STRATA Skin Sciences (NASDAQ:SSKN) Downgraded by Zacks Investment Research to “Sell”

Zacks Investment Research cut shares of STRATA Skin Sciences (NASDAQ:SSKN) from a hold rating to a sell rating in a research report sent to investors on Tuesday, Zacks.com reports.

According to Zacks, “Strata Skin Sciences, Inc. is a medical technology company which focused on the dermatology market. Its products include the XTRAC laser(R) and VTRAC(R) excimer lamp systems for treatment of psoriasis, vitiligo and other skin conditions as well as the MelaFind (R) system used for identification and management of melanoma skin cancer. Strata Skin Sciences, Inc., formerly known as MELA Sciences, Inc., is based in Horsham, Pennsylvania. “

Other equities research analysts have also issued research reports about the stock. HC Wainwright set a $5.00 target price on shares of STRATA Skin Sciences and gave the stock a buy rating in a report on Monday, July 8th. Northland Securities reaffirmed a buy rating and issued a $7.00 target price on shares of STRATA Skin Sciences in a report on Tuesday, May 14th. Finally, ValuEngine lowered shares of STRATA Skin Sciences from a buy rating to a hold rating in a report on Thursday, August 1st. One investment analyst has rated the stock with a sell rating and four have given a buy rating to the company. The stock currently has an average rating of Buy and an average price target of $4.92.

SSKN opened at $2.39 on Tuesday. The firm’s 50-day simple moving average is $2.60 and its 200-day simple moving average is $2.71. STRATA Skin Sciences has a twelve month low of $2.01 and a twelve month high of $3.88.

A number of hedge funds and other institutional investors have recently modified their holdings of SSKN. Meitav Dash Investments Ltd. lifted its position in STRATA Skin Sciences by 12.8% during the 1st quarter. Meitav Dash Investments Ltd. now owns 807,234 shares of the medical device company’s stock worth $2,314,000 after buying an additional 91,418 shares in the last quarter. Renaissance Technologies LLC lifted its position in STRATA Skin Sciences by 6.7% during the 2nd quarter. Renaissance Technologies LLC now owns 1,100,116 shares of the medical device company’s stock worth $2,739,000 after buying an additional 69,300 shares in the last quarter. Vanguard Group Inc. lifted its position in STRATA Skin Sciences by 3.5% during the 2nd quarter. Vanguard Group Inc. now owns 627,003 shares of the medical device company’s stock worth $1,561,000 after buying an additional 21,000 shares in the last quarter. BlackRock Inc. lifted its position in STRATA Skin Sciences by 33.5% during the 2nd quarter. BlackRock Inc. now owns 82,972 shares of the medical device company’s stock worth $207,000 after buying an additional 20,803 shares in the last quarter. Finally, Creative Planning lifted its position in STRATA Skin Sciences by 42.9% during the 2nd quarter. Creative Planning now owns 50,000 shares of the medical device company’s stock worth $125,000 after buying an additional 15,000 shares in the last quarter. Institutional investors and hedge funds own 30.98% of the company’s stock.

STRATA Skin Sciences Company Profile

STRATA Skin Sciences, Inc, a medical technology company, focuses on the therapeutic and aesthetic dermatology market. The company operates through three segments: Dermatology Recurring Procedures, Dermatology Procedures Equipment, and Dermatology Imaging. Its products include XTRAC laser and VTRAC excimer lamp systems used for the treatment of psoriasis, vitiligo, and other skin conditions; the STRATAPEN MicroSystems, a micropigmentation device; and Nordlys, a multi-technology aesthetic laser device for treating vascular and pigmented lesions.

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