Cantor Fitzgerald Estimates AVITA Medical FY2024 Earnings

AVITA Medical, Inc. (NASDAQ:RCEL) – Stock analysts at Cantor Fitzgerald decreased their FY2024 EPS estimates for shares of AVITA Medical in a report released on Tuesday, January 21st. Cantor Fitzgerald analyst R. Osborn now anticipates that the company will earn ($2.51) per share for the year, down from their prior forecast of ($2.38). Cantor Fitzgerald has a “Overweight” rating and a $21.00 price target on the stock. The consensus estimate for AVITA Medical’s current full-year earnings is ($2.35) per share.

AVITA Medical (NASDAQ:RCEL) last announced 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). The business had revenue of $19.55 million for the quarter, compared to analyst estimates of $19.65 million. AVITA Medical had a negative return on equity of 194.69% and a negative net margin of 95.47%. During the same quarter last year, the company posted ($0.34) EPS.

A number of other equities analysts also recently commented on RCEL. Piper Sandler restated a “neutral” rating and set a $12.00 price objective (up previously from $9.00) on shares of AVITA Medical in a research report on Friday, November 8th. Lake Street Capital decreased their target price on AVITA Medical from $20.00 to $14.00 and set a “buy” rating on the stock in a research report on Wednesday, January 8th. Finally, D. Boral Capital reiterated a “buy” rating and issued a $25.00 price objective on shares of AVITA Medical in a research report 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. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $18.00.

AVITA Medical Stock Down 2.9 %

Shares of RCEL stock opened at $8.48 on Thursday. The company has a current ratio of 3.73, a quick ratio of 3.37 and a debt-to-equity ratio of 3.48. The business’s 50 day moving average is $11.94 and its two-hundred day moving average is $10.65. AVITA Medical has a twelve month low of $7.51 and a twelve month high of $18.93.

Institutional Trading of AVITA Medical

A number of large investors have recently made changes to their positions in RCEL. SG Americas Securities LLC purchased a new position in AVITA Medical in the 4th quarter valued at about $190,000. JPMorgan Chase & Co. raised its position in shares of AVITA Medical by 38.5% in the third 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 lifted its stake in shares of AVITA Medical by 340.0% during the third 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 period. Geode Capital Management LLC boosted its holdings in shares of AVITA Medical by 1.4% during the third quarter. Geode Capital Management LLC now owns 594,436 shares of the company’s stock worth $6,373,000 after purchasing an additional 8,361 shares during the last quarter. Finally, Jane Street Group LLC boosted its stake in AVITA Medical by 32.7% in the 3rd quarter. Jane Street Group LLC now owns 89,395 shares of the company’s stock worth $958,000 after buying an additional 22,032 shares during the last quarter. Institutional investors and hedge funds own 27.66% of the company’s stock.

About AVITA Medical

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.