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Benchmark Starts Vascular Solutions (VASC) at Buy; Catheter Products are Key

May 8, 2012 7:29 AM EDT Send to a Friend
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Price: $25.07 --0%

Rating Summary:
    2 Buy, 2 Hold, 0 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 24 | Down: 25 | New: 5
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Benchmark initiates coverage on Vascular Solutions (NASDAQ: VASC) with a Buy. PT $15.00.

Analyst, James Terwilliger, said, "In Q1:12, VASC posted Catheter products revenue of $14.9 million. This represented 18% growth compared to the same period last year and represented 63% of total revenue for the quarter. We are encouraged by the strong growth that was visible in Q1:12 as the Pronto aspiration catheter product line faced competitive price pressure. Even with this pressure, the division generated 18% growth and we estimate that if we exclude the Pronto business, which is under pressure, then growth in the Catheter products division would have been in a range of 20-25%...For 2012, we estimate Catheter product revenue of $61.9 million or 63% of total revenue. This represents a 17% growth rate compared to the same period last year. For 2013, we estimate Catheter revenue of $70.5 million."

For an analyst ratings summary and ratings history on Vascular Solutions click here. For more ratings news on Vascular Solutions click here.

Shares of Vascular Solutions closed at $11.87 yesterday.




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