ETRM, MDT and OPK Rated by Street-Wire as Industry Players Look to Slash Costs

One of the most controversial features of President Obama's Affordable Care Act (ACA) has been the 2.3% tax on gross sales that medical equipment & appliances will have to pay. The tax became effective at the start of this year despite calls from the industry that it would increase costs and hurt research and development spending. However, those for ACA say that the additional insured individuals will boost sales of medical devices, which would more than offset the increase in costs for medical devices companies such as EnteroMedics Inc. (NASDAQ:ETRM), Medtronic Inc. (NYSE:MDT) and Opko Health Inc. (NYSE:OPK). The key for these companies will be to reduce expenses in other areas of their businesses. Street-Wire.com has added ETRM, MDT and OPK this morning to their Daily Rating Watch List. Rating can mean a number of things for investors and we encourage all shareholders to sign up to speak to a member of our research team today at

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The Sell-Off in EnteroMedics Shares

Last Friday, EnteroMedics shares plunged more than 55% after the company said that its key electric shock device for weight loss failed to meet its primary goal in a clinical trial. However, the company plans to move ahead with seeking regulatory approval. ETRM has come under our radar and we have issued a new rating for this equity. Sign up for free below to find out more.

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On Monday, ETRM shares pared some of the losses from Friday. The stock rose 3.17% to finish the day $1.30 on above average volume of 2.56 million. ETRM shares fell below some key technical levels as a result of the sell-off last week. Market sentiment remains bearish on the stock. ETRM could remain under pressure in the next few days.

Medtronic Receives CE Mark for Evera(R) Portfolio of Implantable Cardioverter-Defibrillators

Last week, Medtronic announced CE Mark of the Evera(R) portfolio of implantable cardioverter-defibrillators (ICD). Evera ICD is not yet approved in the U.S. Meanwhile, investors are waiting for Medtronic's third quarter fiscal 2013 financial results, which will be released on next Tuesday, February 19, 2013. MDT has met 7 out of 10 characteristics we look for when rating an equity. Register now for free below to find out more.

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Medtronic shares ended marginally higher on Monday. The stock closed 0.25% higher at $47.22, which is a 52-week high for the stock. MDT shares have had an excellent run since the start of this year. Year-to-date, the stock has gained more than 15%, outperforming the broad market. With the stock breaking through $47 resistance level, the upward trend is likely to continue.

 

Opko Health Shares Rise Sharply

On Monday, shares of Opko Health Inc. rose sharply, ending the day 3.54% higher at $6.72 on above average volume of 3.18 million. OPK shares have also had an excellent run this year, gaining nearly 40%. However, the stock has been struggling to break through $7 level in the last few trading sessions. If OPK can break through this level then the upward trend could continue. The stock is currently trading well above its 50-day and 200-day moving averages. OPK has met 8 out of 10 characteristics we look for when rating an equity. Sign up for free below to find out more.

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Last month, Opko Health had announced the expansion of its collaboration with Bristol-Myers Squibb Company relating to its diagnostic test technology.

 

Disclaimer:SWire News Media is not a registered investment advisor, and nothing in this report is intended as a solicitation to buy or sell any security. A third party, www.street-wire.com has paid SWire News Media four hundred and fifty dollars for the publication of this news release. Neither SWire News Media, nor the hiring party, has a financial relationship with any company whose stock is mentioned in this release.

 

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Contact Person:

Street-Wire LLC

Anthony K. Merchant

Communications Executive

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