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January 11, 2013
06:11 EDTMRMindray Medical upgraded to Buy from Neutral at Goldman
Goldman upgraded Mindray citing relative underperformance, strong China and emerging markets growth, and overdone earnings concerns. Price target is $39.60.
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May 11, 2015
17:07 EDTMRMindray Medical sees FY15 adj. net income decreasing by high-teens percentage
Previous guidance for full year 2015 non-GAAP net income is being revised to reflect the impact of the newly announced employee incentive and talent retention program, as well as pricing pressure as a result of rising competition. Assuming the related 2015 payments are distributed half in equity based compensation and half in cash, Mindray forecasts its full year 2015 non-GAAP net income to decrease by a high-teens percentage over its full year 2014 non-GAAP net income. Please note, however, that this assumption is subject to change and the exact impact on the guidance will depend on the actual split between equity based compensation and cash payments. The company will provide more updates as additional details of the program are finalized. The non-GAAP net income guidance also excludes our tax benefits related to the nationwide key software enterprise status and assumes a corporate income tax rate of 15% applicable to the Shenzhen subsidiary. FY15 EPS consensus is $1.72.
17:05 EDTMRMindray Medical backs FY15 revenue growth of mid-single digits, consensus $1.43B
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17:04 EDTMRMindray Medical reports Q1 adjusted EPS 33c, consensus 36c
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