Equities researchers at Needham & Company LLC started coverage on shares of Vascular Solutions Inc. (NASDAQ:VASC) in a research note issued to investors on Thursday. The brokerage set a “buy” rating and a $58.00 price target on the medical device company’s stock. Needham & Company LLC’s target price would indicate a potential upside of 21.87% from the stock’s previous close.
A number of other brokerages have also issued reports on VASC. Zacks Investment Research lowered Vascular Solutions from a “buy” rating to a “hold” rating in a research report on Wednesday, June 29th. Piper Jaffray Cos. lifted their target price on Vascular Solutions from $45.00 to $49.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 26th. Sidoti lowered Vascular Solutions from a “buy” rating to a “neutral” rating and set a $47.00 target price on the stock. in a research report on Tuesday, July 12th. TheStreet raised 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 report on Wednesday, August 10th. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average price target of $49.50.
Shares of Vascular Solutions (NASDAQ:VASC) opened at 47.59 on Thursday. The firm’s 50-day moving average price is $48.49 and its 200-day moving average price is $41.58. Vascular Solutions has a 52-week low of $24.34 and a 52-week high of $50.72. The firm has a market capitalization of $832.40 million, a PE ratio of 88.13 and a beta of 0.54.
Vascular Solutions (NASDAQ:VASC) last announced its earnings results on Monday, July 25th. The medical device company reported $0.33 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.30 by $0.03. Vascular Solutions had a return on equity of 16.32% and a net margin of 6.22%. The business had revenue of $41.20 million for the quarter, compared to analyst estimates of $41.40 million. During the same period in the previous year, the company earned $0.29 earnings per share. The company’s revenue for the quarter was up 9.7% compared to the same quarter last year. On average, equities analysts predict that Vascular Solutions will post $1.24 earnings per share for the current fiscal year.
In other Vascular Solutions news, CEO Howard Root sold 40,000 shares of Vascular Solutions stock in a transaction that occurred on Wednesday, July 27th. The stock was sold at an average price of $45.11, for a total value of $1,804,400.00. Following the completion of the transaction, the chief executive officer now directly owns 347,840 shares in the company, valued at $15,691,062.40. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, VP William Rutstein sold 10,011 shares of Vascular Solutions stock in a transaction that occurred on Wednesday, July 27th. The shares were sold at an average price of $46.26, for a total value of $463,108.86. The disclosure for this sale can be found here. 6.90% of the stock is owned by corporate insiders.
A number of institutional investors have recently modified their holdings of VASC. Mason Street Advisors LLC bought a new position in shares of Vascular Solutions during the second quarter worth approximately $141,000. First Mercantile Trust Co. increased its position in shares of Vascular Solutions by 129.4% in the third quarter. First Mercantile Trust Co. now owns 4,242 shares of the medical device company’s stock worth $205,000 after buying an additional 2,393 shares during the last quarter. Bank of Montreal Can bought a new position in shares of Vascular Solutions during the second quarter worth approximately $202,000. Barclays PLC bought a new position in shares of Vascular Solutions during the second quarter worth approximately $213,000. Finally, JPMorgan Chase & Co. increased its position 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 worth $214,000 after buying an additional 1,387 shares during the last quarter. Institutional investors own 82.08% of the company’s stock.
Vascular Solutions Company Profile
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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