ReWalk Robotics (RWLK) Estimates Raised at Jefferies Post Q1

Jefferies analyst Raj Denhoy reiterated a Buy rating and $16 price target on ReWalk Robotics Ltd. (NASDAQ: RWLK) as VA roll-out comes on strong and reimbursement wins continue.

Denhoy commented, "ReWalk's 32 units in 1Q was in-line with our estimates but with a greater contribution from the VA (20 units) than anticipated. The pipeline now stands at 1,056 qualified leads, including 255 new this Q; 94 claims are being actively pursued for commercial reimbursement. ReWalk also received its first comprehensive private coverage policy from a regional payer in the US—a notable development as insurance coverage is the biggest key to continued growth."

The firm raised FY 2016 EPS from ($2.08) to ($1.96) and FY 2017 EPS from ($1.25) to ($1.11).

For an analyst ratings summary and ratings history on ReWalk Robotics Ltd. click here. For more ratings news on ReWalk Robotics Ltd. click here.

Shares of ReWalk Robotics Ltd. closed at $9.80 yesterday.

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