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Synergetics Up 30% after Approval for Eye Surgery Device
Posted by: GuruFocus (IP Logged)
Date: June 28, 2012 05:45PM
Shares of Synergetics (SURG) are up almost 30% today after the company’s eye surgery device was approved by U.S. health regulators. The device serves the purpose of removing liquid from inside an eye during surgery. The company is also waiting for approval from European authorities on the same device.
At the time of writing, shares of Synergetics are at $4.96, up $1.09 so far today, or 28.17%. Synergetics designs, manufactures and markets medical devices for use primarily in ophthalmic surgery and neurosurgery and for other healthcare applications. Synergetics USA Inc. has a market cap of $96.7 million; its shares were traded at around $4.95 with a P/E ratio of 16 and P/S ratio of 1.7. Synergetics USA Inc. had an annual average earnings growth of 13.7% over the past five years.
CEO David Hable recently purchased 4,000 shares of the company on 6/14/2012 at an average price of $4.03. On 3/15/2012, he had also purchased 4,000 shares. CFO Pamela Boone also bought 2,800 shares of the company at an average price of $4. There were various trades from other insiders as well.
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