Medical device makers likely to give conservative outlook in Q1 - SVB Leerink

AtriCure

18/04/2022 17:33

** SVB Leerink believes medical device makers are likely to
be conservative when giving forecasts given the risk of EPS
falling short of expectations beyond Q1 and through 2022
    ** Says it favors small and mid cap companies over large cap
into Q1 as it sees "incremental downside risk to 2022 large-cap
EPS estimates"
    ** Brokerage says companies may point to a recovery in
healthcare procedure volumes in March and believes recent
inflationary pressures on margins are temporary
    ** SVB Leerink says there is limited visibility into any
sales upside, but has highest conviction in companies
undertaking new product launches including AtriCure Inc  ATRC.O 
Procept Biorobotics  PRCT.O  and Shockwave Medical  SWAV.O 
    ** Raises PT on PRCT by $15 to $45, and on SWAV to $250 from
$190
    ** Says it does not expect insulin products makers Dexcom
 DXCM.O  and Insulet Corp  PODD.O  to miss sales estimates in
Q1; hikes PT on DXCM to $565 from $500 and on PODD to $300 from
$275

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