Cantor Fitzgerald Downgrades Obagi Medical Products (OMPI) to Hold; Slowing Growth and Speculation
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Price: $23.98 --0%
Rating Summary:
0 Buy, 5 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 11 | Down: 18 | New: 13
Rating Summary:
0 Buy, 5 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 11 | Down: 18 | New: 13
Trade OMPI Now!
Cantor Fitzgerald downgraded Obagi Medical Products (NASDAQ: OMPI) from Buy to Hold with a price target of $15.00.
Analyst, Irina Rivkind, said, "Obagi reported GAAP revenues of $30.5M and EPS of $0.18 vs. consensus estimates of $30.4M and $0.14. Revenue expectations were met due to a one-time channel fill of a newly launching product in Japan while earnings were boosted due to delayed spending on the e-pharmacy initiative and lower COGS...Deal speculation should temper for now and may lead to a negative stock reaction...Mgmt. stated that it has not hired advisers and has nothing new to report regarding its activist investor. We think the stock has been driven primarily by deal speculation since the poison pill was voted down and believe that discouraged retail investors could pull out of the story."
For an analyst ratings summary and ratings history on Obagi Medical Products click here. For more ratings news on Obagi Medical Products click here.
Shares of Obagi Medical Products closed at $15.00 yesterday, with a 52 week range of $8.79-$18.00.
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Analyst, Irina Rivkind, said, "Obagi reported GAAP revenues of $30.5M and EPS of $0.18 vs. consensus estimates of $30.4M and $0.14. Revenue expectations were met due to a one-time channel fill of a newly launching product in Japan while earnings were boosted due to delayed spending on the e-pharmacy initiative and lower COGS...Deal speculation should temper for now and may lead to a negative stock reaction...Mgmt. stated that it has not hired advisers and has nothing new to report regarding its activist investor. We think the stock has been driven primarily by deal speculation since the poison pill was voted down and believe that discouraged retail investors could pull out of the story."
For an analyst ratings summary and ratings history on Obagi Medical Products click here. For more ratings news on Obagi Medical Products click here.
Shares of Obagi Medical Products closed at $15.00 yesterday, with a 52 week range of $8.79-$18.00.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
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