Tag - KNSY

Quidel Corp. (Nasdaq:QDEL), Data Domain Inc. (Nasdaq:DDUP) and Kensey Nash Corp. (Nasdaq:KNSY) are among the new 52-week lows in Monday's trading among companies with market capitalizations under $1 billion.

Nash-Finch Co. (Nasdaq:NAFC), Heritage Crystal Clean Inc. (Nasdaq:HCCI) and Mac-Gray Corp. (Nasdaq:TUC) are among the new 52-week lows in Thursday's trading among companies with market capitalizations under $1 billion.

Friedman Industries Inc. (Nasdaq:FRD) Nabi Biopharmaceuticals (Nasdaq:NABI) and Micromet Inc. (Nasdaq:MITI) are among the new 52-week highs in Friday's trading among companies with market capitalizations under $1 billion.    

Also included among the results: Associated Estates Realty Corp. (Nasdaq:AEC) Medifast Inc. (Nasdaq:MED) Schiff Nutrition International Inc. (Nasdaq:WNI) Kensey Nash Corp. (Nasdaq:KNSY) USA Truck Inc (Nasdaq:USAK) and CombiMatrix Corp. (Nasdaq:CBMX).    

Here are the new 52-week highs among small caps:      

American Ecology Corp (Nasdaq:ECOL), Allos Therapeutics Inc (Nasdaq:ALTH) and Merit Medical Systems Inc (Nasdaq:MMSI) are among the new 52-week highs in Tuesday's trading among companies with market capitalizations under $1 billion.

Here are the new 52-week highs among small caps:

Omega Flex Inc (Nasdaq:OFLX), Pegasystems Inc (Nasdaq:PEGA) and Kensey Nash Corp (Nasdaq:KNSY) are among the new 52-week highs in Thursday's trading among companies with market capitalizations under $1 billion.

Here are the new 52-week highs among small caps:

MEDecision Inc (Nasdaq:MEDE), Vantage Drilling Co. (Nasdaq:VTG) and Northern Oil and Gas Inc (Nasdaq:NOG) are among the new 52-week highs in Wednesday's trading among companies with market capitalizations under $1 billion.

Also included among the results: RAM Energy Resources Inc (Nasdaq:RAME), Pyramid Oil Co (Nasdaq:PDO), Panhandle Oil and Gas Inc (Nasdaq:PHX), National Coal Corp (Nasdaq:NCOC), Kensey Nash Corp (Nasdaq:KNSY) and Integral System Inc (Nasdaq:ISYS).

Here are the new 52-week highs among small caps:

Medical device maker Kensey Nash Corporation (Nasdaq:KNSY) had a rough go of it last year, what with a product recall, disgruntled investors and a business exit. What a difference a year makes: Kensey is now posting double-digit sales and earnings gains, perhaps at least somewhat consoling its ornery shareholders.

Kensey operates two businesses. Its core unit of biomaterial products — used in orthopedics (particularly sports medicine and spine), cardiology, drug delivery, oral care, general surgery and wound care — keeps investors satisfied. Biomaterials treat, augment or replace tissue and organs; they are used in a variety of resorbable or permanent implants.

Angio-Seal, a vascular closure device now manufactured and sold by St. Jude Medical Inc. (NYSE:STJ) was the Exton, Penn.-based company’s first biomaterial success. Since 2001, the market share of Angio-Seal has more than doubled, to 65% from 31%, with nearest competitor Abbot Laboratories (NYSE:ABT) now at 30%, down from 43% in 2001. 

Few have complaints with Kensey’s biomaterial business. After all, net sales of biomaterials increased 15% to $11.5 million in the second quarter through December, led by a 67% gain in orthopedic product sales to $7.2 million. Sales of spine products increased 140%.

Kensey’s endovascular business is what annoys investors, namely Ramius Capital Group, the company’s largest shareholder. The institutional investment fund started amassing shares of Kensey last summer, after Kensey reported a disappointing quarter, a recall of an embolic protection platform and a more general miscalculation of market demand for its protectors against traveling embolisms. Kensey decided in July to halt its embolic activities and refocus on biomaterials and endovascular devices, which are used in a variety of medical procedures.   

A maddening series of events, to be sure. So Ramius went activist and, by Dec. 31, owned just over 20% of shares. Ramius wants Kensey to refocus on its biomaterials business, and reduce spending and management effort on endovascular … or just get rid of it, among other ideas. Last fall, Ramius placed two of its own on . . .

Medical technology company Kensey Nash Corp. (Nasdaq: KNSY) said this morning that it shipped its first product kit of its bone void filler OsseoFit Porous Tissue Matrix to Biomet Sports Medicine, Inc., the sports medicine subsidiary of Biomet Inc.

The product kit will be used to expand the clinical use of the OsseoFit device beyond a select group of sites that have had access to the product to date.

According to Kensey Nash, preliminary surgeon response to its OsseoFit Porous Tissue Matrix product has been very positive and the small cap said additional product that is being sent out for commercial distribution will allow greater surgeon and clinical exposure.

OsseoFit Porous Tissue Matrix is an implant manufactured from Kensey Nash's Porous Tissue Matrix technology, which creates foamed scaffolds suited for tissue engineering applications.

Shares of Kensey Nash (KNSY) were halted in pre-market trading.

CyberSource Corp. (Nasdaq: CYBS), Authorize.Net Holdings, Inc. (Nasdaq: ANET) and LaserCard Corp. (Nasdaq: LCRD) are among the biggest percentage gainers in Friday's trading among companies with market capitalizations under $750 million.

Here are today's biggest percentage gainers:

Medical technology company Kensey Nash Corp. (Nasdaq: KNSY) said it swung to a loss in its first quarter of fiscal year 2008 due to pre-tax charges for the acceleration of stock awards and the discontinuation of the company’s embolic protection platform.

For the three months ended Sept. 30, including one time charges, the Exton, Pa.-based firm recorded a loss of $0.02 per share, compared with earnings of $0.11 for the same quarter last year. Excluding the charges, Kensey earned $0.16 per share, above the consensus of three analysts polled by Thomson of $0.13 per share.

Adjusted earnings per share were significantly stronger in comparison with the prior year period on account of increases in sales of biomaterials and endovascular products as well as increased royalties and improved gross margins.

The pre-tax charges included a $3 million charge, or $0.16 per share tax-effected, for the acceleration of stock awards and approximately $325,000, or $0.02 per share tax-effected, of charges related to the discontinuation of the embolic protection platform.

Total revenues, were $17.6 million for the quarter, inline with the consensus of four analysts polled by Thomson Financial of $17.61 million. The current quarter’s sales represent an increase of 8% over the prior year’s first-quarter sales of $16.3 million.

Shares of Kensey Nash (KNSY) gained $1.45, or 5.75%, to $26.65 at 12:13 ET. Shares of Kensey Nash have been trading in the range of $22.26 to $33 for the past 52 weeks.

Shares of Kensey Nash Corp. (Nasdaq: KNSY) are lower following news before the opening bell that the maker of medical devices posted a fourth-quarter net loss.

For the three months ended June 30, the Exton, Pa.-based company had a net loss of $0.15 per share, compared with a net income of $0.21 per share during the same period of 2006. Five analysts surveyed were expecting a profit of $0.05 per share.

“Excluding all the one-time charges, operating EPS came in at $0.14 per share, just one penny below our estimates” said David Turkaly, medical supplies and devices analyst with investment bank Susquehanna International Group, LLP.

Revenues also missed expectations, falling 8% to $17 million from $18.4 million a year earlier, while Wall Street was projecting sales of $18.7 million.

Kensey Nash said the decline was expected and attributed it to the ordering patterns of major customers and a particularly strong fourth quarter in 2006.

Shares of Ocean Bio-Chem Inc. (Nasdaq: OBCI) are soaring on news this morning that the Fort Lauderdale, Fla.-based maker of a line of appearance and maintenance products for boats saw its sales for the second quarter of 2007 rise to $5.72 million from $4.33 million a year earlier. Analyst estimates were not available. The stock is up $0.92, or 53%, to $2.65.

Kensey Nash Corp. (Nasdaq: KNSY) has decided to reduce its costs by cutting all activities on its embolic protection platform, the Exton, Pa.-based provider of medical technology solutions announced this morning. Embolic protection devices serve to capture and/or remove debris created after coronary surgery. Shares are up $1.68, or 6%, to $29.00.

The Russell 2000 index opened in the red for the third day in a row on news of a rise in Treasury notes and despite strong May retail sales.
 
At 10:11 a.m. ET the Russell 2000 was down 3.67 points, or 0.44 percent, to 837.54. Dow Jones Industrial Average was down 17.63 points, or 0.13 percent, to 13,448.04.

The yield on the 10-year U.S. Treasury note cleared five percent for the first time in 10 months, rising 5.03%. On Wednesday the European Central Bank raised interest rates 0.25% to 4%.

In business news, same-store sales at U.S. retailers improved in May, following a sharp contraction in April. Bentonville, Ark.-based giant Wal-Mart Stores, Inc. (NYSE: WMT) reported a 1.1% increase in same-store sales, excluding fuel sales.

The following were the most actively traded companies in Thursday's trading among those with market capitalizations under $500 million:

These are the biggest percentage losers among companies with market capitalizations under $500 million at 1:23 ET:

Shares of Kensey Nash (Nasdaq: KNSY) plunged on unusually heavy volume today after the medical technology company reported disappointing fiscal third quarter results and fourth quarter outlook.

For the third quarter ended March 31, Exton, Pa.-based Kensey Nash reported net income of $2.4 million, or $0.19 per share, on revenue of $19 million, compared with net income of $1.8 million, or $0.15 per share, on revenue of $15.7 million.

Five analysts polled by Thomson First Call were expecting earnings per share of $0.21, on revenue $19.5 million.

Looking ahead, the firm said it expects to report earnings per share in the range of $0.14 to $0.15 on revenue in the range of $18 million to $18.7 million in its fiscal fourth quarter.

Five analysts polled by Thomson First Call were expecting earnings per share of $0.28 on revenue of $21.9 million.