Boston, MA 06/03/2013 (wallstreetpr) – The share prices of Uroplasty Inc. (NASDAQ:UPI) had surged by 18.83 percent to close at $2.65 per share for the end of last trading session on Friday. The shares of the company had been trading in the range of $2.40 to $2.95 per share for the day before closing at $0.42 higher than the previous closing price. The shares of Uroplasty Inc. (NASDAQ:UPI) had recorded a 52 week low price level of $1.90 per share and 52 week high price level of $4.78 per share.
Uroplasty Inc. (NASDAQ:UPI) is involved in the development, manufacture and marketing of products for the treatment of voiding dysfunctions. The company has its primary focus on two products – the Urgent PC Neuro modulation system which had been approved by the Food and Drug Administration of the United States and the Macroplastique Implants.
Uroplasty Inc. (NASDAQ:UPI) had recently announced that Wisconsin Physician Services will begin coverage of Posterior Tribial Nerve Stimulation for treatment of overactive bladder and associated symptoms of urinary urgency, urinary frequency and urge incontinence. This would take effect from June 01, 2013. The medical beneficiaries of Wisconsin Physicians Services will now be reimbursed for their PTNS treatments using Uroplasty’s Urgent PC Neuro modulation system.
The company presently holds 21.02 million shares outstanding in the market and the institutional ownership in Uroplasty Inc. (NASDAQ:UPI) is at 60 percent of its holdings. The shares of Uroplasty Inc. (NASDAQ:UPI) had been witnessing heavy trading volumes with nearly 467,561 shares being exchanged hands on Friday, while the average trading volume of the company is at 49,627 shares per day.
