Tornier BV (NASDAQ: TRNX) had its target price cut by BMO Capital Markets from $23.00 to $22.00 in a report issued on Friday. They currently have an outperform rating on the stock.
“TRNX announced 4Q12 results, provided reasonable 2013 guidance, and announced that David Mowry was appointed the permanent CEO (as we had anticipated). In the 4Q12, revenue of $79.0 million (up 14.5%, up 16% ex-fx, up 4.4% organic), included Upper Extremity and Trauma sales of $45.8 million (up 5.5%; up 6.4% ex-fx), Lower Extremity and Trauma sales of $6.8 million (down 3.4%, down 2.6% ex-fx), OrthoHelix sales of $8 million, Sports Medicine and Biologics sales of $4.2 million (up 3.8%; up 4.8% ex-fx), and Large Joints and Other sales of $14.3 million (down 2.1%; up 1.7% ex-fx). Adjusted EBITDA of $11.0 million bested the consensus’ $9.9 million. EPS of negative $0.02 compares to the consensus’ loss of $0.06.,” BMO Capital Markets’ analyst wrote.
Tornier BV traded up 1.29% on Friday, hitting $17.27. Tornier BV has a 1-year low of $14.53 and a 1-year high of $25.91. The stock’s 50-day moving average is currently $17.35. The company’s market cap is $719.1 million.
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