Greatbatch Inc. (GB) Updates FY14 Earnings Guidance
Greatbatch Inc. (NYSE:GB) updated its FY14 earnings guidance on Tuesday. The company provided earnings per share (EPS) guidance of $2.25-2.35 for the period, compared to the Thomson Reuters consensus estimate of $2.28, AnalystRatingsNetwork reports. The company issued revenue guidance of $685-705 million, compared to the consensus revenue estimate of $687.98 million.
Shares of Greatbatch Inc. (NYSE:GB) opened at 43.98 on Tuesday. Greatbatch Inc. has a 1-year low of $25.02 and a 1-year high of $45.10. The stock’s 50-day moving average is $41.78 and its 200-day moving average is $37.45. The company has a market cap of $1.061 billion and a P/E ratio of 50.90.
Greatbatch (NYSE:GB) last released its earnings data on Thursday, October 24th. The company reported $0.57 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.54 by $0.03. The company had revenue of $167.73 million for the quarter, compared to the consensus estimate of $167.30 million. During the same quarter in the previous year, the company posted $0.46 earnings per share. The company’s revenue for the quarter was up 4.0% on a year-over-year basis. Analysts expect that Greatbatch Inc. will post $2.12 EPS for the current fiscal year.
A number of analysts have recently weighed in on GB shares. Analysts at Craig Hallum upgraded shares of Greatbatch from a hold rating to a buy rating in a research note to investors on Tuesday, December 17th. Analysts at Zacks reiterated an outperform rating on shares of Greatbatch in a research note to investors on Thursday, November 28th. They now have a $49.00 price target on the stock. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Greatbatch has a consensus rating of Buy and an average price target of $44.00.
In other Greatbatch news, EVP Mauricio Arellano sold 24,198 shares of Greatbatch stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $43.61, for a total value of $1,055,274.78. Following the completion of the transaction, the executive vice president now directly owns 3,782 shares in the company, valued at approximately $164,933. The sale was disclosed in a document filed with the SEC, which is available at this link.
Greatbatch, Inc (NYSE:GB) is developer and manufacturer of components for implantable medical devices (IMDs) and Electrochem batteries.
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