Investrend Announces Investment Opinion: Retractable Technologies Strong Buy and $12.60 Target Initiated by Investrend Research Analyst Sherry Grisewood, CFA
NEW YORK–(BUSINESS WIRE)–Sept. 24, 2001–Investrend Research (http://www.investrend.com) analyst Sherry Grisewood, CFA, has initiated coverage of Retractable Technologies, Inc. (AMEX:RVP – news), with a Strong Buy recommendation and one year price target of $12.60. The full report has been initially posted at http://investrend.tripod.com/.
According to Grisewood, “Retractable Technologies Inc.’s (Retractable’s) singular focus is to bring increased safety to the healthcare industry by designing, developing, manufacturing and marketing patented, cost effective and convenient-to-use safe engineered sharps devices. The Centers for Disease Control and Prevention reports that between 800,000 and 1 million accidental needlesticks occur annually in the U.S., with over 65% likely to go unreported. Accidental needlesticks are the primary source of hepatitis, HIV and other infectious disease contamination for healthcare workers. There are more than 20 bloodborne pathogens that are transmittable by contaminated needlesticks. Over 6.6 billion syringes are used each year in the United States, about 1/4 of the estimated 24 billion unit consumption worldwide.”
“Retractable addresses this significant healthcare problem with its patented VanishPoint safety syringes and devices. The ECRI, formerly known as the Emergency Care Research Institute, gave Retractable’s VanishPoint syringe and tube holder its highest possible rating in 1999. Retractable’s VanishPoint syringes incorporates a patented needle retraction system that not only prevents reuse, but also completely protects the practitioner from accidental needle sticks by fully retracting the needle before the syringe is removed from the patient. Although many patents have been filed and issued, and a variety of safety syringes developed in the research labs, we believe Retractable is the only pure-play company commercially selling fully retractable safety syringes in quantity and generating meaningful revenue from these sales. We are initiating a strong buy opinion on Retractable based upon recent federal legislation and mandates driving market expansion for safety engineered sharps devices and Retractable’s shares being substantially undervalued relative to its competitors.”
Sherry Grisewood, CFA, has had extensive experience as a sell-side analyst, and has worked for such firms as DLJ and EF Hutton. She has over 16 years experience as an independent special situations and small cap analyst, and has written a cash and futures market commentary since 1982. She has performed extensive analysis for investment banking projects and currently has her own practice working on securities analysis. Grisewood holds a B.S. degree with Highest Honors from Ramapo College of New Jersey, is a member of NYSSA, and is one of more than 30 professional analysts qualified into the Investrend Independent Research program since its inception in 1996.
Investrend Research has been a leading independent, professional fee-based institutional publishing and distribution program since 1996. Fee-based research has recently been championed by Congress and media such as the New York Times as a preferable alternative to research tied to investment banking. Anyone, including a company, investor relations practitioner, financial institution or interested private investor, may enroll a company for analyst coverage. Analysts are paid in advance for initial reports to eliminate pecuniary interests, and are contractually responsible only to the public, following AIMR standards and ethics. To further eliminate conflicts, neither the analysts, Investrend nor any employees may own or trade in the equities of companies for which reports have been initiated. Three-year enrollment fees are $21,300 for the first year, $19,500 for year 2 and $17,200 for year 3. Please read the disclaimers and coverage guidelines at http://www.investrend.com before investing.
Contact:
Investrend Research Div.
Investrend Communications, Inc.
512/452-4958
info@investrend.com
or
Retractable Technologies, Inc.
Douglas W. Cowan
888/806-2626 or 972/294-1010
rtifinancial@vanishpoint.com
According to Grisewood, “Retractable Technologies Inc.’s (Retractable’s) singular focus is to bring increased safety to the healthcare industry by designing, developing, manufacturing and marketing patented, cost effective and convenient-to-use safe engineered sharps devices. The Centers for Disease Control and Prevention reports that between 800,000 and 1 million accidental needlesticks occur annually in the U.S., with over 65% likely to go unreported. Accidental needlesticks are the primary source of hepatitis, HIV and other infectious disease contamination for healthcare workers. There are more than 20 bloodborne pathogens that are transmittable by contaminated needlesticks. Over 6.6 billion syringes are used each year in the United States, about 1/4 of the estimated 24 billion unit consumption worldwide.”
“Retractable addresses this significant healthcare problem with its patented VanishPoint safety syringes and devices. The ECRI, formerly known as the Emergency Care Research Institute, gave Retractable’s VanishPoint syringe and tube holder its highest possible rating in 1999. Retractable’s VanishPoint syringes incorporates a patented needle retraction system that not only prevents reuse, but also completely protects the practitioner from accidental needle sticks by fully retracting the needle before the syringe is removed from the patient. Although many patents have been filed and issued, and a variety of safety syringes developed in the research labs, we believe Retractable is the only pure-play company commercially selling fully retractable safety syringes in quantity and generating meaningful revenue from these sales. We are initiating a strong buy opinion on Retractable based upon recent federal legislation and mandates driving market expansion for safety engineered sharps devices and Retractable’s shares being substantially undervalued relative to its competitors.”
Sherry Grisewood, CFA, has had extensive experience as a sell-side analyst, and has worked for such firms as DLJ and EF Hutton. She has over 16 years experience as an independent special situations and small cap analyst, and has written a cash and futures market commentary since 1982. She has performed extensive analysis for investment banking projects and currently has her own practice working on securities analysis. Grisewood holds a B.S. degree with Highest Honors from Ramapo College of New Jersey, is a member of NYSSA, and is one of more than 30 professional analysts qualified into the Investrend Independent Research program since its inception in 1996.
Investrend Research has been a leading independent, professional fee-based institutional publishing and distribution program since 1996. Fee-based research has recently been championed by Congress and media such as the New York Times as a preferable alternative to research tied to investment banking. Anyone, including a company, investor relations practitioner, financial institution or interested private investor, may enroll a company for analyst coverage. Analysts are paid in advance for initial reports to eliminate pecuniary interests, and are contractually responsible only to the public, following AIMR standards and ethics. To further eliminate conflicts, neither the analysts, Investrend nor any employees may own or trade in the equities of companies for which reports have been initiated. Three-year enrollment fees are $21,300 for the first year, $19,500 for year 2 and $17,200 for year 3. Please read the disclaimers and coverage guidelines at http://www.investrend.com before investing.
Contact:
Investrend Research Div.
Investrend Communications, Inc.
512/452-4958
info@investrend.com
or
Retractable Technologies, Inc.
Douglas W. Cowan
888/806-2626 or 972/294-1010
rtifinancial@vanishpoint.com