AMMD's 4Q EPS In-Line With Pre-Announcement, Piper Jaffray Maintains Neutral

Piper Jaffray has published a research report on American Medical Systems AMMD after the company reported 4Q EPS in-line with its pre-release estimates. In the report, Piper Jaffray writes "AMMD reported Q4 in line with its revenue pre-release and essentially no surprises on earnings or guidance. Management announced two new initiatives, both positive in our view: manufacturing capability in Europe that should have superior ROI by 2013, and a randomized controlled trial of laser vs TURP for BPH treatment that should help settle the nagging question of safety and efficacy of the underpenetrated laser market." Piper Jaffray maintains its Neutral rating and $22 price target. American Medical Systems closed yesterday at $20.78.