Zeltiq Aesthetics Inc. (ZLTQ) Shares Down 2.9% After Insider Selling
Zeltiq Aesthetics Inc. (NASDAQ:ZLTQ) traded down 2.9% during mid-day trading on Friday following insider selling activity. The stock traded as low as $39.22 and last traded at $39.66, with a volume of 590,564 shares. The stock had previously closed at $40.83.
Specifically, Director Andrew N. Schiff sold 500,000 shares of the business’s stock in a transaction dated Thursday, August 11th. The stock was sold at an average price of $36.39, for a total value of $18,195,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Kevin C. Oboyle sold 17,500 shares of the business’s stock in a transaction dated Tuesday, August 9th. The shares were sold at an average price of $37.86, for a total value of $662,550.00. Following the completion of the transaction, the director now directly owns 17,630 shares of the company’s stock, valued at approximately $667,471.80. The disclosure for this sale can be found here. 15.60% of the stock is owned by insiders.
A number of equities analysts recently weighed in on ZLTQ shares. Zacks Investment Research cut Zeltiq Aesthetics from a “hold” rating to a “sell” rating in a report on Thursday, July 14th. Leerink Swann reaffirmed an “outperform” rating and issued a $48.00 price target (up previously from $43.00) on shares of Zeltiq Aesthetics in a report on Thursday, August 11th. Brean Capital set a $39.00 price target on Zeltiq Aesthetics and gave the stock a “buy” rating in a report on Tuesday, August 9th. JPMorgan Chase & Co. reaffirmed a “hold” rating and issued a $35.00 price target (up previously from $27.00) on shares of Zeltiq Aesthetics in a report on Tuesday, August 9th. Finally, Stifel Nicolaus upped their price target on Zeltiq Aesthetics from $38.00 to $52.00 and gave the stock a “buy” rating in a report on Wednesday, September 21st. Three research analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. Zeltiq Aesthetics presently has an average rating of “Buy” and a consensus target price of $39.89.
The stock’s 50 day moving average price is $39.20 and its 200-day moving average price is $32.39. The company has a market capitalization of $1.56 billion, a price-to-earnings ratio of 59.35 and a beta of 0.79.
Zeltiq Aesthetics (NASDAQ:ZLTQ) last issued its quarterly earnings data on Monday, August 8th. The company reported ($0.12) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.05) by $0.07. Zeltiq Aesthetics had a negative return on equity of 9.90% and a net margin of 9.54%. The company had revenue of $89.50 million for the quarter, compared to analyst estimates of $79.68 million. During the same quarter in the prior year, the firm earned $0.03 earnings per share. The company’s revenue for the quarter was up 38.9% on a year-over-year basis. Equities research analysts predict that Zeltiq Aesthetics Inc. will post ($0.13) EPS for the current fiscal year.
Several hedge funds and other institutional investors have recently modified their holdings of the company. Samlyn Capital LLC bought a new position in shares of Zeltiq Aesthetics during the first quarter valued at about $29,100,000. BlackRock Fund Advisors boosted its stake in Zeltiq Aesthetics by 134.5% in the first quarter. BlackRock Fund Advisors now owns 2,098,036 shares of the company’s stock valued at $56,983,000 after buying an additional 1,203,254 shares during the last quarter. Deerfield Management Co. purchased a new stake in Zeltiq Aesthetics during the first quarter valued at approximately $29,996,000. Prudential Financial Inc. purchased a new stake in Zeltiq Aesthetics during the first quarter valued at approximately $2,049,000. Finally, RS Investment Management Co. LLC boosted its stake in Zeltiq Aesthetics by 35.3% in the second quarter. RS Investment Management Co. LLC now owns 1,056,821 shares of the company’s stock valued at $28,883,000 after buying an additional 275,499 shares during the last quarter.
Zeltiq Aesthetics Company Profile
ZELTIQ Aesthetics, Inc is a medical technology company. The Company focuses on developing and commercializing products utilizing its controlled-cooling technology platform. Its product, the CoolSculpting System, is designed to reduce stubborn fat bulges. It sell the CoolSculpting system primarily to dermatologists, plastic surgeons, aesthetic specialists, and obstetrics and gynecology physicians.
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