TomoTherapy is Radiating Optimism
Posted: June 26, 2010 - 2:00 PM
By JUDY NEWMAN | jdnewman@madison.com | 608-252-6156
TomoTherapy is hoping the sun will shine on the company during the second half of 2010.
With several new formats for its specialized cancer treatment radiation technology and the nation’s economy trying to emerge from a recession, things could align in TomoTherapy’s favor, company officials said.
And it would be none too soon, after a couple of difficult years during which competition increased and hospitals cut back on major equipment purchases.
Considered a star in Madison’s high-tech economy, TomoTherapy’s luster has paled a bit. The company trimmed employment twice, eliminating nearly 150 jobs. The company now has about 600 employees, half of them in Madison.
Its stock price, which traded as high as $27 a share shortly after its 2007 initial public offering on the Nasdaq market, has been below $5 for the last 52 weeks. Research analysts are cautious about the stock, giving it a 3.0 recommendation, comparable to a “neutral” or “hold” on the stock, with an average $4 projected share price, according to Thomson/First Call.
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