Healthcare Review: Digirad Corporation, Herbalife, Ltd., Anika Therapeutics, Natus Medical, Bio-Reference Laboratories Print E-mail
By Staff and Wire Reports   
Thursday, 28 February 2013 16:46
Stocks rose modestly on low volume on Thursday after strong economic data, but the proximity of record highs for the Dow and the S&P 500 gave investors a reason to keep gains in check. The U.S. economy grew slightly in the fourth quarter, reversing an earlier estimate showing contraction, and a drop in new claims for unemployment benefits last week added to a string of data that suggests the economy improved early this year. Still, an even higher revision to GDP data was expected, and the jobless claims extended a trend baked into stock prices. Following are notable movers on Thursday:-

Diagnostic imaging system developer Digirad Corporation (NASDAQ:DRAD) gains 5.50% after reporting earnings and renewing its commitment to buying back shares, but maybe what's really got investors excited is a plan to reduce costs beginning with moving operations from California to Atlanta. Cost savings might reach 30%.

Herbalife Ltd. (NYSE:HLF) jumped 7% trading with shares nearly doubling their pre-announcement gains. Icahn (and related entities) currently own 13.6% of the company and the board expansion agreement allows Icahn to increase the size of his stake to up to 25%.

Anika Therapeutics, Inc. (NASDAQ:ANIK) rallies 17% today after easily beating Q4 estimates yesterday. Total sales grew by 23% Y/Y, driven by strong demand for Orthovisc - revenue in its U.S. market was up nearly 42% for the full year - and bottom line margins benefited from cost savings from its restructuring efforts.

Natus Medical Inc. (NASDAQ:BABY) racks up a healthy gain on an upbeat FY13 forecast, and in spite of posting a mixed Q4 that beat on its EPS but missed on revenue. For Q1, the company sees EPS of $0.09 - $0.10 on revenues of $83M - $85M. Analysts are looking for $0.09 EPS on revenues of $83.94M. FY13 EPS is expected to be around $0.81 - $0.84 on revenues of $362M - $367M. The Street view is EPS of $0.82 on revenues of $359.02M.

Bio-Reference Laboratories Inc. (NASDAQ:BRLI) shrugs off a negative article in The Street Sweeper yesterday to trade higher in spite posting a mixed FQ1 earnings report. The company beat on a per share basis but missed on its top line consensus as revenue was impacted from hurrican Sandy. Going forward the company reaffirms its guidance for FY13, still expecting net revenues to increase more than 15% and net income to increase by approximately 20%.

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