Senseonics Holdings Inc (SENS) Rating Reiterated by Canaccord Genuity
Senseonics Holdings Inc (NASDAQ:SENS)‘s stock had its “buy” rating restated by equities research analysts at Canaccord Genuity in a research report issued to clients and investors on Wednesday.
The analysts wrote, “We maintain our BUY rating following Q3/17 results that demonstrated continued strong commercial momentum of Eversense in Europe. Q3/17 revenues of $2.1M were well ahead of our Street-high estimate of $1.7M and consensus of $1.5M. As anticipated, Senseonics benefited from a meaningful acceleration in OUS sales as Senseonics continued to execute in its core markets (Germany, Italy, Sweden), had 4 additional countries transition from pilot to full commercial launch, and added an additional 6 geographies. Offsetting strong OUS execution was the announcement that the timelines for US regulatory approval have slipped and the company now expects a PMA panel in the Q1/18, which likely delays US market entry to mid-2018.””
Separately, Zacks Investment Research lowered shares of Senseonics Holdings from a “hold” rating to a “sell” rating in a report on Wednesday, August 9th.
Senseonics Holdings (NASDAQ:SENS) last announced its quarterly earnings data on Tuesday, October 31st. The company reported ($0.13) earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of ($0.13). The company had revenue of $2.10 million for the quarter, compared to analysts’ expectations of $1.51 million. The company’s quarterly revenue was up 425.0% on a year-over-year basis.
In other news, COO Mukul Jain sold 11,885 shares of the stock in a transaction dated Monday, October 2nd. The shares were sold at an average price of $3.25, for a total transaction of $38,626.25. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink.
A number of institutional investors and hedge funds have recently bought and sold shares of SENS. Renaissance Technologies LLC acquired a new stake in Senseonics Holdings during the 1st quarter worth approximately $111,000. Susquehanna International Group LLP acquired a new stake in Senseonics Holdings during the 2nd quarter worth approximately $155,000. LMR Partners LLP acquired a new stake in Senseonics Holdings during the 2nd quarter worth approximately $177,000. Goldman Sachs Group Inc. acquired a new stake in Senseonics Holdings during the 2nd quarter worth approximately $276,000. Finally, ING Groep NV increased its position in Senseonics Holdings by 87.7% during the 2nd quarter. ING Groep NV now owns 225,833 shares of the company’s stock worth $406,000 after purchasing an additional 105,494 shares in the last quarter.
About Senseonics Holdings
Senseonics Holdings, Inc is a medical technology company. The Company focuses on the design, development and commercialization of glucose monitoring systems. The Company operates through glucose monitoring systems segment. It offers a continuous glucose monitoring (CGM) system, Eversense, which is designed an implantable CGM system designed to continually measure glucose levels in people with diabetes.
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