Sharps Compliance Corp SMED:NASDAQ

Last Price$8.67Cboe Closing Price as of 4:00PM ET 8/10/22
Cboe Real-Time Quotes
Today's Change0.00(0.00%)
Bid (Size)$7.18 (100)
Ask (Size)$10.21 (100)
Day Low / High$8.66 - 8.68
Volume159.0 K

Barrington Lowers Sharps Compliance's PT to $6 From $11 as Financial Results Face Challenges Due to Inflation, COVID, Maintains Outperform Rating

11:50AM ET 6/28/2022 MT Newswires
Barrington lowered Sharps Compliance Corp (SMED) price target to $6 from $11 as it raised concerns that the financial results were affected by inflation and COVID-related revenue comparisons.

Third-quarter revenue declined by more than 36% compared to the same period a year ago to $17.6 million. But while this exceeded both Barrington expectations as well as the street consensus of $16.6 million, it was largely driven by the retail sector where billings were down 79% YoY as a result of the normalization of immunization-related orders from pharmacies that administered COVID-19 vaccines.

However, the firm believes that the company will be back to a "strong and sustainable" growth trajectory in 2024 and beyond. Accordingly, Barrington reiterated its outperform rating on the company's stock.

(MT Newswires covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://www.mtnewswires.com/contact-us)

Price: 3.16, Change: -0.08, Percent Change: -2.47