Market Overview

Wunderlich Reiterates Buy Rating, $8 PT for Synergetics USA

Share:
Related SURG
Benzinga's M&A Chatter for Wednesday September 2, 2015
Stocks Hitting 52-Week Highs

In a company update published earlier today, Wunderlich Securities reiterated its Buy rating and $8.00 PT for Synergetics USA Inc. (NASDAQ: SURG).

Wunderlich went on to say “Synergetics announced FYQ3 results last night. SURG previously indicated that revenues would fall in a range of $14.4mm-$14.7mm. The company reported earnings of $14.6mm. GAAP EPS numbers were $0.04 per share, which is in their pre-announcement range of $0.04-$0.06 per share. During this morning's conference call, SURG management continued to caution their outlook on Europe citing macro concerns and pricing pressures in their ophthalmic business. However, SURG did confirm in-house orders for several emerging market countries that should be able to balance their European woes in Ophthalmology. In addition, the company's portable vitrectomy machine, VersaVIT has been submitted to the FDA and we expect approval sometime in Q4.”

Synergetics USA Inc. closed yesterday at $4.27.

Latest Ratings for SURG

DateFirmActionFromTo
Sep 2015Stephens & Co.DowngradesEqual-weight
Feb 2014WunderlichTerminatesBuy
Jul 2013WunderlichUpgradesHoldBuy

View More Analyst Ratings for SURG
View the Latest Analyst Ratings

Posted-In: Wunderlich SecuritiesAnalyst Color Reiteration Analyst Ratings

 

Related Articles (SURG)

Get Benzinga's Newsletters