Tornier NV Shares Up 12.9% Following Analyst Upgrade (TRNX)
Shares of Tornier NV (NASDAQ:TRNX) shot up 12.9% during trading on Friday after Piper Jaffray raised their price target on the stock from $25.00 to $26.00, American Banking & Market News reports. The stock traded as high as $23.98 and last traded at $22.00, with a volume of 228,630 shares. The stock had previously closed at $19.49.
Other equities research analysts have also recently issued reports about the stock. Analysts at JPMorgan Chase & Co. raised their price target on shares of Tornier NV from $20.00 to $23.00 in a research note on Friday. Separately, analysts at Barclays raised their price target on shares of Tornier NV from $26.00 to $28.00 in a research note on Friday. Finally, analysts at BMO Capital Markets upgraded shares of Tornier NV from a “market perform” rating to an “outperform” rating in a research note on Friday. They now have a $24.00 price target on the stock, up previously from $20.00. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $22.67.
The stock’s 50-day moving average is $22.24 and its 200-day moving average is $20.52. The company’s market cap is $1.055 billion.
Tornier NV (NASDAQ:TRNX) last released its earnings data on Thursday, August 7th. The company reported ($0.20) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.16) by $0.04. The company had revenue of $86.85 million for the quarter, compared to the consensus estimate of $79.40 million. During the same quarter in the previous year, the company posted ($0.28) earnings per share. The company’s revenue for the quarter was up 11.2% on a year-over-year basis. Analysts expect that Tornier NV will post $-0.45 EPS for the current fiscal year.
Tornier N.V. (NASDAQ:TRNX) is a global medical device company focused on surgeons that treat musculoskeletal injuries and disorders of the shoulder, elbow, wrist, hand, ankle and foot.
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