Hospital lab trends are favoring Cepheid (NASDAQ:CPHD), as they are increasingly showing interest in bringing MDx testing in-house.
Canaccord says, "We reiterate our BUY on Cepheid following a strong quarter against very challenging comparisons (30% revenue growth in Q4/09). The results show that hospital labs are displaying interest in bringing MDx testing in-house with CPHD meeting their needs...Cepheid provided revenue guidance of $245M-$255M, which compares favorably to our previous estimate of $246M. GAAP EPS guidance calls for ($0.01) to $0.04. As a result we are raising our revenue estimate to $250M and lowering our EPS estimate to $0.03 from $0.17."
Canaccord Genuity maintains a 'Buy' rating on Cepheid (CPHD), which closed Friday at $23.91, dropping $0.27, or 1.12 percent. Canaccord boosted their price target on Cephid from $27 to $30.
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