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Precision dispensing equipment manufacturer, Nordson Corporation (NDSN - Free Report) recently announced that it has successfully completed the acquisition of Salem, NH-based Advanced Technologies business of Vention Medical. The buyout price was approximately $705 million in cash, financed through existing cash and debt.
Post the release of first-quarter fiscal 2017 (ended Jan 31, 2017) results on Feb 20, shares of Nordson Corporation yielded a 1.78% return, outperforming the gain of 1.15% recorded by the Zacks categorized Machinery General Industrial industry.
As revealed on Feb 20, Advanced Technologies specializes in designing, developing and manufacturing minimally invasive interventional delivery devices, catheters and advanced components for its large customer base in the global medical technology industry. For the 12 months ended Jan 31, 2017, this business’ sales totaled $150 million while its earnings before interest, tax, depreciation and amortization were $48 million. It employs approximately 775 people.
Nordson Corporation will integrate the acquired assets with its Advanced Technology Systems segment. The company anticipates that Advanced Technologies’ product line will complement its existing single-use fluid management components, biomaterial delivery devices, and high end cannula and tubing. The company anticipates the acquired assets to boost its sales and earnings going forward. It predicts 5 cents to 10 cents per share earnings accretion in fiscal 2017.
We believe the acquisition is consistent with Nordson Corporation’s expansionary policy. In the fiscal first quarter, benefits from acquired assets added 1% to revenue growth. The company anticipates total sales to grow 3−7% year over year in fiscal second quarter, including organic growth of 3−7%, 2% acquisition growth and 2% negative impact of forex woes. Earnings are expected within $1.21−$1.33 per share.
Zacks Rank & Stocks to Consider
With a market capitalization of nearly $7 billion, Nordson Corporation currently carries a Zacks Rank #3 (Hold). Over the last 60 days, the Zacks Consensus Estimate for the stock increased 4.6% to $5.23 per share for fiscal 2017 and 7.1% to $5.77 per share for fiscal 2018.
Some better-ranked stocks in the machinery industry include Roper Technologies, Inc. (ROP - Free Report) , Barnes Group, Inc. (B - Free Report) and Broadwind Energy, Inc. (BWEN - Free Report) . While Roper Technologies sports a Zacks Rank #1 (Strong Buy), both Roper Technologies and Barnes Group carry a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Roper Technologies’ financial performance was impressive, with an average positive earnings surprise of 0.92% for the last four quarters. Also, earnings estimates for 2017 and 2018 were revised upward over the last 60 days.
Barnes Group reported better-than-expected results in the last four quarters, with an average positive earnings surprise of 4.36%. Also, its earnings estimates for 2017 and 2018 improved in the last 60 days.
Broadwind Energy’s earnings estimates for 2017 improved over the last 60 days.
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Nordson Acquires Vention Medical's Advanced Technologies
Precision dispensing equipment manufacturer, Nordson Corporation (NDSN - Free Report) recently announced that it has successfully completed the acquisition of Salem, NH-based Advanced Technologies business of Vention Medical. The buyout price was approximately $705 million in cash, financed through existing cash and debt.
Post the release of first-quarter fiscal 2017 (ended Jan 31, 2017) results on Feb 20, shares of Nordson Corporation yielded a 1.78% return, outperforming the gain of 1.15% recorded by the Zacks categorized Machinery General Industrial industry.
As revealed on Feb 20, Advanced Technologies specializes in designing, developing and manufacturing minimally invasive interventional delivery devices, catheters and advanced components for its large customer base in the global medical technology industry. For the 12 months ended Jan 31, 2017, this business’ sales totaled $150 million while its earnings before interest, tax, depreciation and amortization were $48 million. It employs approximately 775 people.
Nordson Corporation will integrate the acquired assets with its Advanced Technology Systems segment. The company anticipates that Advanced Technologies’ product line will complement its existing single-use fluid management components, biomaterial delivery devices, and high end cannula and tubing. The company anticipates the acquired assets to boost its sales and earnings going forward. It predicts 5 cents to 10 cents per share earnings accretion in fiscal 2017.
We believe the acquisition is consistent with Nordson Corporation’s expansionary policy. In the fiscal first quarter, benefits from acquired assets added 1% to revenue growth. The company anticipates total sales to grow 3−7% year over year in fiscal second quarter, including organic growth of 3−7%, 2% acquisition growth and 2% negative impact of forex woes. Earnings are expected within $1.21−$1.33 per share.
Zacks Rank & Stocks to Consider
With a market capitalization of nearly $7 billion, Nordson Corporation currently carries a Zacks Rank #3 (Hold). Over the last 60 days, the Zacks Consensus Estimate for the stock increased 4.6% to $5.23 per share for fiscal 2017 and 7.1% to $5.77 per share for fiscal 2018.
Some better-ranked stocks in the machinery industry include Roper Technologies, Inc. (ROP - Free Report) , Barnes Group, Inc. (B - Free Report) and Broadwind Energy, Inc. (BWEN - Free Report) . While Roper Technologies sports a Zacks Rank #1 (Strong Buy), both Roper Technologies and Barnes Group carry a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Roper Technologies’ financial performance was impressive, with an average positive earnings surprise of 0.92% for the last four quarters. Also, earnings estimates for 2017 and 2018 were revised upward over the last 60 days.
Barnes Group reported better-than-expected results in the last four quarters, with an average positive earnings surprise of 4.36%. Also, its earnings estimates for 2017 and 2018 improved in the last 60 days.
Broadwind Energy’s earnings estimates for 2017 improved over the last 60 days.
Zacks’ Best Private Investment Ideas
In addition to the recommendations that are available to the public on our website, how would you like to follow all Zacks' private buys and sells in real time?
Our experts cover all kinds of trades… from value to momentum . . . from stocks under $10 to ETF and option moves . . . from stocks that corporate insiders are buying up to companies that are about to report positive earnings surprises. You can even look inside exclusive portfolios that are normally closed to new investors. Starting today, for the next month, you can have unrestricted access. Click here for Zacks' private trades >>