SmileDirectClub (NASDAQ:SDC) Sets New 12-Month Low After Analyst Downgrade

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Shares of SmileDirectClub (NASDAQ:SDC) hit a new 52-week low during mid-day trading on Friday after UBS Group lowered their price target on the stock from $24.00 to $18.00. UBS Group currently has a buy rating on the stock. SmileDirectClub traded as low as $8.53 and last traded at $8.57, with a volume of 104118 shares trading hands. The stock had previously closed at $8.89.

A number of other brokerages also recently issued reports on SDC. Credit Suisse Group decreased their price objective on SmileDirectClub from $18.00 to $17.00 and set an “outperform” rating on the stock in a research report on Wednesday. Loop Capital upped their price objective on SmileDirectClub from $15.00 to $20.00 and gave the company a “buy” rating in a research report on Wednesday. Guggenheim started coverage on SmileDirectClub in a research report on Monday, October 7th. They set a “buy” rating and a $24.00 price objective on the stock. JPMorgan Chase & Co. started coverage on SmileDirectClub in a research report on Monday, October 7th. They set an “overweight” rating and a $31.00 price objective on the stock. Finally, Stifel Nicolaus started coverage on SmileDirectClub in a research report on Monday, October 7th. They set a “buy” rating and a $19.00 price objective on the stock. Ten investment analysts have rated the stock with a buy rating, The company presently has a consensus rating of “Buy” and a consensus target price of $21.00.

In other news, major shareholder Cd&R Investment Associates X, sold 2,275,857 shares of the stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $21.85, for a total value of $49,727,475.45. Also, insider Kay Oswald purchased 2,700 shares of SmileDirectClub stock in a transaction dated Friday, September 13th. The stock was acquired at an average price of $17.64 per share, for a total transaction of $47,628.00. Over the last quarter, insiders bought 43,800 shares of company stock worth $808,019.

Several hedge funds and other institutional investors have recently modified their holdings of SDC. Signaturefd LLC purchased a new stake in shares of SmileDirectClub in the third quarter worth approximately $65,000. Douglas Lane & Associates LLC purchased a new stake in shares of SmileDirectClub in the third quarter worth approximately $166,000. Integrated Investment Consultants LLC purchased a new stake in shares of SmileDirectClub in the third quarter worth approximately $261,000. FNY Investment Advisers LLC purchased a new stake in shares of SmileDirectClub in the third quarter worth approximately $325,000. Finally, BB&T Securities LLC purchased a new stake in shares of SmileDirectClub in the third quarter worth approximately $333,000. Hedge funds and other institutional investors own 0.24% of the company’s stock.

The firm has a fifty day moving average of $11.57.

SmileDirectClub (NASDAQ:SDC) last issued its quarterly earnings results on Tuesday, November 12th. The company reported ($0.89) earnings per share for the quarter, topping the consensus estimate of ($0.99) by $0.10. The business had revenue of $180.20 million during the quarter, compared to analysts’ expectations of $165.30 million. The company’s revenue for the quarter was up 50.5% compared to the same quarter last year. Sell-side analysts expect that SmileDirectClub will post -1.18 earnings per share for the current fiscal year.

About SmileDirectClub (NASDAQ:SDC)

SmileDirectClub, Inc operates a teledentistry platform that provides member's with a customized clear aligner therapy treatment in the United States and internationally. The company manages the end-to-end process, which include marketing, aligner manufacturing, fulfillment, treatment by a doctor, and monitoring through completion of their treatment proprietary with a network of approximately 240 state licensed orthodontists and general dentists through its teledentistry platform, SmileCheck.

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