Value Stock: VNUS, Good buy or trouble?

I recently came across VNUS in a screen I ran. It's a medical devices company with a 1000M market cap. It seems to have positive, growing earnings, no debt, and half its market cap is in cash and cash equivalents. On the other hand, it recently missed its revenue projections and guided down for the year. Is this just a cash heavy stock that is struggling to grow, or is it a value long term? Any value oriented investers want to rip it apart?
Matt