Month: December 2012

Following a strong third-quarter result, we have reiterated our long-term ‘Neutral’ recommendation on Omnicell ( OMCL ), provider of end-to-end automation solutions for the medication-use process, with a target price of $16.00. In the third quarter of 2012, Omnicell reported earnings per share of 22 cents, well above the Zacks Consensus Estimate of 13 cents. Revenues in the quarter (including the results of MTS Medication Technologies) increased 30.9% year over year to $84.3 million, nominally missing the Zacks Consensus Estimate of $85 million […]

Beacon Roofing Supply, Inc. ( BECN ) has recently acquired San Jose-based Ford Wholesale Co., a distributor of residential and commercial roofing and related accessories and Construction Materials Supply, a distributor of residential roofing products. These acquisitions mark Beacon Roofing’s foray into the attractive North California market […]

We recently reiterated a Neutral recommendation on United Therapeutics ( UTHR ). While the company reported strong third-quarter results, United Therapeutics suffered a major blow in October with the US Food and Drug Administration (FDA) issuing a complete response letter (CRL) for its new drug application for oral Remodulin (treprostinil). The company was looking to get oral Remodulin approved for the treatment of pulmonary arterial hypertension (PAH). […]

We have reaffirmed our Neutral recommendation on PetMed Express ( PETS ), following its second-quarter fiscal 2013 results. PetMed reported earnings per share (EPS) of 20 cents in the quarter, a penny ahead of the year-ago quarter and also above the Zacks Consensus Estimate of 17cents per share. Net sales remained almost unchanged at $58.1 million, but surpassed the Zacks Consensus Estimate of $57 million. […]

Specialty pharmaceutical company, Emergent BioSolutions ( EBS ), recently signed a license agreement to gain an exclusive manufacturing right to VaxInnate Corporation’s pandemic influenza vaccine candidate in the U.S. Financial terms of the deal were not disclosed. […]

We are have maintained our long-term ‘Neutral’ recommendation on HDFC Bank Ltd. ( HDB ). The decision is based on the company’s impressive fiscal second-quarter (September 30) results. […]

In an effort to further enhance its growth, Miami Lakes-based BankUnited, Inc. ( BKU ) opened four new branches in Florida during the month of December. With these branch openings, the bank’s total number of branches – operating in 15 counties in the state of Florida – reached 98. […]

Gap Inc. ( GPS ) witnessed considerable recovery in its comparable sales and total sales performance, driven by its relentless endeavors to keep itself on the growth trajectory. […]

Kinross Gold Corporation ( KGC ) recently came out with a denial statement regarding a joint venture (JV) agreement between Kinross and Southridge Enterprise Inc. (“Southridge”). The announced JV between the two parties related to the Cinco Minas and Gran Cabrera properties in Mexico. […]

Murfreesboro, Tennessee-based, National Health Investors, Inc. ( NHI ) recently acquired Charleston House – an assisted living and memory care facility – for $20.2 million. […]

FTI Consulting Inc. ( FCN ), a global investment advisory firm, has recently redeemed $86.7 million worth of 7 3/4% senior notes due 2016, the redemption price of which was 102.58% of the principal amount plus accrued interests. […]

Upward estimate revisions on the back of strong third-quarter 2012 results – including an earnings surprise of 16.0% as well as high earnings estimates for fiscal 2012 – have helped Fortune Brands Home & Security, Inc . ( FBHS ) achieve a Zacks #1 Rank (Strong Buy) on December 29. Since the release of its third-quarter results on October 23, shares of this home and security products maker have increased about 7.0%. […]

We are maintaining our ‘Neutral’ recommendation on BB&T Corporation ( BBT ) based on its sound organic growth strategy and stable net interest margin (NIM). However, elevated operating expenses, significant exposure to perilous loans, sluggish economic recovery along with stringent regulatory landscape remain the causes of concern. BB&T is focused on its organic growth strategy, which is evident from the growth in client deposits and increase in net interest income (NII) over the last few quarters along with significant improvement in deposits as well as loans and leases […]

Last week, California-based automaker – Fisker Automotive, filed a lawsuit against XL Group Plc ( XL ) for the infringement of the pledged insurance coverage. XL Insurance America Inc.’s policy contract with Fisker compels it to pay a maximum $100 million of coverage for losses incurred from catastrophes including hurricanes like Sandy. However, Fisker alleged that despite putting in a timely claim recently, XL denied the automaker any reimbursements as previously agreed in the mutual contract. […]

Synergy Pharmaceuticals ( SGYP ) recently initiated a phase IIb study with plecanatide for the treatment of patients suffering from constipation-predominant irritable bowel syndrome (IBS-C). Synergy Pharma will be enrolling 350 patients suffering from IBS-C around 70 sites in the US. These patients will be treated with any one of the four doses of plecanatide (0.3, 1.0, 3.0, or 9.0 mg) or placebo for 12 weeks. […]