Maxim Group analyst Anthony Vendetti maintained a Buy rating on Milestone Scientific (NYSE: MLSS) today and set a price target of $3. The company’s shares opened today at $0.83.
Vendetti wrote:
“Market close, MLSS reported lower-than-expected 2Q18 revenue and gross margin, primarily due to weakness in the dental division and a manufacturing delay. However, we expect a ramp in Medical sales beginning in 4Q18. The company expanded to eight distributors for its epidural instrument (EI) covering 32 fully-trained sales reps. 2Q18 miss and our expectations, we are reducing our 2018, 2019, and 2020 revenue estimates.”
According to TipRanks.com, Vendetti is a 4-star analyst with an average return of 8.4% and a 53.3% success rate. Vendetti covers the Healthcare sector, focusing on stocks such as Ellex Medical Lasers Limited, Restoration Robotics Inc, and Xtant Medical Holdings.
Currently, the analyst consensus on Milestone Scientific is a Moderate Buy with an average price target of $3.
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Based on Milestone Scientific’s latest earnings release for the quarter ending June 30, the company reported a quarterly GAAP net loss of $1.34 million. In comparison, last year the company had a GAAP net loss of $1.48 million.
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Milestone Scientific, Inc. engages in the provision of pioneering proprietary, innovative technological systems and solutions. It also involves in the development, manufacture, market, and selling of computer controlled system for the improved and painless delivery of local anesthetic. It operates through the Dental and Medical segments.
