Glenn J. Novarro, a Managing Director and Senior Analyst Covering the Medical Supply and Device Sector for RBC Capital Markets, Interviews with the Wall Street Transcript

Wall Street Transcript

67 WALL STREET, New York - March 21, 2014 - The Wall Street Transcript has just published its Medical Devices Report offering a timely review of the sector to serious investors and industry executives. This special feature contains expert industry commentary through in-depth interviews with public company CEOs, Equity Analysts and Money Managers. The full issue is available by calling (212) 952-7433 or via The Wall Street Transcript Online.

Topics covered: Orthopedics and Cardiovascular Medical Devices - Medical Device Innovation and Consolidation Trends - Affordable Care Act - Aging U.S. Population - End Market Improvement - Biotech, Pharma and Medical Device Convergence - Changing Competitive Dynamics

Companies include: Abbott Laboratories (ABT), Johnson & Johnson (JNJ), Baxter International Inc. (BAX), Becton, Dickinson and Company (BDX), Covidien, Ltd. (COV), Boston Scientific Corporation (BSX), Medtronic, Inc. (MDT), St. Jude Medical Inc. (STJ), Edwards Lifesciences Corp. (EW), Greatbatch, Inc. (GB), Stryker Corp. (SYK), Zimmer Holdings Inc. (ZMH)

In the following excerpt from the Medical Devices Report, an expert analyst for RBC Capital Markets discusses the outlook for the sector for investors:

TWST: Does your team's coverage still run across medical supplies?

Mr. Novarro: Yes. We cover three subsectors: medical supplies and diversified health care, cardiovascular devices, and then orthopedic and spine.

TWST: Where are you focusing your attention and spending the most time these days?

Mr. Novarro: We spend an equal amount of time across the three subsectors. Our 2014 recommendations are to be overweight in the medical supply and diversified health care space, which includes companies such as Abbott (ABT), Johnson & Johnson (JNJ), Baxter (BAX), Becton, Dickinson (BDX) and Covidien (COV). Our favorite names within that segment of our universe are Abbott and Johnson & Johnson.

On the cardiovascular side, we're a little bit less constructive. We only have a "buy" on Boston Scientific (BSX). We also cover Medtronic (MDT), St. Jude (STJ), Edwards (EW) and Greatbatch (GB). We very much like the orthopedic sector this year. We have an overweight recommendation there, and our favorite names are Stryker (SYK) and Zimmer (ZMH).

TWST: Looking back at 2013, how did the three areas do in relation to each other and to rest of the space? It was a strong year across the board, right?

Mr. Novarro: That is correct. It was a good year for medical supplies and devices stocks...

For more of this interview and many others visit the Wall Street Transcript - a unique service for investors and industry researchers - providing fresh commentary and insight through verbatim interviews with CEOs, portfolio managers and research analysts. This special issue is available by calling (212) 952-7433 or via The Wall Street Transcript Online.

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