Jefferies Has Buy On ZOLL Medical

Jefferies & Co. is out with a research report on ZOLL Medical Corp. (NASDAQ: ZOLL) and it is reiterating its Buy rating and $70 price target.

In a note to clients, Jefferies & Co. writes, "ZOLL's 10Q disclosed the issuance of a draft coverage revision which would limit Medicare reimbursement for LifeVest; the proposed revision would prohibit use of LifeVest during ICD waiting periods. As it is used primarily during waiting periods to protect at-risk patients, a reconsideration of this reimbursement is troubling but also not well supported by current clinical practice. A change in reimbursement policy appears unlikely."