Zacks Investment Research Downgrades Restoration Robotics (HAIR) to Hold
Restoration Robotics (NASDAQ:HAIR) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Monday.
According to Zacks, “Restoration Robotics Inc. is a medical device company. It engaged in developing and commercializing the ARTAS(R) Robotic Hair Restoration System. The company serves physicians and patients primarily in the United States. Restoration Robotics Inc. is based in San Jose, California. “
Other equities analysts have also recently issued reports about the company. Maxim Group cut their price target on Restoration Robotics from $8.00 to $6.00 and set a “buy” rating on the stock in a report on Tuesday, August 14th. ValuEngine upgraded Restoration Robotics from a “hold” rating to a “buy” rating in a report on Wednesday, July 4th. Five equities research analysts have rated the stock with a buy rating, The stock has an average rating of “Buy” and a consensus price target of $7.44.
Restoration Robotics (NASDAQ:HAIR) last posted its quarterly earnings results on Monday, July 30th. The company reported ($0.21) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.21). The business had revenue of $5.48 million for the quarter, compared to the consensus estimate of $4.91 million. sell-side analysts forecast that Restoration Robotics will post -0.71 EPS for the current year.
In other Restoration Robotics news, Director Frederic H. Moll purchased 333,333 shares of the business’s stock in a transaction on Thursday, August 9th. The shares were purchased at an average cost of $1.50 per share, for a total transaction of $499,999.50. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Ryan Rhodes purchased 66,666 shares of the business’s stock in a transaction on Thursday, August 9th. The shares were acquired at an average price of $1.50 per share, for a total transaction of $99,999.00. The disclosure for this purchase can be found here. Insiders have acquired a total of 2,399,999 shares of company stock worth $3,599,999 over the last 90 days. Company insiders own 37.80% of the company’s stock.
Several institutional investors and hedge funds have recently modified their holdings of HAIR. Cambridge Investment Research Advisors Inc. bought a new position in shares of Restoration Robotics in the 2nd quarter worth $618,000. Royce & Associates LP lifted its holdings in shares of Restoration Robotics by 40.0% in the 2nd quarter. Royce & Associates LP now owns 350,000 shares of the company’s stock worth $1,215,000 after purchasing an additional 100,000 shares in the last quarter. Bainco International Investors bought a new position in shares of Restoration Robotics in the 2nd quarter worth $224,000. Wells Fargo & Company MN lifted its holdings in shares of Restoration Robotics by 10,700.4% in the 1st quarter. Wells Fargo & Company MN now owns 57,566 shares of the company’s stock worth $359,000 after purchasing an additional 57,033 shares in the last quarter. Finally, BlackRock Inc. lifted its holdings in shares of Restoration Robotics by 97.1% in the 1st quarter. BlackRock Inc. now owns 113,599 shares of the company’s stock worth $708,000 after purchasing an additional 55,954 shares in the last quarter. Institutional investors own 29.70% of the company’s stock.
About Restoration Robotics
Restoration Robotics, Inc, a medical device company, develops and commercializes image-guided robotic systems in the United States and internationally. The company offers ARTAS System, a physician-assisted robotic system that identifies and dissects hair follicular units directly from the scalp and creates recipient implant sites.
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