Delta variant concerns could threaten recovery for medical device cos- BTIG

AtriCure

20/07/2021 13:24

** BTIG says near-term concerns, such as the impact of the
Delta variant on economic recovery, may indicate that pandemic
worries are not over for medical device makers
    ** Brokerage says it is unsure if the companies would be
inclined towards raising estimates in Q2, adding that they are
likely to provide greater clarity on their position once the
quarter is over
    ** Expects a beat from Inari Medical  NARI.O , AxoGen
 AXGN.O , Misonix Inc  MSON.O  and Neuronetics  STIM.O  
    ** Says has little expectation from Tactile Systems
Technology  TCMD.O  in the qtr, and that Hologic  HOLX.O  needs
to reset its 2022 profit forecast; brokerage recommends buying
on share weakness for both
    ** Believes Masimo Corp  MASI.O  and Dexcom  DXCM.O  could
post solid beats, but cautions that investor expectations have
risen considerably with stock prices
    ** Makes PT changes on a number of companies
    
 Company name       Previous    Current PT 
                    PT          
 Abbott             $120        $126
 Laboratories                   
  ABT.N                         
 Acutus Medical     $26         $25
 Inc  AFIB.O                    
 AtriCure Inc       $76         $86
  ATRC.O                        
 Boston Scientific  $48         $50
  BSX.N                         
 Globus Medical     $81         $83
  GMED.N                        
 Hologic Inc        $91         $82
  HOLX.O                        
 Medtronic  MDT.N   $135        $137
 Misonix  MSON.O    $23         $26
 OrthoPediatrics    $65         $67
 Corp  KIDS.O                   
 Penumbra Inc       $291        $299
  PEN.N                         
 Stryker Corp       $275        $282
  SYK.N                         
 ViewRay Inc        $7          $8
  VRAY.O                        
 
    

 (Reporting by Amruta Khandekar)
 ((Amruta.Khandekar@thomsonreuters.com;))