Advanced Medical Optics at outperform by Bear Stearns

Advanced Medical Optics Inc. was given a market outperform rating and a $50 price target by Bear Stearns analyst Milton Hsu. The company reported lower-than-expected fourth-quarter 2005 sales of $253 million, $11 million lower than consensus and $21 million lower than Bear Stearns' estimate. Earnings per share of $0.40 were in line with the analyst's estimate and one cent below the Street. Shares of the Santa Ana, Calif., device manufacturing company were up 78 cents, or 1.88%, at $42.34 on volume of 1,177,400 shares versus the three-month running average of 789,838 shares. (NYSE: EYE)

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