Zacks Reiterates Neutral Rating for Symmetry Medical (SMA)
Zacks‘ analyst wrote, “We reaffirm our Neutral recommendation on Symmetry. The company’s 2013-fourth quarter earnings fell 46.7% and met the Zacks Consensus Estimate but top line of $101.2 million missed the mark. Multiple internal as well as external issues led to a sudden sequential drop in revenues from the core OEM business. Moreover, the high-margin Surgical business continues to face headwinds from the integration of the Codman business. However, we believe that long-term prospects of this business are still intact. New products, harmonized sales force and eventual accretion from acquired businesses should bolster the company’s growth going forward. We set a target of $10.00 on the stock.”
Shares of Symmetry Medical (NYSE:SMA) traded up 0.60% on Friday, hitting $10.06. The stock had a trading volume of 229,686 shares. Symmetry Medical has a 52-week low of $7.44 and a 52-week high of $12.83. The stock’s 50-day moving average is $9.80 and its 200-day moving average is $8.86. The company’s market cap is $374.8 million.
Symmetry Medical (NYSE:SMA) last posted its quarterly earnings results on Thursday, February 20th. The company reported $0.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.08 by $0.02. The company had revenue of $101.20 million for the quarter, compared to the consensus estimate of $101.50 million. Analysts expect that Symmetry Medical will post $0.53 EPS for the current fiscal year.
Separately, analysts at Wunderlich raised their price target on shares of Symmetry Medical from $10.00 to $11.00 in a research note on Friday, December 27th. They now have a “buy” rating on the stock. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of $11.25.
Symmetry Medical Inc (NYSE:SMA) is a medical device solutions company, including surgical instruments, orthopedic implants, and sterilization cases and trays.
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