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SDC

SmileDirectClub

$9.71

-1.39 (-12.52%)

07:56
10/15/19
10/15
07:56
10/15/19
07:56

SmileDirectClub should consider pre-announcing Q3 results, says Guggenheim

Guggenheim analyst Glen Santangelo noted that 36 state dental boards have filed some complaint against the practice of teledentistry, so California's AB1519 is "not a new issue" for SmileDirectClub. However, the signing of the new bill into law has aggravated regulatory uncertainty and added to pre-existing near-term concerns about revenues, Santangelo said. Given his view that Q3 results and guidance will be positive data points, and his belief that management's reiteration of its view that the recent legislation passed in California will not disrupt its business model would help alleviate some concerns, Santangelo thinks management should consider pre-announcing Q3 results , though he has "no indication that the company will consider going down this route." Santangelo keeps a Buy rating with a $24 price target on SmileDirectClub shares, though he expects the stock "to languish until the company discloses revenues and reiterates its position on the regulatory uncertainty in a more convincing way."

  • 12

    Nov

SDC SmileDirectClub
$9.71

-1.39 (-12.52%)

10/07/19
WBLR
10/07/19
INITIATION
WBLR
Outperform
William Blair calls SmileDirectClub next big growth story in dental
William Blair analyst John Kreger initiated coverage of SmileDirectClub with an Outperform rating. The analyst views the stock as a "compelling choice for investors seeking high growth and willing to tolerate higher volatility." He sees SmileDirectClub as the next big growth story in the dental space as the clear aligner market expands. The comany's shipment growth exceeded 100% last year and Kreger expects it to grow 75% in 2019 and at a 40% compound annual rate through 2023.
10/07/19
10/07/19
INITIATION

Fly Intel: Top five analyst initiations
Catch up on today's top five analyst initiations with this list compiled by The Fly: 1. SmileDirectClub (SDC) initiated with an Outperform at Credit Suisse and William Blair, an Overweight rating at JPMorgan, and a Buy at Loop Capital, Citi, Jefferies, BTIG, Guggenheim, BofA/Merrill, and Stifel. 2. SJW Corp. (SJW) initiated with an Outperform rating at Macquarie. 3. FleetCor (FLT) initiated with a Sector Perform at RBC Capital. 4. Gladstone Land (LAND) initiated with a Buy rating at Aegis. 5. Sutro Biopharma (STRO) initiated with a Buy at BTIG. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.
10/14/19
STFL
10/14/19
NO CHANGE
Target $19
STFL
Buy
SmileDirectClub may or may not be hurt from AB-1519, says Stifel
The Governor of California on Sunday signed AB-1519, which extends the Dental Board's authority to oversee dental services until 2024, Stifel analyst Jonathan Block tells investors in a research note. The bill includes many amendments including several specific to self-applied orthodontic treatments administered via telehealth, and notes that the Dentist must review diagnostic digital or conventional radiographs for orthodontia prior to moving teeth, adds the analyst. Block says the headwinds the bill may or may not cause for SmileDirectClub's business are "difficult to decipher." He adds, though, that he called out AB-1519 in his initiation report as potentially causing multiple compression in the near-term. The analyst keeps a Buy rating on SmileDirectClub with a $19 price target. The stock in morning trading is down 5%, or 57c, to $10.56.
10/14/19
UBSW
10/14/19
NO CHANGE
Target $24
UBSW
Buy
SmileDirectClub may have to place dentists in CA shops due to new law, says UBS
UBS analyst Kevin Caliendo noted that California Governor Gavin Newsom signed bill AB-1519 over the weekend and the law is expected to go into effect on January 1, 2020. He thinks that SmileDirectClub may need to place dentists inside its shops due to the new law, though it is less clear if the bill will mean that patients will need to get x-rays as well as iTero scans, which may eventually be determined in court. The analyst, who noted that SmileDirect is scheduled to report Q3 results on November 12, noted that he has received questions on if the company might pre-announce, but he has "no insight or precedent into whether the company will opt to do that or not." Caliendo has a Buy rating and $24 price target on SmileDirectClub shares

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