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SDC

SmileDirectClub

$9.96

0.73 (7.91%)

13:03
01/13/20
01/13
13:03
01/13/20
13:03

SmileDirect granted motion for summary judgment against NJ Dental Association

Following the Superior Court of New Jersey's decision on January 10, 2020 granting SmileDirectClub's motion for summary judgment against the New Jersey Dental Association, Susan Greenspon Rammelt, SmileDirectClub Chief Legal Officer, issued the following statement: "We are pleased that the Superior Court of New Jersey granted our motion for summary judgment against the New Jersey Dental Association's sham complaint against SmileDirectClub and concluded that its allegations about our business and the independence of the doctors who use our network are false. This court decision verifies that SmileDirectClub's model is in full compliance with the law, and that SmileDirectClub is not engaged in the corporate practice of dentistry." The New Jersey Dental Association's January 2019 complaint alleged that SmileDirectClub illegally practiced dentistry in New Jersey through its control over the dentists that choose to utilize SmileDirectClub's marketing and administrative support services and its teledentistry platform and that its marketing practices were in violation of New Jersey law. "By granting SmileDirectClub's motion for summary judgement, the court concluded that the allegations were wholly without merit," the company added.

SDC SmileDirectClub
$9.96

0.73 (7.91%)

11/13/19
JPMS
11/13/19
NO CHANGE
Target $31
JPMS
Overweight
SmileDirectClub should beat 'conservative' outlook for Q4, says JPMorgan
JPMorgan analyst Robbie Marcus believes SmileDirectClub posted "good" Q3 results and that management took a "very conservative" approach to setting 2019 guidance. As such, he remains bullish on the company's ability to post another beat in Q4 and provide initial 2020 guidance "that sets up another year of beat-and-raise quarters." He keeps an Overweight rating on SmileDirectClub shares with a $31 price target.
12/18/19
GSCO
12/18/19
INITIATION
Target $10
GSCO
Neutral
SmileDirectClub initiated with a Neutral at Goldman Sachs
Goldman Sachs analyst Nathan Rich initiated coverage of SmileDirectClub (SDC) with a Neutral rating and $10 price target. The analyst expects the direct-to-consumer clear aligner market to expand over the next several years, but he thinks the marketing costs associated with driving conversion could weigh on profitability, especially as competitors enter and general dentists compete for less complex cases. Increased marketing spend this year has driven more traffic to SmileDirectClub's site, though its conversions rates have remained flattish at around 1%, Rich tells investors in a research note. In addition, several states have or are considering making changes to the rules governing remote dentistry that could impact the company's store model, adds the analyst. Rich prefers doctor-directed aligner treatments over the direct-to-consumer model and keeps a Buy rating on shares of Align Technology (ALGN) with a $300 price target.
01/06/20
CHLM
01/06/20
INITIATION
Target $20
CHLM
Buy
SmileDirectClub initiated with a Buy at Craig-Hallum
Craig-Hallum analyst Alexander Nowak initiated coverage of SmileDirectClub with a Buy rating and $20 price target. The company is is "upsetting the existing mold" of orthodontics by lowering physician involvement to provide increased access, better service and a reduced cost to the consumer, Nowak tells investors in a research note. The analyst believes SmileDirectClub is setting itself up for "many years of share gains while insulating itself from potential copy-cats." With 3% share today and a growing market, the company's business is "just getting going" and the current valuation is a good entry point for investors, contends Nowak. He expects its revenue to more than double in the next two years.
01/09/20
WOLF
01/09/20
INITIATION
Target $7
WOLF
Underperform
SmileDirectClub initiated with an Underperform at Wolfe Research
Wolfe Research initiated coverage of SmileDirectClub with an Underperform rating and $7 price target. While the firm believes multiple compression in 2019 has set up the stock up for outperformance on any positive surprise, its rating seeks to highlight the likelihood of deceleration, future capital raises, and the stock's macro and credit sensitivity.

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