Dougherty: Tornier Expected to Make Strong Progress, New Products Expected
According to a research report published today by Dougherty & Company, Tornier N.V.'s (NASDAQ: TRNX) fourth quarter extremity product sales growth was the strongest of the year.
In the report, Dougherty & Company commented, “TRNX reported fourth quarter revenue of $69.0 million compared to $61.3 million LY (forecast was $66.4 million), increases of 12.7% as reported and 12.4% in constant currency. Fourth quarter 2011 sales of Tornier's extremity product categories increased 17.5% as reported and 17.1% in constant currency and represented 79% of reported global sales.”
Dougherty & Company maintains its Buy rating and $33 PT on Tornier, which is currently trading at $24.47.
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