Filed under: Earnings reports, Analyst upgrades and downgrades, General Electric (GE), Technical Analysis, Stocks to Buy

Analogic Corporation (NASDAQ: ALOG) designs and manufactures medical and security imaging processing systems, primarily for original equipment manufacturers. Its devices are used in such products as magnetic resonance imagers, ultrasound transducers, checked luggage scanners and explosives detection systems. Major customers include L-3 Communications (NYSE: LLL), Philips (NYSE: PHG) and General Electric (NYSE: GE).

The company pleased investors last week, when it reported fiscal Q2 EPS of 54 cents and revenues of $99.4 million. Analysts had been looking for 53 cents and $95.9 million. Management also agreed to buy MRI parts maker Copley Controls for $68.8 million. Analogic said the acquisition would expand product offerings and add business from Asia. This year alone, the move was expected to gain over $85 million in revenue. Needham subsequently upgraded the shares from “hold” to “buy”.

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