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.
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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