Zacks Investment Research Upgrades Sientra (SIEN) to Hold

Sientra (NASDAQ:SIEN) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report released on Wednesday.

According to Zacks, “Sientra, Inc. is a medical aesthetics company. The Company offers plastic surgery implantable devices for cosmetic and reconstructive surgery, including Breast Implants, Tissue Expanders, Body Contouring, Implants and Specialty Products. Sentra’s primary products are silicone gel breast implants for use in breast augmentation and breast reconstruction procedures. It also offers a range of other aesthetic and specialty products. Sientra, Inc. is headquartered in Santa Barbara, California. “

Several other brokerages have also recently issued reports on SIEN. BidaskClub cut shares of Sientra from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, July 31st. Canaccord Genuity upped their price objective on shares of Sientra from $19.00 to $25.00 and gave the stock a “buy” rating in a report on Wednesday, August 8th. Stifel Nicolaus upped their price objective on shares of Sientra from $21.00 to $25.00 and gave the stock a “buy” rating in a report on Wednesday, August 8th. Stephens reiterated a “buy” rating and set a $30.00 target price on shares of Sientra in a report on Thursday, August 9th. Finally, Dougherty & Co initiated coverage on shares of Sientra in a report on Thursday, August 30th. They set a “buy” rating and a $31.00 target price on the stock. One investment analyst has rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the stock. Sientra presently has an average rating of “Buy” and a consensus target price of $22.50.

Shares of SIEN opened at $21.33 on Wednesday. The firm has a market cap of $608.07 million, a PE ratio of -7.56 and a beta of -0.37. The company has a debt-to-equity ratio of 0.27, a quick ratio of 2.63 and a current ratio of 3.06. Sientra has a 1-year low of $8.79 and a 1-year high of $26.79.

Sientra (NASDAQ:SIEN) last posted its earnings results on Tuesday, November 6th. The medical instruments supplier reported ($0.72) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.67) by ($0.05). The business had revenue of $16.90 million for the quarter, compared to analyst estimates of $16.66 million. Sientra had a negative net margin of 131.16% and a negative return on equity of 151.47%. The company’s revenue for the quarter was up 72.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($0.74) earnings per share. Sell-side analysts anticipate that Sientra will post -2.93 EPS for the current fiscal year.

In other Sientra news, CEO Jeffrey M. Nugent sold 1,852 shares of the business’s stock in a transaction on Friday, August 31st. The shares were sold at an average price of $24.90, for a total transaction of $46,114.80. Following the completion of the sale, the chief executive officer now owns 297,999 shares in the company, valued at $7,420,175.10. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 31.00% of the company’s stock.

A number of institutional investors and hedge funds have recently made changes to their positions in SIEN. Metropolitan Life Insurance Co. NY acquired a new position in Sientra during the second quarter valued at approximately $160,000. Accredited Investors Inc. bought a new position in Sientra in the third quarter worth $200,000. Tarbox Family Office Inc. lifted its position in Sientra by 595.3% in the third quarter. Tarbox Family Office Inc. now owns 9,734 shares of the medical instruments supplier’s stock worth $232,000 after purchasing an additional 8,334 shares during the period. Commonwealth Equity Services LLC bought a new position in Sientra in the second quarter worth $210,000. Finally, MetLife Investment Advisors LLC bought a new position in Sientra in the second quarter worth $226,000. Hedge funds and other institutional investors own 89.62% of the company’s stock.

About Sientra

Sientra, Inc, a medical aesthetics company, develops and sells medical aesthetics products to plastic surgeons in the United States. It operates through two segments, Breast Products and miraDry. The company offers silicone gel breast implants for use in breast augmentation and breast reconstruction procedures; breast tissue expanders; and scar management products under the Sientra, AlloX2, Dermaspan, Softspan, and BIOCORNEUM brand names.

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