Greatbatch Inc (GB) Releases Earnings Results, Misses Expectations By $-0.18 EPS

Greatbatch Inc (GB) reported quarterly earnings results on Thursday, Apr-28-2016. The company reported $0.34 earnings per share for the quarter, missing the analyst consensus estimate by $-0.18. Analysts had a consensus of $0.52. The company posted revenue of $332.24 million in the period, compared to analysts expectations of $333.37 million. The company’s revenue was up 106.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.65 EPS.

Many Wall Street Analysts have commented on Greatbatch Inc. Shares were Reiterated by RBC Capital Mkts on Mar 1, 2016 to “Sector Perform” and Lowered the Price Target to $ 42 from a previous price target of $52 .

Greatbatch Inc closed down -0.43 points or -1.10% at $38.83 with 3,27,522 shares getting traded on Wednesday. Post opening the session at $39.24, the shares hit an intraday low of $38.43 and an intraday high of $39.45 and the price fluctuated in this range throughout the day.Shares ended Wednesday session in Red.

In a different news, on Dec 7, 2015, Joseph A Miller (director) sold 1,910 shares at $59.86 per share price. According to the SEC, on Dec 4, 2015, Bill R Sanford (director) sold 1,896 shares at $59.27 per share price. On Nov 25, 2015, William B Jr Summers (director) sold 1,866 shares at $58.03 per share price, according to the Form-4 filing with the securities and exchange commission.

Greatbatch Inc. is a developer and manufacturer of medical devices and components. The Company operates through two segments: Greatbatch Medical and QiG Group (QiG). Greatbatch Medical designs and manufactures products where the Company either owns the intellectual property or has unique manufacturing and assembly expertise. Greatbatch Medical’s products include medical devices and components for the cardiac neuromodulation orthopedics portable medical vascular and energy markets. QiG focuses on developing medical device systems for some of healthcare’s challenges and reflects the Company’s strategic evolution of its product offerings in order to raise the growth and profitability profile of the Company. QiG utilizes a diversified portfolio approach with three investment modes: new medical device systems commercialization collaborative programs with OEM customers and strategic equity positions in emerging healthcare companies.

Greatbatch Inc

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