Volcano (VOLC) Posts Quarterly Earnings Results, Beats Expectations By $0.06 EPS
Volcano (NASDAQ:VOLC) announced its earnings results on Thursday. The company reported $0.01 EPS for the quarter, beating the Thomson Reuters consensus estimate of ($0.05) by $0.06, Analyst Ratings News reports. The company had revenue of $102.60 million for the quarter, compared to the consensus estimate of $103.14 million. During the same quarter in the prior year, the company posted $0.03 earnings per share. The company’s quarterly revenue was up 1.3% on a year-over-year basis.
VOLC has been the subject of a number of recent research reports. Analysts at Cantor Fitzgerald initiated coverage on shares of Volcano in a research note on Tuesday, June 24th. They set a “hold” rating and a $21.00 price target on the stock. Analysts at Canaccord Genuity reiterated a “hold” rating on shares of Volcano in a research note on Wednesday, May 28th. They now have a $18.00 price target on the stock, down previously from $21.00. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and four have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $22.80.
Volcano (NASDAQ:VOLC) traded down 3.25% on Thursday, hitting $15.78. The stock had a trading volume of 707,766 shares. Volcano has a 52 week low of $15.38 and a 52 week high of $24.62. The stock’s 50-day moving average is $16.86 and its 200-day moving average is $18.97. The company’s market cap is $808.4 million.
Volcano Corporation (NASDAQ:VOLC) designs, develops, manufactures and commercializes a range of precision guided therapy tools, including intravascular ultrasound (IVUS), and fractional flow reserve (FFR), products.
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