NEW YORK (MarketWatch) -- Immucor Inc. (BLUD) said Tuesday the U.S. Food and Drug Administration has cleared Galileo Echo for marketing in the U.S. as of June 14. Echo, Immucor's third generation automated assay instrument, is a compact bench top, fully automated walk-away instrument for the small to medium sized hospital blood bank transfusion laboratory. The company believes the worldwide total available market for Echo is approximately 6,000.

Substantial growth prospects for this stock. Once a hospital adopts Immucor's testing machine, they are committed to buy Immucor's reagents. Current PE ratio is fully justified.