Barclays Maintains an 'Overweight' on Covidien Ltd (COV); Acquires BARRX Medical; Promising Energy Tuck-in
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Price: $106.71 --0%
Rating Summary:
9 Buy, 8 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 6 | New: 26
Rating Summary:
9 Buy, 8 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 6 | New: 26
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Barclays maintains an 'Overweight' on Covidien Ltd (NYSE: COV) price target of $63.00.
Barclays analyst says, "COV announced it would acquire BARRX Medical for ~$325 million (plus potential future earn-outs). The transaction is expected to close in January 2012 and COV noted that it would not have a material impact on FY12 sales, operating margin, or EPS (ex-items)...Key Points on BARRX and Market Potential: 1) BARRX is a leader in the high teens growth market for the treatment of Barrett's Esophagus, a precursor to esophageal cancer. 2) Guidelines are increasing acceptance of Endoscopic Ablation for the treatment of Barrett's Esophagus. 3) Clinical data is strong and the company's HALO products are cleared in the US and Europe. 4) There are six ongoing clinical trials aimed at expanding HALO use in other disease states, along with 65 peer-reviewed publications and strong society support."
For an analyst ratings summary and ratings history on Covidien Ltd click here. For more ratings news on Covidien Ltd click here.
Shares of Covidien Ltd closed at $44.51 yesterday.
Barclays analyst says, "COV announced it would acquire BARRX Medical for ~$325 million (plus potential future earn-outs). The transaction is expected to close in January 2012 and COV noted that it would not have a material impact on FY12 sales, operating margin, or EPS (ex-items)...Key Points on BARRX and Market Potential: 1) BARRX is a leader in the high teens growth market for the treatment of Barrett's Esophagus, a precursor to esophageal cancer. 2) Guidelines are increasing acceptance of Endoscopic Ablation for the treatment of Barrett's Esophagus. 3) Clinical data is strong and the company's HALO products are cleared in the US and Europe. 4) There are six ongoing clinical trials aimed at expanding HALO use in other disease states, along with 65 peer-reviewed publications and strong society support."
For an analyst ratings summary and ratings history on Covidien Ltd click here. For more ratings news on Covidien Ltd click here.
Shares of Covidien Ltd closed at $44.51 yesterday.
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