ZOLL Medical Corporation (ZOLL) reported fourth quarter earnings of 16 cents per share, beating the Zacks Consensus Estimate of 8 cents. The company earned 41 cents per share in the year-ago quarter.
For fiscal 2009, the company earned 45 cents per share, which also exceeded the Zacks Consensus Estimate by 8 cents but was well below the year-ago earnings of $1.10. We are pleased with the company’s wide range of products and significant international presence.
ZOLL has made multiple acquisitions in the past which have aided growth, and the company is looking for more such opportunities. Consequently, we upgrade the stock to Outperform with a target of $31.Zacks Investment Research
