Maxim Group analyst Anthony Vendetti maintained a Buy rating on Xtant Medical Holdings (XTNT) today and set a price target of $6. The company’s shares closed yesterday at $3.17.
Vendetti said:
“Market close, XTNT reported weaker-than-expected 3Q18 results, with revenue and GAAP loss per share below expectations. The new management team is currently evaluating initiatives to drive revenue growth and improve cost efficiencies. We reducing our price target to $6, from $10, due to the 3Q18 miss, our lower estimates, and the uncertainty surrounding the direction of the company, and the debt overhang.”
According to TipRanks.com, Vendetti is a 5-star analyst with an average return of 8.8% and a 53.1% success rate. Vendetti covers the Healthcare sector, focusing on stocks such as Ellex Medical Lasers Limited, Restoration Robotics Inc, and Ra Medical Systems Inc.
Xtant Medical Holdings has an analyst consensus of Moderate Buy, with a price target consensus of $6.
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Based on Xtant Medical Holdings’ latest earnings release for the quarter ending September 30, the company reported a quarterly GAAP net loss of $3.15 million. In comparison, last year the company had a GAAP net loss of $8.51 million.
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Xtant Medical Holdings, Inc. operates as a holding company, which supplies orthopedic and spine surgery products. The firm operates through its subsidiaries, Bacterin International, Inc. and X-spine Systems, Inc. Bacterin International develops, manufactures, and markets biologics products to domestic and international markets.
