Retractable Technologies Reiterated at ‘Strong Buy,’ $11 Target by Investrend Analyst Justin Canivet, CFA
NEW YORK, Dec. 11, 2002 (PRIMEZONE) — Investrend analyst Justin Canivet has reiterated a “Strong Buy” rating on Retractable Technologies, Inc. (AMEX:RVP – News), and has maintained a 12-month price target of $11. The full report is available at http://www.investrendresearch.com, and Retractable’s InvestorPower page may be found at http://www.investrend.com/company/list.asp?sPathParam=yes.
“On November 19, Retractable Technologies reported a modest 9.6% decrease in sales compared to the previous quarter, and a slight 3.2% decrease in sales compared to the same quarter in 2001. For the nine-month period ended September 30, 2002, sales were up 4.9% compared to the same period in 2001,” said Canivet. “During the quarter, Thomas J. Shaw and wife Suzanne M. August forgave $1.5 million of royalties and the Company converted $1.55 million of accounts payable and $3.69 million of debt into Series V stock. The Company ended the quarter with $926,490 in the bank and a working capital position of $1,135,315.
“We continue to be very pleased with both the Company’s financial progress, as well as with the progress being made towards a more efficient purchasing environment for medical devices in the North American healthcare system. Early in the New Year, we plan to issue a brand new in-depth research report complete with revised forecasts and updated commentary,” he concluded.
Justin Canivet, CFA, is a member of the Association for Investment Management Research (AIMR) and the Toronto Society of Financial Analysts (TSFA). He has served on the buy-side as Portfolio Administrator for Sceptre Investment Counsel, on the sell-side as Equity Research Associate for Yorkton Securities, and prior to that, worked for State Street Trust Company in Toronto. He is currently working as an Equity Research Consultant for Mundus Investment Research. He is a graduate of Wilfrid Laurier University with an Honours degree in Economics and holds the Chartered Financial Analyst (CFA) designation.
Investrend Communications, Inc., has provided shareholder empowerment platforms — including broadcast, research, forums and information — for the benefit of the shareholders of more than 400 companies since its founding in 1996. Investrend Research has been the leading independent equity research publishing and distribution program, with over 65 AIMR-qualified professional analysts posting more than 450 reports to date. Investrend Broadcast has been a leading provider of webcast solutions for the shareholders of more than 500 public companies. Enrollment fees for the Investrend Research Institutional (continuous) coverage is listed at $1,950 per month, which is being paid by Retractable Technologies, Inc. Analysts are in turn paid by Investrend in advance for their initiation of coverage to eliminate or reduce pecuniary conflict.
Full details of the company’s policies and guidelines are posted on the Website at http://www.investrend.com.
Anyone interested in receiving alerts regarding Retractable Technologies should e-mail info@investrend.com with “RVP’ in the subject line.
“On November 19, Retractable Technologies reported a modest 9.6% decrease in sales compared to the previous quarter, and a slight 3.2% decrease in sales compared to the same quarter in 2001. For the nine-month period ended September 30, 2002, sales were up 4.9% compared to the same period in 2001,” said Canivet. “During the quarter, Thomas J. Shaw and wife Suzanne M. August forgave $1.5 million of royalties and the Company converted $1.55 million of accounts payable and $3.69 million of debt into Series V stock. The Company ended the quarter with $926,490 in the bank and a working capital position of $1,135,315.
“We continue to be very pleased with both the Company’s financial progress, as well as with the progress being made towards a more efficient purchasing environment for medical devices in the North American healthcare system. Early in the New Year, we plan to issue a brand new in-depth research report complete with revised forecasts and updated commentary,” he concluded.
Justin Canivet, CFA, is a member of the Association for Investment Management Research (AIMR) and the Toronto Society of Financial Analysts (TSFA). He has served on the buy-side as Portfolio Administrator for Sceptre Investment Counsel, on the sell-side as Equity Research Associate for Yorkton Securities, and prior to that, worked for State Street Trust Company in Toronto. He is currently working as an Equity Research Consultant for Mundus Investment Research. He is a graduate of Wilfrid Laurier University with an Honours degree in Economics and holds the Chartered Financial Analyst (CFA) designation.
Investrend Communications, Inc., has provided shareholder empowerment platforms — including broadcast, research, forums and information — for the benefit of the shareholders of more than 400 companies since its founding in 1996. Investrend Research has been the leading independent equity research publishing and distribution program, with over 65 AIMR-qualified professional analysts posting more than 450 reports to date. Investrend Broadcast has been a leading provider of webcast solutions for the shareholders of more than 500 public companies. Enrollment fees for the Investrend Research Institutional (continuous) coverage is listed at $1,950 per month, which is being paid by Retractable Technologies, Inc. Analysts are in turn paid by Investrend in advance for their initiation of coverage to eliminate or reduce pecuniary conflict.
Full details of the company’s policies and guidelines are posted on the Website at http://www.investrend.com.
Anyone interested in receiving alerts regarding Retractable Technologies should e-mail info@investrend.com with “RVP’ in the subject line.
