Vascular Solutions Inc. (NASDAQ:VASC) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report released 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. “
VASC has been the subject of a number of other reports. Canaccord Genuity reaffirmed a “buy” rating on shares of Vascular Solutions in a research note on Wednesday, August 10th. TheStreet upgraded Vascular Solutions from a “hold” rating to a “buy” rating in a report on Monday, July 25th. Sidoti downgraded Vascular Solutions from a “buy” rating to a “neutral” rating and set a $47.00 target price on the stock. in a report on Tuesday, July 12th. Finally, Piper Jaffray Cos. upped their target price on Vascular Solutions from $45.00 to $49.00 and gave the company an “overweight” rating in a report on Tuesday, July 26th. Two analysts have rated the stock with a hold rating and three have given a buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $47.38.
Shares of Vascular Solutions (NASDAQ:VASC) traded down 1.10% during mid-day trading on Wednesday, hitting $48.76. 14,425 shares of the company traded hands. The firm has a market cap of $852.86 million, a price-to-earnings ratio of 90.30 and a beta of 0.58. The firm has a 50-day moving average price of $48.29 and a 200 day moving average price of $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 posted its quarterly earnings data on Monday, July 25th. The medical device company reported $0.33 EPS for the quarter, beating analysts’ consensus estimates 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 earned $41.20 million during the quarter, compared to analyst estimates of $41.40 million. During the same period in the prior year, the firm earned $0.29 earnings per share. The business’s quarterly revenue was up 9.7% on a year-over-year basis. Equities research analysts anticipate that Vascular Solutions will post $1.24 EPS for the current fiscal year.
In related news, VP William Rutstein sold 10,011 shares of the stock in a transaction that occurred on Wednesday, July 27th. The stock was sold at an average price of $46.26, for a total value of $463,108.86. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CEO Howard Root sold 40,000 shares of the 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 owns 347,840 shares in the company, valued at approximately $15,691,062.40. The disclosure for this sale can be found here. 6.90% of the stock is owned by insiders.
A number of institutional investors have recently added to or reduced their stakes in VASC. Arizona State Retirement System increased its position in Vascular Solutions by 2.3% in the second quarter. Arizona State Retirement System now owns 9,050 shares of the medical device company’s stock worth $377,000 after buying an additional 200 shares in the last quarter. BlackRock Advisors LLC increased its position in Vascular Solutions by 2.6% in the second quarter. BlackRock Advisors LLC now owns 8,632 shares of the medical device company’s stock worth $360,000 after buying an additional 219 shares in the last quarter. State Board of Administration of Florida Retirement System increased its position in Vascular Solutions by 2.8% in the second quarter. State Board of Administration of Florida Retirement System now owns 10,664 shares of the medical device company’s stock worth $444,000 after buying an additional 288 shares in the last quarter. New York State Teachers Retirement System increased its position in Vascular Solutions by 3.1% in the second quarter. New York State Teachers Retirement System now owns 9,899 shares of the medical device company’s stock worth $412,000 after buying an additional 300 shares in the last quarter. Finally, Uniplan Investment Counsel Inc. increased its position in Vascular Solutions by 0.4% in the first quarter. Uniplan Investment Counsel Inc. now owns 117,429 shares of the medical device company’s stock worth $3,820,000 after buying an additional 422 shares in the last quarter. Hedge funds and other 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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