Home System concept Venus Concept (NASDAQ:VERO) raised to “buy” at Zacks Investment Research

Venus Concept (NASDAQ:VERO) raised to “buy” at Zacks Investment Research


Venus Concept (NASDAQ:VERO) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note released Tuesday to investors, Zacks.com reports. The company currently has a price target of $2.00 on the stock. Zacks Investment Research’s price target would point to a potential decline of 0.99% from the stock’s previous close.

According to Zacks, “Venus Concept Inc. designs and develops medical aesthetic equipment. The company’s product portfolio consists of aesthetic device platforms including Venus Versa(TM), Venus Legacy(TM), Venus Velocity(TM), Venus Fiore(TM), Venus Viva(TM), Venus Freeze Plus(TM) and Venus Bliss(TM) It also provides NeoGraft(R), an automated hair restoration system, ARTAS(R) and ARTAS Ix(TM) Robotic Hair Restoration Systems. Concept Inc., formerly known as Restoration Robotics Inc., is based in TORONTO.”

Separately, Stifel Nicolaus reduced his price target on Venus Concept from $2.50 to $2.00 and set a “hold” rating on the stock in a Friday, November 12 research note.

NASDAQ VERO shares rose $0.22 during Tuesday’s trading, hitting $2.02. 6,967 shares of the stock traded in hands, compared to its average volume of 128,900. Venus Concept has a 52-week low of $1.17 and a 52-week high of $3.44. The company has a debt ratio of 2.67, a current ratio of 3.24 and a quick ratio of 2.52. The company has a 50-day moving average of $1.60 and a 200-day moving average of $2.05. The stock has a market capitalization of $109.41 million, a P/E ratio of -2.99 and a beta of 2.31.

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Venus Concept Inc (NASDAQ:VERO) last released its quarterly results on Friday, November 12. The company reported ($0.18) EPS for the quarter, missing analyst consensus estimates of ($0.12) by ($0.06). Venus Concept had a negative net margin of 33.76% and a negative return on equity of 85.75%. The company posted revenue of $24.56 million for the quarter, versus $26.66 million expected by analysts. During the same period of the previous year, the company achieved EPS of ($0.18). Analysts expect Venus Concept to post -0.5 earnings per share for the current fiscal year.

In other Venus Concept news, major shareholder Healthquest Partners Ii, LP purchased 1,600,000 shares of the company in a transaction on Wednesday, December 15. The shares were acquired at an average cost of $1.25 per share, for a total transaction of $2,000,000.00. The acquisition was disclosed in a filing with the SEC, accessible via this hyperlink. Additionally, insider Ross Portaro bought 30,000 shares of the company in a trade on Friday, Dec. 3. The shares were acquired at an average price of $1.35 per share, for a total transaction of $40,500.00. Disclosure of this purchase can be found here. During the last quarter, insiders purchased 1,800,000 shares of the company worth $2,266,960. 44.07% of the shares are currently held by company insiders.

A number of hedge funds and other institutional investors have recently changed their positions in the company. Tibra Equities Europe Ltd bought a new position in shares of Venus Concept during the 2nd quarter, valued at approximately $255,000. Dimensional Fund Advisors LP increased its position in Venus Concept shares by 29.8% during the second quarter. Dimensional Fund Advisors LP now owns 116,052 shares of the company valued at $361,000 after purchasing an additional 26,629 shares in the last quarter. Boothbay Fund Management LLC bought a new position in Venus Concept stock during Q2, valued at around $34,000. Deutsche Bank AG increased its position in Venus Concept shares by 396.7% during the second quarter. Deutsche Bank AG now owns 59,500 shares of the company valued at $185,000 after buying an additional 47,522 shares in the last quarter. Finally, Susquehanna Fundamental Investments LLC bought a new stock position in Venus Concept during Q2 valued at around $40,000. Institutional investors and hedge funds hold 54.50% of the company’s shares.

About Venus Concept

Venus Concept, Inc. develops, markets and provides minimally invasive and non-invasive medical aesthetics and hair restoration technologies and related practice enhancement services. Its product portfolio consists of aesthetic device platforms that include venus versa, venus legacy, venus velocity, venus fiore, venus viva, venus freeze plus and venus bliss.

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