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The company announced that its board approved the repurchase of up to $250 million in common stock over the next two years. They have approximately 54.2 million shares outstanding.

Based out of San Diego, this company makes diagnostic products used to detect various infections and diseases. As of June 30, 2008, the company had $499.2 million in cash and equivalents and no debt.

“Based on our healthy balance sheet and strong operating cash flows, we believe we can increase long-term shareholder value and offset dilution from employee stock programs by buying back stock,” said Herm Rosenman, Gen-Probe's senior vice president and CFO.

On July 31, 2008 the company reported pretty solid second-quarter results with product sales jumping 21% to $113.7 million from $93.9 million in the same period last year. Total revenue surged to $119.8
million from $101.3 million, an increase of 18%. They earned a profit of $24.8 million, or 45 cents a share, compared with $27 million, or 50 cents a share in the year-ago period. The lower net income can be attributed to an unusually low tax rate in the prior year period.

The company forecasts full-year EPS of $1.83 to $1.87 a share and total revenue between $467 million and $472 million.

Cowen and Company issued a bullish report on GPRO noting the FDA approval of their supplemental BLA for the Ultrio screening claim. They said that US Ultrio represents one of the most important growth drivers for GPRO in the 2009-2010 timeframe. They reiterated their outperform rating on the stock.

The company announced that its board approved the repurchase of up to $250 million in common stock over the next two years. They have approximately 54.2 million shares outstanding.

Based out of San Diego, this company makes diagnostic products used to detect various infections and diseases. As of June 30, 2008, the company had $499.2 million in cash and equivalents and no debt.

“Based on our healthy balance sheet and strong operating cash flows, we believe we can increase long-term shareholder value and offset dilution from employee stock programs by buying back stock,” said Herm Rosenman, Gen-Probe's senior vice president and CFO.

On July 31, 2008 the company reported pretty solid second-quarter results with product sales jumping 21% to $113.7 million from $93.9 million in the same period last year. Total revenue surged to $119.8
million from $101.3 million, an increase of 18%. They earned a profit of $24.8 million, or 45 cents a share, compared with $27 million, or 50 cents a share in the year-ago period. The lower net income can be attributed to an unusually low tax rate in the prior year period.

The company forecasts full-year EPS of $1.83 to $1.87 a share and total revenue between $467 million and $472 million.

Cowen and Company issued a bullish report on GPRO noting the FDA approval of their supplemental BLA for the Ultrio screening claim. They said that US Ultrio represents one of the most important growth drivers for GPRO in the 2009-2010 timeframe. They reiterated their outperform rating on the stock.

From a recent Mad Money show:

"The biotechs are going to be flush with money. We like the medical device companies. I think they've bottomed. I want to buy it right here."

From a recent Mad Money show:

"The biotechs are going to be flush with money. We like the medical device companies. I think they've bottomed. I want to buy it right here."

Gen-Probe (GPRO) was downgraded from Overweight to Market-Weight Thomas Weisel said. Pipeline visibility has decreased, and revenue growth is slowing for the third straight year. Estimates also cut. $65 price target.

BUY

5.6 4.31%

just getting started and looked like a decent stock to get involved with.

growth