UPDATE: BMO Capital Markets Reiterates Market Perform Rating, Lowers PT on Volcano Corporation on 4Q12 Revenue
In a report published Friday, BMO Capital Markets reiterated its Market Perform rating on Volcano Corporation (NASDAQ: VOLC), but lowered its price target from $28.00 to $26.00.
BMO Capital Markets noted, “VOLC reported 4Q12 revenue of $102.5 million (up 10.5%; up 12.5% exfx), in line with the company's preannouncement, including 1) Consoles sales of $12.2 million (up 5.8%), 2) FFR disposables sales of $27.2 million (up 42.7%; up 45% ex-fx), and 3) IVUS Catheter sales of $52.2 million (down 2.6%), including a 4% drain in Japan, and a 13% drag in Europe. EPS was a loss of $0.02, coming in below the consensus' $0.09 gain estimate.”
Volcano Corporation closed on Thursday at $24.67.
Latest Ratings for VOLC
|Dec 2014||Roth Capital||Downgrades||Buy||Neutral|
|Dec 2014||Piper Jaffray||Downgrades||Overweight||Neutral|
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