Sensus Healthcare (NASDAQ:SRTS) Share Price Crosses Below 50-Day Moving Average Following Weak Earnings

Key Points

• Sensus Healthcare missed quarterly expectations: EPS was a loss of $0.09 versus the expected loss of $0.06, while revenue of $6.0 million fell short of the $6.61 million consensus.
• Following the earnings report, shares fell below their 50-day moving average of $2.98 and traded as low as $2.31.
• Analysts maintain a consensus “Moderate Buy” rating and an average target price of $5.83, while insiders bought 120,171 shares during the last quarter.

Sensus Healthcare, Inc. (NASDAQ:SRTS - Get Free Report)'s share price crossed below its 50-day moving average during trading on Friday after the company announced weaker than expected quarterly earnings. The stock has a 50-day moving average of $2.98 and traded as low as $2.31. Sensus Healthcare shares last traded at $2.33, with a volume of 194,505 shares.

The company reported ($0.09) earnings per share for the quarter, missing analysts' consensus estimates of ($0.06) by ($0.03). Sensus Healthcare had a negative return on equity of 23.79% and a negative net margin of 96.49%. The business had revenue of $6.00 million for the quarter, compared to the consensus estimate of $6.61 million.

Analysts Set New Price Targets

Several research firms have recently commented on SRTS. Lake Street Capital dropped their target price on shares of Sensus Healthcare from $4.50 to $4.00 and set a "buy" rating for the company in a research report on Friday, August 14th. Alliance Global Partners reiterated a "buy" rating on shares of Sensus Healthcare in a research note on Monday, August 17th. Finally, Weiss Ratings downgraded Sensus Healthcare from a "sell (d)" rating to a "sell (d-)" rating in a report on Tuesday, August 18th. Four analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $5.83.

Insider Transactions at Sensus Healthcare

In related news, Director Eric Sachetta acquired 27,304 shares of the stock in a transaction dated Monday, August 31st. The stock was acquired at an average cost of $3.54 per share, with a total value of $96,656.16. Following the purchase, the director directly owned 294,784 shares of the company's stock, valued at approximately $1,043,535.36. This trade represents a 10.21% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders purchased 120,171 shares of company stock worth $405,230 in the last quarter. Corporate insiders own 10.20% of the company's stock.

Hedge Funds Weigh In On Sensus Healthcare

A number of large investors have recently made changes to their positions in SRTS. EP Wealth Advisors LLC purchased a new position in shares of Sensus Healthcare during the second quarter valued at approximately $49,000. BlackRock Inc. bought a new position in Sensus Healthcare in the second quarter worth about $252,000. Finally, Bank of New York Mellon Corp purchased a new stake in Sensus Healthcare during the second quarter valued at approximately $303,000. 25.30% of the stock is owned by hedge funds and other institutional investors.

Sensus Healthcare Stock Performance

The stock has a market capitalization of $38.35 million, a PE ratio of -2.40 and a beta of 1.18. The company has a 50 day moving average of $2.98 and a two-hundred day moving average of $3.45.

About Sensus Healthcare

Sensus Healthcare, Inc. is a medical device company focused on non-invasive treatment technologies for dermatologic and oncologic conditions. The company develops and commercializes superficial radiotherapy systems designed to deliver low-energy X-rays to targeted areas of the skin. Its principal products include the SRT-100 and SRT-100 Vision systems, which are used by physicians to treat non-melanoma skin cancers, including basal cell and squamous cell carcinomas, as well as keloids. The systems are intended to provide an alternative to certain surgical procedures and are used in dermatology, radiation oncology and other clinical settings.

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