Wedbush Initiates Coverage on ZOLL Medical (ZOLL) with an Outperform; A World Leader in Non-invasive Resuscitation Devices

November 12, 2009 8:53 AM EST

Wedbush initiates coverage on ZOLL Medical Corp. (Nasdaq: ZOLL) with an Outperform. Price target $31.

Wedbush analyst says, "ZOLL is a leading player in the $1.3 billion annual worldwide market for external defibrillators and has been the innovator of a wide variety of product features and capabilities that have emerged as the standard of care in the external defibrillator industry. In our opinion, ZOLL maintains a technology leadership position in the core external defibrillator market. The company is also expanding its product offerings to position itself for better long-term growth. ZOLL’s product mix now includes several products that place the company at the cutting edge of resuscitation and critical care medicine, including EMS data management, automated CPR, wearable defibrillators, and patient temperature control."

"We see little risk to ZOLL from No. 1 rival’s recent stirring: Medtronic’s Physio Control (NYSE: MDT) division, the No. 1 player in the external defibrillation market, has made strides to resolve its long-standing quality control issues and is in the midst of launching two new products. However, we do not believe that Physio will pose any meaningful threat to ZOLL’s business. In our view, Physio’s latest products are not superior to ZOLL’s comparable offerings."

To see more analyst ratings on ZOLL Click Here.

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