffett, in fact, has promoted that idea to investors many times, arguing that most individual stock pickers will not be able to beat the market. And to his credit, that usually pays dividends: Berkshire stock was up 3% last year in a down market. “High rates of inflation create a tax on capital that makes much corporate investment unwise,” Buffett said in his 1980 shareholder letter to Berkshire investors. Investors will get several more clues about consumer spending this week when several top retailers report earnings.

☆ The Fed’s favorite inflation gauge will be the big market hurdle of next week
▼ + stars: | 2023-02-18 | by ( Zev Fima | ) www.cnbc.com time to read: +7 min

Most important this week is Friday's core personal consumption expenditure (PCE) price index for January. In comparison, the consumer price index (CPI), released this past week, only tracks price changes over time. The market is expecting the core PCE price index to rise 0.4% monthly and 4.9% annually. In addition to the core PCE price index, we're going to be looking closely at the housing and utilities component. Lastly, the January producer price index came in hotter than expected, rising 0.7% from December versus expectations for 0.4% increase.

Lawrence Elbaum, co-head of law firm Vinson & Elkins' shareholder activism practice, said investors were looking for value-boosting strategies that do not require much funding in a difficult market. Deka Investment, which has around 367 billion euros ($392 billion) in assets under management and holds stakes in most major German corporations, has repeatedly called out German companies for structural weaknesses. Germany's blue-chip DAX 30 index (.GDAXI) put in the worst performance of any major European stock market in the past year, rising just 2%. Joe Kaeser, supervisory board chairman of Siemens Energy (ENR1n.DE), said the United States was much more advanced, and also more successful, in the field of shareholder activism. As CEO of conglomerate Siemens AG from 2013 until 2021, he engineered one of Germany's most successful corporate break-ups, separately listing Siemens Energy and Siemens Healthineers (SHLG.DE) and merging Siemens's wind unit with Spain's Gamesa.

☆ Globus Medical's $3 bln deal for NuVasive to fortify spinal business spooks investors
▼ + stars: | 2023-02-09 | by ( Raghav Mahobe | ) www.reuters.com time to read: +2 min

Feb 9 (Reuters) - Globus Medical Inc (GMED.N) said on Thursday it would acquire peer NuVasive Inc (NUVA.O) in an all-stock deal valued at about $3 billion to build scale in the competitive market for spinal devices. NuVasive shareholders will receive 0.75 of Globus shares, implying a per-share offer of $57.72 and a premium of about 26% to Wednesday's close. Shares of Globus Medical fell more than 17%, with analysts raising concerns around deals in spinal device space. "We both have very rich product portfolios to still develop," said Globus Medical Chief Executive Officer Daniel Scavilla. NuVasive shareholders will own about 28% of the combined company, while Globus shareholders will own the rest.

Feb 9 (Reuters) - A unit of medical device maker Medtronic plc (MDT.N) must pay $106.5 million to competitor Colibri Heart Valve LLC for patent infringement, a Santa Ana, California federal jury said Wednesday. The jury concluded after a seven-day trial that Medtronic CoreValve LLC's Evolut devices violate a Colibri patent for replacing heart valves in patients with heart disease, representatives for the companies confirmed Thursday. A spokesperson for Medtronic said the Minneapolis-headquartered company strongly disagrees with the verdict and will appeal. It alleged doctors use Medtronic's devices in a way that infringes Colibri's patent, which covers a method for controlling the deployment of self-expanding artificial heart valves. The case is Colibri Heart Valve LLC v. Medtronic CoreValve LLC, U.S. District Court for the Central District of California, No.

☆ Globus Medical to buy NuVasive in deal valued at about $3 billion
▼ + stars: | 2023-02-09 | by ( ) www.reuters.com time to read: +1 min

Feb 9 (Reuters) - Device maker Globus Medical Inc (GMED.N) said on Thursday it was acquiring peer NuVasive Inc (NUVA.O) in an all-stock deal valued at about $3 billion to increase its scale in the competitive surgical space. NuVasive shareholders will receive 0.75 of Globus' share, which implies a stock price of $57.72 for NuVasive, representing a premium of about 26% to its last close. The company reported sales of $896.5 million for the first nine months of 2022. It reported sales of $748.3 million for the first three quarters of last year. Following the close of the transaction, NuVasive shareholders will own about 28% of the combined company, and Globus Medical shareholders will own around 72%.

☆ Stocks sizzled in January as rate hike and inflation fears ebbed
▼ + stars: | 2023-01-31 | by ( Paul R. La Monica | ) edition.cnn.com time to read: +3 min

New York CNN —New year, new attitude on Wall Street. Wall Street is also eagerly awaiting earnings from four key Nasdaq-listed giants later this week: Facebook owner Meta Platforms, Apple (AAPL), Amazon (AMZN) and Google parent Alphabet (GOOGL). Stocks have rallied this month due to hopes that inflation pressures are starting to abate. That should allow the Fed to issue smaller rate increases – and possibly even pause them later this year. Others argue that the Fed is likely to keep raising rates until it is certain inflation is no longer a problem.

☆ Morningstar: Buy these 10 cheap, high-quality stocks that pay a healthy dividend to help offset stock market losses and slowing economic growth
▼ + stars: | 2023-01-24 | by ( Lisa Kailai Han | ) www.businessinsider.com time to read: +3 min

Dividend stocks may take center stage during rough economic conditions in 2023. Morningstar's Dave Sekera recently listed 10 cheap, high-quality dividend-paying stocks to buy now. As equity valuations slumped into an official bear market last year, high-quality dividend-paying stocks took center stage to rise above their more speculative peers. According to Morningstar chief US market strategist Dave Sekera, it's no coincidence that dividend stocks stole the show in 2022. 10 high-quality dividend payersIn the video, Sekera identified 10 high-quality stocks that are currently trading below their fair values, have high upside potential, and have a "relatively decent or healthy" dividend yield payout.

☆ Medical device stocks tend to beat the market, and analysts expect these names to see big gains
▼ + stars: | 2023-01-23 | by ( Bertha Coombs | ) www.cnbc.com time to read: +4 min

Medical device makers, like many manufacturers, have faced challenges over the last year from inflationary supply chain costs, staffing shortages and the strong dollar impacting sales overseas. However, since 2007 the device sector ETF has averaged a gain of 14% per year, 6 percentage points better than the broader market index over the same period. More than 60% of analysts rate the shares a buy, with a mean price target implying 34% upside. Nearly 90% of analysts rate the stock a buy, with mean price target of $53, implying more than 30% upside. BTIG analysts Marie Thibault and Ryan Zimmerman think that M & A could be another catalyst for the medical device sector in 2023, with robotic surgery players likely to be of particular interest.

☆ Baxter International plans to spin off kidney care units
▼ + stars: | 2023-01-06 | by ( ) www.reuters.com time to read: +2 min

Jan 6 (Reuters) - Baxter International Inc (BAX.N) said on Friday it plans to spin off its kidney care units, becoming the latest medical device maker to slim down in the face of supply-chain challenges. The company plans to spin off its renal care and acute therapies units into a separate listed entity in the next 12-18 months. Dialysis operations, which are a part of Baxter's renal care unit, are a drag on the parent company's margins today, said Chief Financial Officer James Saccaro. For the nine months ended Sept. 30, the renal care unit reported sales of $2.77 billion, down from $2.87 billion the previous year. The acute therapies unit posted sales of $519 million, declining from $580 million a year ago.

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