Canaccord Genuity Lowers PT & Estimates on ArthroCare (ARTC); DoJ Overhang Remains
Tweet
Share
E-mailGet Alerts ARTC Hot Sheet
Price: $9.97 --0%
Rating Summary:
3 Buy, 6 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 6 | New: 26
Rating Summary:
3 Buy, 6 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 6 | New: 26
Join SI Premium – FREE
Canaccord Genuity maintains a 'Buy' on ArthroCare (NASDAQ: ARTC) price target slashed from $43.50 to $29.
Analyst, William J. Plovanic, said, "We maintain our rating post a weak Q4/11 and disappointing 2012 guidance. We believe a new DoJ investigation could extend the timeline for the company’s legal overhang by another 12–24 months. As a result, we believe shareholders that have been waiting for clearance of legal issues may lose patience in the name. Alternatively, at ~$30 per share, we note that the company has a free cash flow yield of ~10%, which is the highest of any of our coverage companies."
Canaccord cuts FY12 EPS estimate from $1.70 to $1.33.
For an analyst ratings summary and ratings history on ArthroCare click here. For more ratings news on ArthroCare click here.
Shares of ArthroCare closed at $30.77 yesterday.
Analyst, William J. Plovanic, said, "We maintain our rating post a weak Q4/11 and disappointing 2012 guidance. We believe a new DoJ investigation could extend the timeline for the company’s legal overhang by another 12–24 months. As a result, we believe shareholders that have been waiting for clearance of legal issues may lose patience in the name. Alternatively, at ~$30 per share, we note that the company has a free cash flow yield of ~10%, which is the highest of any of our coverage companies."
Canaccord cuts FY12 EPS estimate from $1.70 to $1.33.
For an analyst ratings summary and ratings history on ArthroCare click here. For more ratings news on ArthroCare click here.
Shares of ArthroCare closed at $30.77 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Emkay Global Starts Urban Company (URBANCO:IN) at Buy (1)
- ICICI Securities Resumes Dalmia Bharat Ltd (DALBHARA:IN) at Add (2)
- Intchains Group Ltd (ICG) PT Lowered to $2 at Benchmark Following 1H Results
Create E-mail Alert Related Categories
Analyst Comments, Analyst EPS Change, Analyst EPS View, Analyst PT ChangeSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
