UPDATE: H.C. Wainwright Downgrades Itamar Medical (ITMR) to Neutral

H.C. Wainwright analyst Raghuram Selvaraju downgraded Itamar Medical (NASDAQ: ITMR) from Buy to Neutral, PT $31.00 (from $36.00).

The analyst comments "In a press release yesterday, ZOLL Medical Corporation—an Asahi Kasei company that manufactures medical devices and related software solutions—and Itamar Medical announced that the two companies have signed a definitive agreement under which ZOLL Medical will acquire all outstanding ordinary shares of Itamar for a total value of approximately $538M. This implies a buyout price of $31 per American Depositary Share (ADS). The offer of $31 per ADS in cash represents a premium of 50.2% over the price of Itamar Medical’s ADSs on the Nasdaq Stock Market on September 10 2021. We are downgrading our rating on Itamar to Neutral from the prior Buy and decreasing our price target to $31 vs. the previous $36 per share."

For an analyst ratings summary and ratings history on Itamar Medical click here. For more ratings news on Itamar Medical click here.

Shares of Itamar Medical closed at $30.25 yesterday.

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