Greatbatch (GB) Posts Quarterly Results
Greatbatch (NYSE:GB) issued its quarterly earnings data on Thursday. The company reported $0.60 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.59 by $0.01, Analyst RN reports. The company had revenue of $172.10 million for the quarter, compared to the consensus estimate of $177.06 million. During the same quarter in the previous year, the company posted $0.56 earnings per share. The company’s revenue for the quarter was up .5% on a year-over-year basis. Greatbatch updated its FY14 guidance to $2.25-2.35 EPS.
A number of analysts have recently weighed in on GB shares. Analysts at Zacks reiterated a “neutral” rating on shares of Greatbatch in a research note on Tuesday, July 1st. They now have a $52.00 price target on the stock. On a related note, analysts at KeyCorp reiterated a “buy” rating on shares of Greatbatch in a research note on Friday, June 13th. They now have a $58.00 price target on the stock, up previously from $55.00. Finally, analysts at Sterne Agee initiated coverage on shares of Greatbatch in a research note on Tuesday, June 3rd. They set a “buy” rating and a $53.00 price target on the stock. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Greatbatch presently has a consensus rating of “Buy” and an average target price of $50.50.
Shares of Greatbatch (NYSE:GB) traded down 2.60% during mid-day trading on Thursday, hitting $49.51. 114,161 shares of the company’s stock traded hands. Greatbatch has a 52 week low of $33.24 and a 52 week high of $51.64. The stock has a 50-day moving average of $49.55 and a 200-day moving average of $46.2. The company has a market cap of $1.232 billion and a price-to-earnings ratio of 28.65.
Greatbatch, Inc (NYSE:GB) is developer and manufacturer of components for implantable medical devices (IMDs) and Electrochem batteries.
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