Mindray Medical International Ltd Trading Up 3.4% on Better-Than-Expected Earnings (MR)
Shares of Mindray Medical International Ltd (NYSE:MR) were up 3.4% on Tuesday following a stronger than expected earnings report, ARN reports. The stock traded as high as $32.99 and last traded at $30.98, with a volume of 1,268,524 shares. The stock had previously closed at $29.97.
The company reported $0.56 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.54 by $0.02. The company had revenue of $334.50 million for the quarter, compared to the consensus estimate of $348.30 million. During the same quarter in the prior year, the company posted $0.56 earnings per share. The company’s quarterly revenue was up 8.9% on a year-over-year basis.
Separately, analysts at Jefferies Group cut their price target on shares of Mindray Medical International Ltd from $36.00 to $32.00 in a research note on Thursday, May 22nd. They now have a “hold” rating on the stock. Five analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus target price of $35.07.
The stock’s 50-day moving average is $30.70 and its 200-day moving average is $32.31. The company has a market cap of $3.622 billion and a P/E ratio of 17.71.
Mindray Medical International Limited (NYSE:MR), is a developer, manufacturer and marketer of medical devices worldwide.
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