Canaccord Genuity Q4 Med-Tech Preview: Best Ideas (HTWR & EW)

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HTWR Hot Sheet

Rating Summary:
7 Buy, 4 Hold, 3 Sell

Rating Trend: = Flat

Today's Overall Ratings:
Up: 19 | Down: 16 | New: 82

Canaccord Genuity Q4 Med-Tech Preview: Best Ideas by Jason R. Mills

Our best ideas in 2012 (reiterated):

HeartWare (Nasdaq: HTWR)(BUY): Already pre-announced Q4 revenue. HTWR is on the verge of getting its first device approved in the US. We remain long-term bullish on the LVAD space and believe that HTWR is the stock to own.

Edwards Lifesciences (NYSE: EW)(BUY): TAVI stocking could boost Q4. Expect EW to communicate even more confidence in TA approval based on CAP performance.

Separately, Mills listed four companies that could report worse-than-expected Q4 results and/or 2012 guidance

IMRIS (Nasdaq: IMRS)(BUY): No announced bookings during Q4; OUS possible.

LeMaitre Vascular (Nasdaq: LMAT)(BUY): Still going through the transition away from endovascular. We would be buyers on further weakness.

St. Jude Medical (NYSE: STJ)(HOLD): Pre-announced in-line Q4; CRM (50% of sales) continuesto be weak which could cause management to reassess ’12 guidance.

Volcano (Nasdaq: VOLC)(HOLD): Pre-announced lower Q4 revenue owing to lackluster industrial business trends. However, FFR business is performing very well.

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