Needham & Company Q2 Review on Obagi Medical Products (OMPI): Solid, Now Focus Shifts to New Growth Initiatives
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Price: $23.98 --0%
Rating Summary:
0 Buy, 4 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
0 Buy, 4 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
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Needham & Company maintains a 'Hold' on Obagi Medical Products (NASDAQ: OMPI).
Analyst, Elliot Wilbur, said, "OMPI followed up impressive 1Q12 results with a solid 2Q12 performance aided by the strongest net new account addition in nearly two years, largely due to a resumption of sales in Texas which contributed roughly a third of overall account adds. Despite another top-line beat and an unchanged full-year revenue outlook, management took a somewhat more cautious stance on expected 3Q12 top-line, guiding to revenues of $27.5MM-$28.5MM, levels not seen since 1Q10, vs. current consensus of $30.0MM."
"Bottom line – we like the story and management, fundamentals are improving and the company’s new direct distribution model (eliminates physician inventory management and working capital investment) could kick start growth but given the substantial acquisition premium embedded in the name, we remain on the sidelines."
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.
Analyst, Elliot Wilbur, said, "OMPI followed up impressive 1Q12 results with a solid 2Q12 performance aided by the strongest net new account addition in nearly two years, largely due to a resumption of sales in Texas which contributed roughly a third of overall account adds. Despite another top-line beat and an unchanged full-year revenue outlook, management took a somewhat more cautious stance on expected 3Q12 top-line, guiding to revenues of $27.5MM-$28.5MM, levels not seen since 1Q10, vs. current consensus of $30.0MM."
"Bottom line – we like the story and management, fundamentals are improving and the company’s new direct distribution model (eliminates physician inventory management and working capital investment) could kick start growth but given the substantial acquisition premium embedded in the name, we remain on the sidelines."
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.
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