FDA clears Volcano's (VOLC) instant wave-Free Ratio. The physiologic measurement utilizes the same pressure wire and equipment used in cath labs but eliminates the injection of hyperemic agents into the patient that can stress the heart.
The regulatory approval means that 90% of the company's installed base of multi-modality systems can be upgraded.
Consensus estimates for 2014 and 2015 are a loss of $0.19/share on revenues of $415M and earnings of $0.06/share on revenues of $448M, respectively.
253 mutual funds have positions, down from 330 a year earlier.
Shares are up 3% year to date.