In a report released today, Anthony Vendetti from Maxim Group maintained a Buy rating on Xtant Medical Holdings (XTNT), with a price target of $6. The company’s shares opened today at $3.
Vendetti observed:
“XTNT reported mixed 4Q18 results and recognized large non-cash charges, resulting in significantly lower gross margin and wider GAAP loss per share, but adjusted EBITDA was ahead of our estimates and consensus. The company restructured its debt facility with OrbiMed, gaining additional capacity, an extended no-interest period, and a later maturity date. In exchange, the company issued 1.2M warrants with a $0.01 exercise price.”
According to TipRanks.com, Vendetti is a 4-star analyst with an average return of 5.9% and a 51.5% 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 $5.25 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.
