Beckman-Coulter CEO Resigns

Beckman Coulter, Inc. BEC announced that Scott Garrett, the current Chairman, President, and CEO, is resigning after eight years, but will continue as a full-time, non-executive employee of the company through January 15, 2011 to assist the board through the transitional period, Jefferies & Company reports. Jefferies is leaving CY2010 estimates where they are, with adjusted EPS at $3.90-$4.00 and guidance of $3.65-$3.7B for sales. Jefferies maintains its Hold rating and $50 price target. Beckman Coulter, Inc. closed yesterday at $46.50. Is BEC a Buy, Sell or Hold? Click Here.