Vascular Solutions Inc. (VASC) Downgraded by Zacks Investment Research
Vascular Solutions Inc. (NASDAQ:VASC) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Wednesday.
According to Zacks, “Vascular Solutions Inc. manufactures, markets and sells the Vascular Solutions Duett sealing device, which enables cardiologists and radiologists to rapidly seal the puncture site following catheterization procedures such as angiography, angioplasty and stenting. Its product combines a simple balloon catheter delivery mechanism with a powerful, proprietary procoagulant. The company believes its product offers advantages over both manual compression and the three other FDA-approved devices used to seal the puncture site following the catheterization. “
Several other research analysts also recently issued reports on VASC. Sidoti downgraded shares of Vascular Solutions from a “buy” rating to a “neutral” rating and set a $47.00 price objective on the stock. in a research report on Tuesday, July 12th. Piper Jaffray Cos. raised their price objective on shares of Vascular Solutions from $45.00 to $49.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 26th. TheStreet raised shares of Vascular Solutions from a “hold” rating to a “buy” rating in a research report on Monday, July 25th. Finally, Canaccord Genuity reissued a “buy” rating on shares of Vascular Solutions in a research report on Wednesday, August 10th. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The company has an average rating of “Buy” and an average price target of $47.38.
Shares of Vascular Solutions (NASDAQ:VASC) traded down 1.10% on Wednesday, hitting $48.76. 14,425 shares of the company were exchanged. The stock has a market capitalization of $852.86 million, a PE ratio of 90.30 and a beta of 0.58. The firm’s 50-day moving average is $48.29 and its 200-day moving average is $40.69. Vascular Solutions has a 52-week low of $24.34 and a 52-week high of $50.72.
Vascular Solutions (NASDAQ:VASC) last issued its quarterly earnings data on Monday, July 25th. The medical device company reported $0.33 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.30 by $0.03. Vascular Solutions had a net margin of 6.22% and a return on equity of 16.32%. The company had revenue of $41.20 million for the quarter, compared to the consensus estimate of $41.40 million. During the same period last year, the firm posted $0.29 EPS. Vascular Solutions’s revenue for the quarter was up 9.7% on a year-over-year basis. Equities research analysts predict that Vascular Solutions will post $1.24 earnings per share for the current year.
In other news, VP William Rutstein sold 10,011 shares of the firm’s stock in a transaction on Wednesday, July 27th. The shares were sold at an average price of $46.26, for a total value of $463,108.86. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Howard Root sold 40,000 shares of the firm’s stock in a transaction on Wednesday, July 27th. The stock was sold at an average price of $45.11, for a total transaction of $1,804,400.00. Following the completion of the sale, the chief executive officer now owns 347,840 shares of the company’s stock, valued at approximately $15,691,062.40. The disclosure for this sale can be found here. 6.90% of the stock is currently owned by insiders.
Several hedge funds have recently added to or reduced their stakes in the company. Mason Street Advisors LLC purchased a new stake in Vascular Solutions during the second quarter valued at approximately $141,000. Bank of Montreal Can bought a new stake in shares of Vascular Solutions during the second quarter valued at approximately $202,000. Barclays PLC bought a new stake in shares of Vascular Solutions during the second quarter valued at approximately $213,000. JPMorgan Chase & Co. boosted its stake in shares of Vascular Solutions by 37.0% in the second quarter. JPMorgan Chase & Co. now owns 5,131 shares of the medical device company’s stock valued at $214,000 after buying an additional 1,387 shares during the period. Finally, BNP Paribas Arbitrage SA boosted its stake in shares of Vascular Solutions by 52.2% in the second quarter. BNP Paribas Arbitrage SA now owns 6,772 shares of the medical device company’s stock valued at $282,000 after buying an additional 2,324 shares during the period. Institutional investors own 82.08% of the company’s stock.
About Vascular Solutions
Vascular Solutions, Inc is a medical device company focused on bringing clinically advanced solutions to the market for treating coronary and peripheral vascular disease. The Company’s product line consists of devices and services that are sold to interventional cardiologists, interventional radiologists, electrophysiologists and vein practices around the world.
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