Senseonics Stock Set to Reverse Split on Monday, October 20th (NYSE:SENS)

Key Points

• Senseonics Holdings, Inc. (NYSE:SENS) is undergoing a 1-for-20 reverse stock split, effective on Monday, October 20th, to adjust the number of shares owned by shareholders.
• The stock is currently trading at $0.47, down 16.9%, with a market capitalization of $382.41 million and a consensus price target of $1.54 from analysts.
• Institutional investors have increased their stakes in Senseonics, with First Light Asset Management growing its holdings by 666.7% during the second quarter of the year.

Shares of Senseonics Holdings, Inc. (NYSE:SENS - Free Report) are going to reverse split on the morning of Monday, October 20th. The 1-20 reverse split was recently announced. The number of shares owned by shareholders will be adjusted after the market closes on Sunday, October 19th.

Senseonics Trading Down 16.9%

Shares of SENS stock opened at $0.47 on Wednesday. The stock has a market capitalization of $382.41 million, a PE ratio of -3.61 and a beta of 0.83. Senseonics has a 1-year low of $0.25 and a 1-year high of $1.40. The business has a 50-day moving average of $0.46 and a 200 day moving average of $0.54. The company has a debt-to-equity ratio of 59.17, a current ratio of 2.47 and a quick ratio of 2.38.

Analyst Ratings Changes

Several research firms have weighed in on SENS. Lake Street Capital upgraded Senseonics to a "strong-buy" rating in a report on Thursday, July 17th. HC Wainwright reiterated a "buy" rating and issued a $1.40 price objective (up previously from $1.10) on shares of Senseonics in a report on Tuesday, July 8th. TD Cowen began coverage on Senseonics in a report on Tuesday, July 15th. They issued a "buy" rating and a $1.25 price objective for the company. Finally, Barclays began coverage on Senseonics in a report on Wednesday, August 27th. They issued an "overweight" rating and a $1.50 price objective for the company. Two analysts have rated the stock with a Strong Buy rating and three have assigned a Buy rating to the stock. Based on data from MarketBeat, Senseonics has an average rating of "Buy" and a consensus target price of $1.54.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. First Light Asset Management LLC grew its holdings in Senseonics by 666.7% during the second quarter. First Light Asset Management LLC now owns 35,708,124 shares of the company's stock valued at $17,011,000 after purchasing an additional 31,050,619 shares during the period. Hood River Capital Management LLC bought a new stake in Senseonics during the second quarter valued at about $3,775,000. Sio Capital Management LLC bought a new stake in Senseonics during the second quarter valued at about $2,312,000. Geode Capital Management LLC grew its holdings in Senseonics by 26.6% during the second quarter. Geode Capital Management LLC now owns 8,701,129 shares of the company's stock valued at $4,147,000 after purchasing an additional 1,828,302 shares during the period. Finally, Sei Investments Co. bought a new stake in Senseonics during the second quarter valued at about $761,000. Hedge funds and other institutional investors own 12.36% of the company's stock.

About Senseonics

Senseonics Holdings, Inc, a medical technology company, focuses on development and manufacturing of continuous glucose monitoring (CGM) systems for people with diabetes in the United States and internationally. The company's products include Eversense, Eversense XL, and Eversense E3 that are implantable CGM systems to measure glucose levels in people with diabetes through an under-the-skin sensor, a removable and rechargeable smart transmitter, and a convenient app for real-time diabetes monitoring and management.

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