UPDATE: Stifel Nicolaus Initiates Conceptus at Buy on Barrier Removal Outlook

Stifel Nicolaus initiated coverage on Conceptus

with a Buy rating and a $22.17 price target. Stifel Nicolaus noted, "We asked doctor contacts about the biggest obstacles to greater Essure adoption. The two most frequently cited answers were insurance/cost and poor compliance with hysterosalpingogram ("HSG") confirmation test. Due to the Affordable Care Act (ACA), insurance/cost issues are in the midst of being removed. The HSG is being addressed via a recently initiated clinical trial and, if successful, will be removed in 2015-2016. In the international business, France's favorable UNCAM insurance reversal should help reinvigorate European growth rates." Conceptus closed at $22.17 on Wednesday.