Ev3 reiterated by Bear Stearns at outperform

ev3, Inc. was reiterated by Bear Stearns analyst Rick Wise at outperform and a $23 price target after the company preannounced fourth-quarter sales of $41 million that were slightly ahead of Bear Stearns estimates of $40.3 million and consensus of $39.9 million. Cardio-peripheral sales of $24 million were ahead of estimates and very encouraging, said Bear Stearns, which tweaked top-line estimates to $210.8 million versus previous estimates of $216.1 million to reflect a slightly more conservative stance. Shares of the Plymouth, Minn., medical device company were up $1.55, or 10.65%, at $16.10 on volume of 1,047,742 shares versus the three-month running average of 220,851 shares.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.