Friday, January 04, 2008

Inverness Medical (NYSE:IMA): Reiterate Buy and $90 tgt - Jefferies

- Jefferies is out with a good call on Inverness Medical (NYSE:IMA) noting that since the recent secondary offering, IMA common has declined ~11% without any changes in business fundamentals. They believe that the sell off has been unwarranted and that positive catalysts including CMS's proposal to expand home anticoagulation testing and strong 4Q07 results should drive the stock higher near term.

Finalization of this proposal will expand the home anticoagulation market substantially as atrial
fibrillation and venous thrombosis patients significantly outnumber patients with mechanical heart valves. Firm expects a confirmatory final national coverage determination in March 2008 (which should prove to be a very positive catalyst for IMA).

Based on recent checks, they believe 4Q trends were strong and integration of BSTE/CTEC/HEM continues to progress seamlessly. Jeffco expects the company to report results exceeding both their estimates and 'Street'expectations.

Reiterates Buy and $90 tgt.

Notablecalls: This is a wonderful call by Jeffco's Mark Richter. We have a clear n-t catalyst, positive checks and a huge price tgt. IMA's worth a bounce here!


bl said...

That sure perked up. Nice rally

notablecalls said...


An excellent call by Jeffco. I wish there were more like this one.