FY2024 EPS Forecast for AVITA Medical Decreased by Analyst

AVITA Medical, Inc. (NASDAQ:RCEL) – Cantor Fitzgerald cut their FY2024 earnings per share (EPS) estimates for shares of AVITA Medical in a research note issued to investors on Tuesday, January 21st. Cantor Fitzgerald analyst R. Osborn now forecasts that the company will post earnings per share of ($2.51) for the year, down from their previous estimate of ($2.38). Cantor Fitzgerald currently has a “Overweight” rating and a $21.00 target price on the stock. The consensus estimate for AVITA Medical’s current full-year earnings is ($2.35) per share.

Several other equities analysts also recently commented on RCEL. D. Boral Capital restated a “buy” rating and set a $25.00 target price on shares of AVITA Medical in a research report on Wednesday, January 8th. Piper Sandler reissued a “neutral” rating and set a $12.00 price objective (up from $9.00) on shares of AVITA Medical in a report on Friday, November 8th. Finally, Lake Street Capital reduced their target price on shares of AVITA Medical from $20.00 to $14.00 and set a “buy” rating on the stock in a research note on Wednesday, January 8th. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, AVITA Medical presently has a consensus rating of “Moderate Buy” and a consensus price target of $18.00.

AVITA Medical Stock Up 5.5 %

NASDAQ RCEL opened at $8.95 on Thursday. AVITA Medical has a 1-year low of $7.51 and a 1-year high of $18.93. The company has a market capitalization of $234.67 million, a price-to-earnings ratio of -4.01 and a beta of 1.58. The stock’s 50 day moving average is $11.87 and its two-hundred day moving average is $10.64. The company has a current ratio of 3.73, a quick ratio of 3.37 and a debt-to-equity ratio of 3.48.

AVITA Medical (NASDAQ:RCEL) last issued its earnings results on Thursday, November 7th. The company reported ($0.62) earnings per share for the quarter, missing the consensus estimate of ($0.41) by ($0.21). AVITA Medical had a negative net margin of 95.47% and a negative return on equity of 194.69%. The business had revenue of $19.55 million for the quarter, compared to analyst estimates of $19.65 million. During the same quarter last year, the firm posted ($0.34) earnings per share.

Hedge Funds Weigh In On AVITA Medical

A number of institutional investors have recently modified their holdings of the stock. SG Americas Securities LLC bought a new stake in shares of AVITA Medical during the fourth quarter valued at approximately $190,000. JPMorgan Chase & Co. boosted its position in AVITA Medical by 38.5% in the 3rd quarter. JPMorgan Chase & Co. now owns 32,344 shares of the company’s stock valued at $347,000 after buying an additional 8,985 shares during the last quarter. Barclays PLC boosted its position in AVITA Medical by 340.0% in the 3rd quarter. Barclays PLC now owns 37,503 shares of the company’s stock valued at $402,000 after buying an additional 28,979 shares during the last quarter. Geode Capital Management LLC increased its stake in shares of AVITA Medical by 1.4% in the 3rd quarter. Geode Capital Management LLC now owns 594,436 shares of the company’s stock valued at $6,373,000 after buying an additional 8,361 shares during the period. Finally, Jane Street Group LLC raised its position in shares of AVITA Medical by 32.7% during the third quarter. Jane Street Group LLC now owns 89,395 shares of the company’s stock worth $958,000 after acquiring an additional 22,032 shares during the last quarter. 27.66% of the stock is owned by institutional investors.

AVITA Medical Company Profile

AVITA Medical, Inc, together with its subsidiaries, operates as a regenerative medicine company in the United States and internationally. The company's lead product is the RECELL System, a cell harvesting device used for the treatment of thermal burn wounds, full-thickness skin defects, and repigmentation of stable depigmented vitiligo lesions.