Natus Medical Inc. (BABY) Trading 9.2% Higher Following Better-Than-Expected Earnings
Natus Medical Inc. (NASDAQ:BABY) shares shot up 9.2% on Wednesday after the company announced better than expected quarterly earnings. The company traded as high as $43.85 and last traded at $43.35, with a volume of 877,649 shares. The stock had previously closed at $39.70.
The company reported $0.39 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.34 by $0.05. Natus Medical had a return on equity of 13.82% and a net margin of 10.20%. The company earned $90.90 million during the quarter, compared to analysts’ expectations of $89.94 million. During the same period in the previous year, the firm posted $0.39 earnings per share. The business’s revenue for the quarter was down 3.9% compared to the same quarter last year.
A number of research firms have recently weighed in on BABY. Raymond James Financial Inc. raised Natus Medical from a “market perform” rating to an “outperform” rating and set a $46.00 price target for the company in a report on Tuesday, September 13th. Benchmark Co. started coverage on Natus Medical in a research report on Tuesday, October 4th. They issued a “buy” rating and a $55.00 price objective for the company. Finally, Zacks Investment Research downgraded Natus Medical from a “buy” rating to a “hold” rating in a research report on Wednesday, September 28th.
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In other Natus Medical news, insider James B. Hawkins acquired 10,000 shares of the stock in a transaction dated Wednesday, September 28th. The stock was acquired at an average price of $38.48 per share, with a total value of $384,800.00. Following the completion of the transaction, the insider now directly owns 459,725 shares in the company, valued at $17,690,218. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. 4.80% of the stock is owned by insiders.
Large investors have recently bought and sold shares of the stock. Acrospire Investment Management LLC increased its stake in Natus Medical by 39.1% in the second quarter. Acrospire Investment Management LLC now owns 2,844 shares of the company’s stock worth $108,000 after buying an additional 800 shares during the period. BlackRock Inc. increased its stake in Natus Medical by 36.0% in the second quarter. BlackRock Inc. now owns 3,096 shares of the company’s stock worth $117,000 after buying an additional 820 shares during the period. Invictus RG purchased a new stake in Natus Medical during the first quarter worth about $148,000. PineBridge Investments L.P. increased its stake in Natus Medical by 3.7% in the second quarter. PineBridge Investments L.P. now owns 4,200 shares of the company’s stock worth $159,000 after buying an additional 149 shares during the period. Finally, Teacher Retirement System of Texas increased its stake in Natus Medical by 13.9% in the second quarter. Teacher Retirement System of Texas now owns 4,602 shares of the company’s stock worth $174,000 after buying an additional 562 shares during the period. 88.00% of the stock is owned by hedge funds and other institutional investors.
The stock has a market capitalization of $1.40 billion, a PE ratio of 37.28 and a beta of 0.78. The stock’s 50 day moving average price is $41.06 and its 200-day moving average price is $37.00.
Natus Medical Company Profile
Natus Medical Incorporated is a provider of newborn care and neurology healthcare products and services used for the screening, diagnosis, detection, treatment, monitoring and tracking of common medical ailments in newborn care, hearing impairment, neurological dysfunction, epilepsy, sleep disorders, neuromuscular diseases and balance and mobility disorders.
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