ArthroCare Cuts Costs, Buy Rating Maintained

ArthroCare (NASDAQ: ARTC) released 2Q revenue numbers of $88.8 vs. Jefferies estimate of $86.7, with softer margins than expected but ARTC has done maintenance on its finances, allowing it to report EPS of $0.22, $0.06 higher than estimates. Jefferies maintains its "buy" rating and price target of $35, citing that new product sales remain slow, but expenses are under control and soon there will be new information on DOJ and SEC investigations. ArthroCare closed yesterday at $28.20. See Some of the Top Moving Indexes Here.