Updated Aug 14 at 11:16pm ET.
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Barrington set a price target of $95 for the stock. This is higher than the current price but lower than the average target of $115 from other analysts who follow the company. Since there was no change to the firm's rating, this is a routine update that does not change the outlook for the business.
Source: Barrington
Sales grew 10 percent to about $70 million last quarter, led by a 34 percent jump in Artegraft sales. Artegraft is a biologic graft used in vascular surgeries, and its expansion into 56 countries is now a primary engine for the company. While earnings of $0.74 per share were slightly below what analysts expected, they still grew 23 percent compared to the same period last year.
The company is keeping its costs in check while raising prices, which helped its gross margin, the profit left after making its products, climb to 72 percent. This ability to raise prices without losing customers shows the strength of its niche surgical tools. With $376 million in cash and no debt, the business is in a strong position to buy smaller rivals or continue its global rollout.
Source: 8-K filing
Analysts recently maintained their positions following the company's second-quarter earnings report. Most analysts, 14 out of 20, rate the stock as a buy, and the average price target of $115 suggests a 40% gain from today's price.
Management has a very reliable track record, beating profit targets in six of the last eight quarters while maintaining steady double-digit revenue growth.
| Expectation | |
|---|---|
| EPS | $0.69 |
| Revenue | $68M |
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