Misonix (NASDAQ:MSON) Stock Price Up 17.1% After Better-Than-Expected Earnings

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Misonix, Inc. (NASDAQ:MSON)’s stock price rose 17.1% during mid-day trading on Friday following a better than expected earnings announcement. The company traded as high as $20.51 and last traded at $19.62, approximately 103,666 shares changed hands during trading. An increase of 136% from the average daily volume of 43,956 shares. The stock had previously closed at $16.75.

The medical equipment provider reported $0.17 earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.17) by $0.34. The company had revenue of $11.15 million for the quarter. Misonix had a negative return on equity of 25.99% and a negative net margin of 19.01%.

MSON has been the topic of a number of recent analyst reports. Canaccord Genuity reaffirmed a “buy” rating and set a $30.00 price target (up previously from $24.00) on shares of Misonix in a report on Thursday, August 15th. ValuEngine cut Misonix from a “buy” rating to a “hold” rating in a report on Thursday, August 1st. Finally, BTIG Research reaffirmed a “buy” rating and set a $27.00 price target on shares of Misonix in a report on Thursday, August 15th. One analyst has rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of $28.50.

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Meeder Asset Management Inc. acquired a new position in shares of Misonix during the third quarter valued at approximately $37,000. River & Mercantile Asset Management LLP acquired a new position in shares of Misonix during the second quarter valued at approximately $2,611,000. Vanguard Group Inc. increased its stake in shares of Misonix by 36.9% during the second quarter. Vanguard Group Inc. now owns 335,383 shares of the medical equipment provider’s stock valued at $8,525,000 after acquiring an additional 90,416 shares during the period. BlackRock Inc. grew its position in Misonix by 1,741.2% in the second quarter. BlackRock Inc. now owns 463,255 shares of the medical equipment provider’s stock worth $11,776,000 after buying an additional 438,094 shares during the last quarter. Finally, Northern Trust Corp grew its position in Misonix by 17.4% in the second quarter. Northern Trust Corp now owns 53,849 shares of the medical equipment provider’s stock worth $1,368,000 after buying an additional 7,971 shares during the last quarter. Institutional investors and hedge funds own 27.20% of the company’s stock.

The company’s 50-day simple moving average is $18.09 and its 200-day simple moving average is $20.76.

About Misonix (NASDAQ:MSON)

Misonix, Inc, together with its subsidiaries, designs, develops, manufactures, and markets therapeutic ultrasonic medical devices in the United States, the Americas, Europe, Middle East, Asia Pacific, Africa, and internationally. The company offers BoneScalpel, an ultrasonic bone cutting and sculpting system for surgical procedures involving the precise cutting of bone while sparing soft tissue; SonaStar, a surgical aspirator that is used to emulsify and remove soft and hard tumors primarily in the neuro and general surgery field; and SonicOne, an ultrasonic cleansing and debridement system, which provides tissue specific debridement and cleansing of wounds and burns for the removal of devitalized tissue and fibrin deposits while sparing viable cells.

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