Needham & Company Reiterates a 'Buy' on Solta Medical (SLTM); LipoSonix on Strong Start
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Price: $2.92 --0%
Rating Summary:
2 Buy, 5 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
2 Buy, 5 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
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Needham & Company reiterates a 'Buy' on Solta Medical (NASDAQ: SLTM) price target of $4.50 (from $4.00).
Analyst, Dalton Chandler, said, "The strong start to the LipoSonix continued into the second quarter of sales as SLTM booked $9.4 M of associated revenue and 98 unit sales, up from $7.2 M and 78 last quarter. These strong results prompted a revaluation of the contingent purchase price owed to MDX, increasing it by $26.0 M to a total of $58.5 m over seven years and implying that sales are well ahead of initial expectations. It’s still early, but SLTM appears to have another major hit product." (FY12 loss lowered from (0.17) to (0.59)
For an analyst ratings summary and ratings history on Solta Medical click here. For more ratings news on Solta Medical click here.
Shares of Solta Medical closed at $3.31 yesterday.
Analyst, Dalton Chandler, said, "The strong start to the LipoSonix continued into the second quarter of sales as SLTM booked $9.4 M of associated revenue and 98 unit sales, up from $7.2 M and 78 last quarter. These strong results prompted a revaluation of the contingent purchase price owed to MDX, increasing it by $26.0 M to a total of $58.5 m over seven years and implying that sales are well ahead of initial expectations. It’s still early, but SLTM appears to have another major hit product." (FY12 loss lowered from (0.17) to (0.59)
For an analyst ratings summary and ratings history on Solta Medical click here. For more ratings news on Solta Medical click here.
Shares of Solta Medical closed at $3.31 yesterday.
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