Jefferies Global Life Sciences Conference Takeaways; Diagnostics
Jefferies hosted its Global Life Sciences Conference last week.
Medical devices & diagnostics companies in attendance include:
Inverness Medical Innovations (NYSE: IMA) (Buy, $27.69, PT $40)
Luminex Corporation (NASDAQ: LMNX) (Buy, $17.50, PT $21)
Cepheid (NASDAQ: CPHD) (Buy, $18.28, PT $21)
Genomic Health (NASDAQ: GHDX) (Hold, $14.37, PT $18)
Gen-Probe (NASDAQ: GPRO) (Buy, $45.12, PT $56)
Sequenom (NASDAQ: SQNM) (NC, $6.44)
Exact Sciences Corporation (NASDAQ: EXAS) (NC, $4.49)
Meridian Bioscience (NASDAQ: VIVO) (NC, $17.35)
Most companies were positive about volumes and improving hospital capital spending. A sector-wide concern was a declining Euro and its impact on revenues.
Jefferies concluded, "the conference reaffirmed the generally positive outlook for players in the Diagnostics space, despite some near-term set backs such as the EU economic concerns and a weak upcoming flu season."
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