| Over a week ago | ||||
Sonendo announced two… Sonendo announced two upcoming departures from its executive management team. Jacqueline Collins, vice president, general counsel, and Merhzad Khakpour, chief technology officer, will each leave the company in July for other opportunities. A search is underway for a new general counsel and a new chief technology officer with extensive experience in product development to lead and scale the R&D organization for the company's next stage of growth. | ||||
Stifel analyst Jonathan… Stifel analyst Jonathan Block lowered the firm's price target on Sonendo to $6 from $10 and keeps a Buy rating on the shares following his review of the Q1 10-Q filings for a portion of his dental coverage and adjustments to his models where appropriate. | ||||
| Over a month ago | ||||
Sonendo is up 19.6%, or… Sonendo is up 19.6%, or 51c to $3.11. | ||||
Piper Sandler analyst… Piper Sandler analyst Jason Bednar lowered the firm's price target on Sonendo to $7 from $12 and keeps an Overweight rating on the shares post the Q1 results. The commercial execution at Sonendo continues to track ahead of plan, and its path towards accelerating revenue growth makes the shares attractive in the broader environment "where visibility is severely constrained for a number of small-cap companies," Bednar tells investors in a research note. The lowered the price target to reflect contracting market and peer group multiples. | ||||
Reports Q1 revenue $9M,… Reports Q1 revenue $9M, consensus $8.22M. "We are very proud of our quarterly results and start to the year, as we continue to see strong utilization among our install base, despite the spike in Omicron infection rates early in the quarter," said Bjarne Bergheim, Chief Executive Offer of Sonendo. "Additionally, we recently showcased our new CleanFlow procedure instrument at the American Association of Endodontists conference in Phoenix having just announced the start of our full market release. Simpler for doctors and better for patients, our CleanFlow procedure instrument provides an opportunity for us to improve utilization while also positively changing the margin profile of our business. Lastly, on April sixth we amended our credit agreement with Perceptive Credit Holdings which provided Sonendo an additional $20 million of available credit. This amendment enhances our liquidity position, giving us the optionality needed to further support the growth of our business." | ||||
Sonendo is up 9.3%, or… Sonendo is up 9.3%, or 32c to $3.75. | ||||
| Over a quarter ago | ||||
Sonendo is down -11.5%,… Sonendo is down -11.5%, or -63c to $4.85. | ||||
Piper Sandler analyst… Piper Sandler analyst Jason Bednar lowered the firm's price target on Sonendo to $12 from $17 and keeps an Overweight rating on the shares following the Q4 results. 2022 guidance was issued for the first time and suggests that GentleWave sales and utilization trends have started the year with good momentum despite omicron, Bednar tells investors in a research note. The analyst says Sonendo continues to be a favorite small cap idea. | ||||
