Collins Stewart Raises Price Target on Kinetic Concepts (KCI), Tops Firms NPWT Survey

Collins Stewart is maintaining their Buy rating on shares of Kinetic Concepts (NYSE: KCI) following a survey of 41 US wound care clinicians that the firm conducted to assess market share trends in the Negative Pressure Wound Therapy (NPWT) market.

The survey reported that KCI's sales and service team scored very well among clinicians and as a result the firm is raising their price target to $60 from $55.

100% of the clinicians surveyed indicated interacting with their KCI reps, while only 79% of clinicians had not interacted with their Smith & Nephew (NYSE: SNN) NPWT rep. The firm stated that other NPWT manufacturers had even fewer interactions with the clinicians.

The firm believes that as US hospital patient volumes improve and the macroeconomic environment gets better, hospitals should also experience incremental NPWT growth. Approximately 40% of the clinicians surveyed indicated that the economy had negatively impacted NPWT utilization.

For more ratings news on Kinetic Concepts click here and for the rating history of Kinetic Concepts click here.

Shares of Kinetic Concepts closed at $52.35 yesterday.

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