Loading...
Loading...
In a report published Wednesday, Feltl and Company reiterated its Buy rating on Rochester Medical Corporation
ROCM, but slightly lowered its price target from $13.00 to $12.50.
Feltl and Company noted, “ROCM reported 4Q12 revenue of $16.7 million that missed the Feltl and consensus estimate of $17.8 million. 4Q12 revenue increased 13%, or 16% on constant currency. International direct revenue benefited from orders that slipped out of 3Q12 into the current quarter. This however was more than offset by a greater FX drag than our model and persistent general economic weakness in Europe (excluding the U.K.), that continues pressuring revenue. EPS of $0.08 was inline with the Feltl and consensus estimate despite the lower than expected sales. We note ROCM exhibited strong cost controls driving operating margins to 10.1%, 120 bps greater than our estimate.”
Rochester Medical Corporation closed on Tuesday at $9.11.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Benzinga simplifies the market for smarter investing
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
Join Now: Free!
Already a member?Sign in