stock downgrade

Though Meehan was cautious on Waters in the near term, he provided a favorable outlook on Thermo Fisher Scientific.

The investment bank adjusted its December 2020 price target for Luminex's stock to $21 and for Accelerate Diagnostics' stock to $16.

Evercore noted that while Qiagen is on target to hit previously issued 2020 financial targets, its recently issued long-term guidance for 2023 is less of a sure thing.

The investment firm also reduced its price target to $30 per share from $37 citing "lower overall conviction" that Myriad would meet its revenue projections.

The investment bank said it changed its rating because of where the company is in its latest new product adoption cycle with the NovaSeq.

The investment bank previously had a Neutral rating for the company, and it lowered the price target on Genomic Health's stock to $25 from $28. 

In a note, Cowen analyst Doug Schenkel said the company has had trouble meeting its targets and suggested it pursue a strategic sale of its nCounter platform.

In a note to investors, the investment bank said the company is going through a transition phase, and has limited potential for near-term upside.

The investment bank, which maintained its $60 price target for the company's stock, said it is looking for signs of revenue acceleration.

The investment bank provided the updates as part of its 2017 outlook on the US life science tools and diagnostics markets.