CeriBell (NASDAQ:CBLL) Price Target Raised to $30.00

CeriBell (NASDAQ:CBLL) had its target price raised by BTIG Research from $28.00 to $30.00 in a research report sent to investors on Tuesday morning, Marketbeat Ratings reports. They currently have a buy rating on the stock.

CBLL has been the subject of several other research reports. Canaccord Genuity Group raised their target price on shares of CeriBell from $25.00 to $26.00 and gave the stock a “buy” rating in a report on Tuesday, August 11th. Weiss Ratings upgraded shares of CeriBell from a “sell (e+)” rating to a “sell (d-)” rating in a report on Thursday, August 13th. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $22.40.

CeriBell Stock Performance

NASDAQ CBLL opened at $24.31 on Tuesday. The business’s 50 day moving average price is $19.43 and its 200-day moving average price is $19.19. CeriBell has a fifty-two week low of $10.85 and a fifty-two week high of $25.33. The company has a market cap of $933.02 million, a P/E ratio of -13.81 and a beta of 0.81. The company has a debt-to-equity ratio of 0.16, a quick ratio of 8.79 and a current ratio of 9.18.

CeriBell (NASDAQ:CBLL) last issued its quarterly earnings results on Monday, August 10th. The company reported ($0.51) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.47) by ($0.04). CeriBell had a negative return on equity of 44.85% and a negative net margin of 64.73%.The company had revenue of $28.10 million during the quarter, compared to the consensus estimate of $27.28 million. Sell-side analysts predict that CeriBell will post -1.96 earnings per share for the current year.

Insider Buying and Selling

In other news, CFO Scott Blumberg sold 33,512 shares of the business’s stock in a transaction on Wednesday, August 19th. The shares were sold at an average price of $25.03, for a total transaction of $838,805.36. Following the completion of the sale, the chief financial officer directly owned 148,121 shares of the company’s stock, valued at approximately $3,707,468.63. The trade was a 18.45% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Joseph Michael Taylor sold 13,095 shares of the company’s stock in a transaction dated Thursday, August 13th. The stock was sold at an average price of $23.40, for a total transaction of $306,423.00. Following the completion of the transaction, the director owned 48,478 shares in the company, valued at approximately $1,134,385.20. The trade was a 21.27% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 369,286 shares of company stock worth $7,718,927 over the last ninety days. Corporate insiders own 17.70% of the company’s stock.

Institutional Investors Weigh In On CeriBell

Large investors have recently added to or reduced their stakes in the stock. Wellington Management Group LLP grew its stake in CeriBell by 5.5% in the 2nd quarter. Wellington Management Group LLP now owns 87,698 shares of the company’s stock worth $1,706,000 after acquiring an additional 4,572 shares in the last quarter. Formula Growth Ltd. bought a new stake in shares of CeriBell during the second quarter valued at approximately $603,000. Bank of America Corp DE purchased a new stake in shares of CeriBell in the second quarter valued at approximately $4,619,000. PDT Partners LLC purchased a new stake in shares of CeriBell in the second quarter valued at approximately $1,026,000. Finally, Legal & General Group Plc bought a new position in CeriBell in the second quarter worth approximately $53,000.

CeriBell Company Profile

CeriBell Corp (NASDAQ: CBLL) is a healthcare technology company specializing in the design, manufacture and sale of automated newborn hearing screening devices. The company offers a suite of medical diagnostic tools based on otoacoustic emissions (OAE) and auditory brainstem response (ABR) technologies, enabling early detection of auditory impairments in infants. CeriBell’s solutions are used in hospitals, birthing centers and audiology clinics to support universal newborn hearing screening programs aimed at improving language development outcomes through prompt intervention.

The company’s product portfolio includes handheld and desktop screening units, proprietary software for data management, and accessories designed to streamline testing workflows.