Canaccord Genuity Lower PT & Estimates on Greatbatch, Inc. (GB); In-line Q2; Stagnant Operating Margin
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Price: $7.49 --0%
Rating Summary:
2 Buy, 6 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
2 Buy, 6 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
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Canaccord Genuity maintains a 'Hold' on Greatbatch, Inc. (NYSE: GB) price target of $25.00 (from $27.00).
Analyst, Jason R. Mills, said, "GB saw a modest improvement in CRM and continued strength in Vascular and ElectroChem, offset by weakness in Orthopedics, which management said would not hit its 2012 targets due to FX headwinds and operational issues. Operating margin leverage has stagnated around 12% for the past three years albeit improved to 11.5% (pro forma) in Q2 from 9.8% in Q1. While we continue to have a favorable view of the company’s long-term medical device product strategy, we do not see OM expansion potential near term." (Lowers FY13 EPS estimate from $2.01 to $1.97)
For an analyst ratings summary and ratings history on Greatbatch, Inc. click here. For more ratings news on Greatbatch, Inc. click here.
Shares of Greatbatch, Inc. closed at $22.48 yesterday.
Analyst, Jason R. Mills, said, "GB saw a modest improvement in CRM and continued strength in Vascular and ElectroChem, offset by weakness in Orthopedics, which management said would not hit its 2012 targets due to FX headwinds and operational issues. Operating margin leverage has stagnated around 12% for the past three years albeit improved to 11.5% (pro forma) in Q2 from 9.8% in Q1. While we continue to have a favorable view of the company’s long-term medical device product strategy, we do not see OM expansion potential near term." (Lowers FY13 EPS estimate from $2.01 to $1.97)
For an analyst ratings summary and ratings history on Greatbatch, Inc. click here. For more ratings news on Greatbatch, Inc. click here.
Shares of Greatbatch, Inc. closed at $22.48 yesterday.
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