Canaccord Genuity Begins Coverage on Sientra, Inc. (SIEN)
Canaccord Genuity started coverage on shares of Sientra, Inc. (NASDAQ:SIEN) in a report issued on Monday morning, MarketBeat Ratings reports. The firm issued a buy rating and a $14.00 price objective on the medical instruments supplier’s stock.
Several other brokerages have also commented on SIEN. Zacks Investment Research lowered Sientra from a hold rating to a sell rating in a research report on Tuesday, August 15th. ValuEngine upgraded Sientra from a sell rating to a hold rating in a research report on Thursday, June 22nd. Lake Street Capital reiterated a buy rating and issued a $15.00 target price (up previously from $11.00) on shares of Sientra in a research report on Tuesday, August 8th. Finally, Stephens initiated coverage on Sientra in a research report on Tuesday, July 11th. They issued an overweight rating and a $12.00 target price for the company. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and three have issued a buy rating to the company. The stock presently has an average rating of Hold and an average price target of $13.67.
Shares of Sientra (SIEN) opened at 11.22 on Monday. Sientra has a 12-month low of $6.92 and a 12-month high of $11.54. The stock has a 50 day moving average of $10.63 and a 200-day moving average of $9.08. The company’s market capitalization is $216.61 million.
Sientra (NASDAQ:SIEN) last posted its quarterly earnings data on Wednesday, August 9th. The medical instruments supplier reported ($0.55) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.59) by $0.04. The company had revenue of $8.20 million for the quarter, compared to the consensus estimate of $6.97 million. Sientra had a negative return on equity of 52.30% and a negative net margin of 173.83%. Sientra’s quarterly revenue was up 32.3% compared to the same quarter last year. Analysts predict that Sientra will post ($3.04) earnings per share for the current fiscal year.
Several hedge funds and other institutional investors have recently modified their holdings of the company. Cannell Capital LLC raised its position in shares of Sientra by 2.3% in the first quarter. Cannell Capital LLC now owns 1,139,571 shares of the medical instruments supplier’s stock valued at $9,595,000 after buying an additional 26,000 shares during the last quarter. Gilder Gagnon Howe & Co. LLC raised its position in Sientra by 36.3% in the second quarter. Gilder Gagnon Howe & Co. LLC now owns 1,114,511 shares of the medical instruments supplier’s stock worth $10,833,000 after buying an additional 296,902 shares in the last quarter. Ameriprise Financial Inc. raised its position in Sientra by 18.0% in the first quarter. Ameriprise Financial Inc. now owns 659,859 shares of the medical instruments supplier’s stock worth $5,555,000 after buying an additional 100,445 shares in the last quarter. Vanguard Group Inc. raised its position in Sientra by 11.2% in the second quarter. Vanguard Group Inc. now owns 590,311 shares of the medical instruments supplier’s stock worth $5,737,000 after buying an additional 59,546 shares in the last quarter. Finally, Cloverdale Capital Management LLC raised its position in Sientra by 28.9% in the second quarter. Cloverdale Capital Management LLC now owns 492,237 shares of the medical instruments supplier’s stock worth $4,785,000 after buying an additional 110,495 shares in the last quarter. Institutional investors own 77.61% of the company’s stock.
Sientra, Inc is a medical aesthetics company. The Company’s primary products are silicone gel breast implants for use in breast augmentation and breast reconstruction procedures, which it offers in over 190 variations of shapes, sizes and textures. The Company sells its breast implants and breast tissue expanders, or breast products to plastic surgeons.
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