Biosite at sector perform by RBC

RBC Capital Markets analyst William R. Quirk rated Biosite, Inc. at sector perform, above average risk, after the company reported revenue growth of 5.4% to $77.8 million, in line with RBC's $77.6 million estimate, but below Street consensus expectations of $78.8 million. Non-GAAP adjusted earnings per share of $0.70 was 1 cent below the analyst's estimate and 2 cents below the Street. Biosite's pipeline is one of the more attractive in diagnostics but coupled with near-term growth that appears challenging, according to the analyst. Shares of the San Diego-based diagnostics products company were down $5.35, or 11.86%, at $39.75 on volume of 1,1877,721 shares versus the three-month running average of 292,244 shares. (Nasdaq: BSTE)

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