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Guru Mario Gabelli Reduces ROCM, US Direct Sales Up 41%

April 15, 2013 | About:
Sally Jones

Sally Jones

49 followers
As of April 11, 2013, GAMCO Investors’ Chairman and CEO Mario Gabelli reduced his position by 12.85% in the Rochester Medical Corporation (ROCM). Gabelli currently holds 522,510 shares after the trade. The average price range was $14.72, making a 0.01% impact on his portfolio. The current ROCM share price is $14.47 with a change from average down 2%. This trade is Gabelli’s second reduction of ROCM in the last month. As of March 31, 2012, Gabelli cut his position by 49.2% at an average price of $10.65 per share. Rochester Medical Corporation has a market cap of $170.5 million. The P/E is 54.6, the P/B is 2.5 and the P/S is 2.6. The stock is up 35% since January.

Gabelli’s holding history:



Selling to hospitals, extended care facilities, healthcare institutions and distributors in more than 70 countries, Rochester Medical makes acute care products for urinary continence, urine drainage care and wound and scar care. The company’s single focus is “creating continence care and bladder drainage solutions that make a positive difference in people's lives.” The company’s technological advances with materials have resulted in innovative products that provide more reliability, independence and confidence for patients.

Rochester Medical Corporation reported its fiscal 2013 first quarter results with record sales of $17.25 million for the current quarter, compared to $13.97 million for the first quarter of last year. The company also reported net income of $1.01 million or $0.08 per diluted share, compared to a net loss of $75,000 or $.01 per diluted share for the same period last year.

Rochester Medical's CEO and President Anthony J. Conway said, "Our Direct Sales continue to grow nicely, particularly in the United States and the United Kingdom. U.S. Direct Sales were up 41% and U.K. Direct Sales were up 26%. Intermittent catheter sales, in particular, continue to grow at a very strong pace.” Conway also said the company’s new manufacturing facility, now under construction, will be fully funded from within.

Rochester Medical Corporation’s revenue growth, based on annual rates per share, is fairly consistent, with 16.6% over 10 years, 16.1% over 5 years, and 18.4% over 12 months.

Check here for detailed ROCM financials.

Here’s a look at Mario Gabelli’s other top buys, sells and holdings:



To view the rest of Mario Gabelli’s latest trades, go to Mario Gabelli’s Stock Picks.

Also view Gabelli’s undervalued stocks, his high yield companies and his top growth stocks.

GuruFocus "Real Time Picks" reports the stock purchases and sales that Gurus have made within the prior 2 weeks. The report time lag can be as short as 2 days after the date of the transaction. This feature is for Premium Members only. If you are not a Premium Member, we invite you for a 7-day Free Trial.

About the author:

Sally Jones
Sally Jones writes about Real Time Picks. She says, "I truly enjoy watching the Gurus in realtime and telling their story."

Rating: 3.8/5 (4 votes)

Comments

frumenti
Frumenti - 1 year ago
The newsletter I got today from Gurufocus states that Gabelli added to his position in ROCM and your article states he reduced his position. How can Gurufocus be confused on this issue. Which is correct?

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