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Tag: SmileDirectClub Inc.

  • Strategic Actions to Increase Profitability: SmileDirectClub Inc. (SDC) Swells After Hours

    On January 24, SmileDirectClub Inc. (SDC) announced strategic actions to increase the company’s profitability. Following the announcement, the stock advanced further in the after-hours.

    During regular trading, the stock fluctuated between $1.7550 and $1.9900 at 11.46 million shares. SDC closed the session at $1.9900 with a slight gain of 2.05% on Monday. Consequent to the announcement, the stock saw an upsurge, by adding a further 11.06% in the after-hours. Hence, SDC was trading at $2.21 apiece at an after-hours volume of 2.93 million shares.

    The dental services provider, SmileDirectClub Inc. has a market capitalization of $757.34 million. Currently, the company has 119.14 million shares outstanding in the market. Furthermore, SDC stock has declined by 15.32% year to date while it lost 85.10% last year.

    SDC’s Strategic Actions

    Based on the continued impact of macroeconomic factors on consumers, SDC has decided on certain strategic measures for improving profitability. Further, these actions were decided upon after the company conducted an evaluation of its business.

    The planned actions include:

    • Its professional channel, SmileDirectClub Partner Network expansion.
    • Innovations for aligner products to encompass the teen and higher-household income demographics.
    • Focus on its oral care product business.
    • Growth of SmileShop in markets as consumer demand is increasing.
    • Pausing of expansion into new international markets for allowing recovery from the pandemic and macroeconomic pressures.
    • Suspension of operations on Mexico, Spain, Germany, Netherlands, Austria, Hong Kong, Singapore, and New Zealand.
    • Scaling of operations in the U.S., Canada, U.K., Ireland, France, and Australia.
    • Reduction of the workforce for alignment with operating structure tailored to the focused countries.

    Expected Impact of the Actions

    Moreover, SDC’s expected year-over-year cost and capital savings as a result of the above-mentioned changes and actions are estimated to be $120 million approx. in 2022. Additionally, a $25 million one-time recognition cost is expected between Q4 2021 and 2022. Out of this, $3 million are expected to be booked in Q4 2021, and the remaining in 2022. This includes lease buyout, asset impairments due to closure of regional operations, employee-related costs like severance and retention payments, etc.

    In addition, the company also confirmed the previously issued guidance of $630-$650 million for full-year 2021 revenue.

    Q3 Financial Highlights

    SDC had a net loss of $89 million (0.23/diluted share) on revenue of $138 million in the third quarter of 2021. Therefore, the total revenue decreased by 18.3% year over year, and net loss went down by 105.6% year over year.

  • Top 15 Best Performing Medical Device Manufacture Companies Of 2020

    Top 15 Best Performing Medical Device Manufacture Companies Of 2020

    New medical innovations are emerging day by day and are playing a major role in the health care sector. Much of the credit for these new technological innovations go to the medical devices industry. Technological advancement is continuously changing the medical devices industry. The medical devices that provide and analyze data of patients within minutes are aiding the healthcare organizations to improve patients outcomes, lower costs, and enhance efficiency.

    2020 is the year of challenges and opportunities for many industries including the medical devices industry. The medical device industry is growing with fast speed and it doesn’t seem like it is going to be slowing down anytime soon. The growth in the medical devices industry has occurred because of increasing severe disease with the increasing population. These new diseases need new treatments that can reduce the symptoms in patients. The medical devices industry is important to patients for many reasons. Medical devices companies engaged in the innovations of new technologies that are helpful for patients with chronic diseases.

    Here are the top 15 leading players in the medical devices industry you should be holding right now:

    SmileDirectClub Inc. (NASDAQ: SDC)

    SmileDirectClub Inc. (NASDAQ: SDC) last closed at $11.27, in a 52-week range of $3.64 to $21.10. Analysts have a consensus price target of $10.08. SmileDirectClub Inc. (SDC) has partnered with Meredith Corporation (MDP) to introduce Telehealth Explained. Telehealth Explained is the new platform aimed to educate consumers about the many benefits of telehealth for physical, mental, and dental health.  SmileDirectClub Inc.’s market cap has remained high, hitting $4.66 billion at the time of writing.

    CHF Solutions Inc. (CHFS)

    CHF Solutions Inc. (CHFS) stock soar by 5.85% to $0.32. CHF Solutions Inc. (CHFS) has earlier disclosed that it has received 180-extension to meet the Nasdaq minimum bid price requirement. The company has now the time since February 24, 2021, to meet all the requirements.  CHFS has earlier hosted the interactive, physician-led webinar to discuss “Precision Medicine for the Treatment of Fluid Overload in Patients with Acute Heart Failure.” CHF Solutions has a 52-weeks low and high range of $0.28 and a low range of $2.92.

    Abbott Laboratories (NYSE: ABT)

    Abbott Laboratories (NYSE: ABT) stock soar by 2.89% to $105.81. The most recent rating by Goldman, on June 01, 2020, is at a Sell. Abbott Laboratories (ABT) has earlier disclosed that it has initiated the LIFE-BTK clinical trial to evaluate the safety and effectiveness of the company’s new Esprit™ BTK Everolimus-Eluting Resorbable Scaffold System.  ABT has a 52-weeks low and high range of $61.61 and $114.19, respectively. It has a market cap of $189.80 billion at the time of writing.

    Avinger Inc. (NASDAQ: AVGR)

    Avinger Inc. (NASDAQ: AVGR) Shares headed rising, higher as much as 3.70%. The most recent rating by Ladenburg Thalmann, on March 09, 2018, is at a Buy. Avinger Inc. (AVGR) has earlier disclosed that the underwriter of its earlier revealed underwritten public offering has practiced, in full, their option to purchase an additional 1,000,000 shares of the Company’s common stock at a price of $0.47 per share. Avinger Inc.’s market capitalization has remained high, hitting $36.67 million at the time of writing.

    InspireMD Inc. (AMEX: NSPR)

    InspireMD Inc. (AMEX: NSPR) fall -7.23% after losing more than -$0.02 on Wednesday. InspireMD Inc. has disclosed that it has received the FDA approval to proceed with a pivotal study of the CGuard Carotid Stent System, CARENET-III, for prevention of stroke in patients in the United States.  The FDA approval of Investigational Device Exemption (IDE) has been proved to be useful for the company as it is now able to conduct the trial to check the potential of CGuard EPS against carotid artery disease.

    BIOLASE Inc. (NASDAQ: BIOL)

    BIOLASE Inc. (NASDAQ: BIOL) last closed at $0.30, in a 52-week range of $0.21 to $1.16. BIOLASE Inc. (BIOL) has disclosed that Todd Norbe, President and CEO, and John Beaver, COO, and CFO, will be providing an overview of the Company, as well as recent progress and achievements at the Colliers & Co.  Institutional Investor Conference on Thursday, September 10, 2020. BIOLASE Inc. has a market capitalization of $26.66 million at the time of writing.

    Stryker Corporation (NYSE: SYK)

    Stryker Corporation (NYSE: SYK) stock soar by 2.66% to $205.41. The most recent rating by Barclays, on April 13, 2020, is at an Underweight. Stryker Corporation (SYK) has earlier revealed that it will take part in the Morgan Stanley 18th Annual Virtual Global Healthcare Conference on Tuesday, September 15, 2020. This company’s market capitalization has remained high, hitting $77.31 billion at the time of writing.

    Livongo Health Inc. (NASDAQ: LVGO)

    Livongo Health Inc. (NASDAQ: LVGO) last closed at $128.03, in a 52-week range of $15.12 to $150.00. Analysts have a consensus price target of $130.41. Livongo Health Inc. (LVGO) disclosed that executives of Livongo Health and the executives from Teladoc Health will be participating in the following upcoming investor conferences. It had a trading volume of 1.72 million as compared to the average volume of 4.89 million.

    Boston Scientific Corporation (NYSE: BSX)

    Boston Scientific Corporation (NYSE: BSX) shares headed rising, higher as much as 1.49% after Boston Scientific Launches Vercise Genus™ DBS System In Europe. The most recent rating by SVB Leerink, on April 22, 2020, is at an Mkt perform. Boston Scientific Corporation (BSX) has a 52-weeks low and high range of $24.10 and $46.62, respectively. It has a market cap of $59.43 billion at the time of writing.

    Medtronic plc (NYSE: MDT)

    Medtronic plc (NYSE: MDT) rose 1.99% after gaining more than $2.08 on Wednesday. Medtronic Receives Breakthrough Device Designation from FDA, Begins Early Feasibility Study for Investigational Intrepid™ Transcatheter Valve System for the Treatment of Tricuspid Valve Regurgitation. Medtronic plc (MDT) has traded up 47.87% from its 52-weeks low and traded down -12.68% from its 52-weeks high.

    Ra Medical Systems Inc. (RMED)

    Ra Medical Systems Inc. (RMED) last closed at $0.25, in a 52-week range of $0.26 to $2.69. Ra Medical Systems to Present at H.C. Wainwright 22nd Annual Global Investment Conference on September 16. Ra Medical Systems Inc. (RMED) has traded down -2.46% from its 52-weeks low and traded down 90.57% from its 52-weeks high.

    Hancock Jaffe Laboratories Inc. (NASDAQ: HJLI)

    Hancock Jaffe Laboratories Inc. (NASDAQ: HJLI) shares were trading up 12.80% at $0.41 at the time of writing on Wednesday. Hancock Jaffe Laboratories Inc. (NASDAQ: HJLI) share price went from a low point around $0.21 to briefly over $1.03 in the past 52 weeks, though shares have since pulled back to $0.41. HJLI market cap has remained high, hitting $16.12M at the time of writing.

    Nano-X Imaging Ltd. (NASDAQ: NNOX)

    Nano-X Imaging Ltd. (NASDAQ: NNOX) shares headed rising, higher as much as 7.76% after Nanox Signs Agreement With SPI Medical for the Deployment of 630 Nanox. Its stock has fluctuated between the 52-weeks low of $20.25 and a 52-weeks high range of $43.48. NNOX has moved up 117.33% and 1.24% from its 52-weeks low and high, respectively. Its market capitalization has remained high, hitting $2.08 billion.

    Edwards Lifesciences Corporation (NYSE: EW)

    Edwards Lifesciences Corporation (NYSE: EW) rose 3.26% after gaining more than $2.68 on Wednesday. Edwards Lifesciences Corporation (EW) stock has fluctuated between the 52-weeks low of $51.51 and a 52-weeks high range of $87.79. EW has moved up 64.72% from its 52-weeks low and moved down -3.36% from its 52-weeks high, respectively. Its market capitalization has remained high, hitting $54.00 billion.

    Wright Medical Group N.V. (NASDAQ: WMGI)

    Wright Medical Group N.V. (NASDAQ: WMGI) stock drop by -0.26% to $30.30. The most recent rating by Jefferies, on December 24, 2019, is at a Hold. Wright Medical Group N.V. (WMGI) has a 52-weeks low and high range of $19.04 and $30.66, respectively. It has a market capitalization of $2.92 billion.