Zeltiq Aesthetics Inc (ZLTQ) is Reiterated by Maxim Group to Buy, Raises Price Target to $ 48

Zeltiq Aesthetics Inc (ZLTQ) was Reiterated by Maxim Group to “Buy” according to the research note released today. The brokerage firm has raised the Price Target to $ 48 from a previous price target of $40 . Maxim Group advised their investors in a research report released on Aug 9, 2016.

On the company’s financial health, Zeltiq Aesthetics Inc reported $-0.12 EPS for the quarter, missing the analyst consensus estimate by $ -0.08 based on the information available during the earnings call on Aug 8, 2016. Analyst had a consensus of $-0.04. The company had revenue of $89.50 million for the quarter, compared to analysts expectations of $79.68 million. The company’s revenue was up 38.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.03 EPS.

Zeltiq Aesthetics Inc closed down -1.21 points or -3.45% at $33.88 with 14,84,228 shares getting traded on Monday. Post opening the session at $35.09, the shares hit an intraday low of $33.58 and an intraday high of $35.17 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.

In a different news, on Aug 8, 2016, Mark J Foley (President and CEO) sold 50,000 shares at $35.03 per share price. According to the SEC, on Aug 5, 2016, Keith J Sullivan (CCO, President, North America) sold 8,000 shares at $34.38 per share price. On Jul 12, 2016, Bradley Hauser (VP, Research and Development) sold 3,000 shares at $30.02 per share price, according to the Form-4 filing with the securities and exchange commission.

ZELTIQ Aesthetics Inc. is a medical technology company. The Company is focused on developing and commercializing products utilizing its controlled-cooling technology platform. Its commercial product the CoolSculpting System is designed to reduce stubborn fat bulges. The Company sells its CoolSculpting system to dermatologists plastic surgeons and aesthetic specialists and generates revenue from sales of its CoolSculpting system and from sales of consumables to its customers. Consumables are the CoolSculpting procedure packs that it sells which are needed to perform procedures using its CoolSculpting system. As of December 31 2014 it had an installed base of 3176 CoolSculpting systems installed across approximately 2688 practices across the world. As of December 31 2014 1.5 million CoolSculpting cycles had been shipped to its customers and distributors.

Zeltiq Aesthetics Inc

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