AngioDynamics ($ANGO) has agreed to buy rival Navilyst Medical, which focuses on vascular access, interventional radiology and interventional cardiology, in a deal valued at $372 million. The buy is expected to boost AngioDynamic’s vascular access market share, The Post Star notes. The boards of both companies have approved the transaction, which is expected to close by the quarter ending May 31.
Business Insider by Mamta Babkar
JP Morgan is optimistic on healthcare stocks for the first time since March 2009. In a new report JP Morgan analysts cite five main reasons for the upgrade to ‘overweight’ from ‘neutral’.
Strong fundamentals – Healthcare companies have an 86% ratio of beating estimates, above the 69% average of all sectors. Free cash flow in the sector that reached $121 billion, which allows the company to pursue opportunities that can boost shareholder value. That reflects 11.3% compound annual growth since Q3 2006.
Cash return – In the past year, healthcare companies returned $78 billion to shareholders via dividends and stock buybacks. Dividends are at an all time high though buybacks are lower than then 2008 peak. Significantly a larger percent of companies are increasing their dividend payouts. read more
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