Duncan Williams Starts Tornier (TRNX) at Hold; Market Leader In Fast Growing Extremity Markets
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Price: $0.00 --0%
Rating Summary:
5 Buy, 7 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
5 Buy, 7 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
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Duncan Williams initiates coverage on Tornier (NASDAQ: TRNX) with a Hold.
Duncan analyst says, "We believe that TRNX had the #2 worldwide market position for sales of shoulder joint replacement products in 2009 as measured by revenue. In addition, we believe that TRNX held the #1 market position by revenue in the United States in foot and ankle joint replacement systems in 2009. We believe that the Upper Extremity Joints and Trauma market is the most important for TRNX as it represented 60% of total revenue and 15% growth in Q1:11...We are initiating coverage of TRNX with a HOLD rating as TRNX is currently trading at approximately 3.5 times our 2012 revenue per share estimate of $8.00."
For more ratings news on Tornier click here and for the rating history of Tornier click here.
Shares of Tornier closed at $27.66 yesterday.
Duncan analyst says, "We believe that TRNX had the #2 worldwide market position for sales of shoulder joint replacement products in 2009 as measured by revenue. In addition, we believe that TRNX held the #1 market position by revenue in the United States in foot and ankle joint replacement systems in 2009. We believe that the Upper Extremity Joints and Trauma market is the most important for TRNX as it represented 60% of total revenue and 15% growth in Q1:11...We are initiating coverage of TRNX with a HOLD rating as TRNX is currently trading at approximately 3.5 times our 2012 revenue per share estimate of $8.00."
For more ratings news on Tornier click here and for the rating history of Tornier click here.
Shares of Tornier closed at $27.66 yesterday.
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