Anteris Technologies (AVR) Secures $320M Financing, Price Target Cut to $15
Written by Emily J. Thompson, Senior Investment Analyst
Source: Yahoo Finance
- Financing Impact: Anteris Technologies successfully secured $320 million in financing, including a $90 million strategic investment from Medtronic, which the analyst describes as a 'transformational deal' that will significantly improve the company's capital structure.
- Price Target Adjustment: Lake Street analyst Frank Takkinen lowered Anteris' price target from $20 to $15, primarily due to the dilutive impact of the financing, yet maintains a 'Buy' rating, reflecting confidence in the company's future prospects.
- Strengthened Collaboration: This financing not only alleviates capital overhang but also verifies product viability and solidifies the collaboration with Medtronic, which may become a potential acquirer, enhancing Anteris' market position.
- Market Outlook: The analyst notes that the financing will support Anteris' PARADIGM trial, expected to drive further development in the cardiovascular sector, thereby enhancing its competitiveness in the industry.
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Analyst Views on MDT
Wall Street analysts forecast MDT stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for MDT is 111.76 USD with a low forecast of 102.00 USD and a high forecast of 120.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
20 Analyst Rating
11 Buy
9 Hold
0 Sell
Moderate Buy
Current: 100.790
Low
102.00
Averages
111.76
High
120.00
Current: 100.790
Low
102.00
Averages
111.76
High
120.00
About MDT
Medtronic Public Limited Company is an Ireland-based company, which provides healthcare technology solutions. The Company’s products category includes Advanced Surgical Technology; Cardiac Rhythm; Cardiovascular; Digestive & Gastrointestinal; Ear, Nose & Throat; General Surgery; Gynecological; Neurological; Oral & Maxillofacial; Patient Monitoring; Renal Care; Respiratory; Spinal & Orthopedic; Surgical Navigation & Imaging; Urological; Product Manuals; Product Ordering & Inquiries; and Product Performance & Advisories. Its products include Cardiac Implantable Electronic Device (CIED) Stabilization, Aortic Stent Graft Products, CareLink Personal Therapy Management Software, CareLink Pro Therapy Management Software. Its services and solutions include Ambulatory Surgery Center Resources, Care Management Services, Digital Connectivity Information Technology (IT) Support, Equipment Services and Support, Innovation Lab, Medtronic Healthcare Consulting, and Office-Based Sinus Surgery.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
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