BBRS Reiterates Buy, Raises Estimates
BancBoston Robertson Stephens senior medical devices and medical technologies analyst Wade H. King, M.D., today reiterated his Buy rating and raised estimates on VISX, Inc. (Nasdaq: VISX). The company, headquartered in Santa Clara, Calif., is the leading manufacturer of excimer laser systems used to perform laser vision correction (LVC) procedures.
"We are raising our estimates on VISX to reflect both the phenomenal growth in the domestic LVC market and VISX's dominant market share and successful execution," said King. "For 1999, we are raising our revenue estimate from $218 million to $227 million and increasing our earnings per share estimate from $2.10 to $2.25. For 2000, we are raising our revenue estimate from $248 million to $271 million and increasing our earnings per share estimate
from $2.70 to $3.00."
"We continue to rate VISX a Buy," said King. "Going forward, we believe our new forecasts still offer upside potential and expect VISX will continue to both dominate the domestic LVC market and exceed Street expectations." |
