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Medical Action Industries (NASDAQ:MDCI) was downgraded by equities research analysts at Sidoti from a “buy” rating to a “neutral” rating in a research note issued to investors on Wednesday, TheFlyOnTheWall.com reports.

Shares of Medical Action Industries (NASDAQ:MDCI) traded up 93.49% on Wednesday, hitting $13.68. 9,318,871 shares of the company’s stock traded hands. Medical Action Industries has a 52-week low of $5.04 and a 52-week high of $10.07. The stock’s 50-day moving average is $6.8 and its 200-day moving average is $7.29. The company has a market cap of $224.2 million and a P/E ratio of 27.62.

Medical Action Industries (NASDAQ:MDCI) last posted its quarterly earnings results on Wednesday, June 11th. The company reported $0.05 EPS for the quarter, missing the Thomson Reuters consensus estimate of $0.06 by $0.01. The company had revenue of $72.48 million for the quarter, compared to the consensus estimate of $110.08 million. During the same quarter in the prior year, the company posted $0.08 earnings per share. The company’s quarterly revenue was up 4.5% on a year-over-year basis. Analysts expect that Medical Action Industries will post $0.29 EPS for the current fiscal year.

Medical Action Industries Inc (NASDAQ:MDCI) develops, manufactures, markets and supplies a range of disposable medical products.

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