William Blair Downgrades Zeltiq Aesthetics Inc to Market Perform

Brokerage firm William Blair Downgrades its rating on Zeltiq Aesthetics Inc(ZLTQ). The shares have been rated Market Perform. Previously, the analysts had a Outperform rating on the shares. The rating by the stock financial advisor at William Blair was issued on Feb 13, 2017 in a research report to their Investors and Clients.

In a different note, On Feb 13, 2017, Canaccord Genuity said it Downgrades its rating on Zeltiq Aesthetics Inc. The shares have been rated ‘Hold’ by the firm.

Zeltiq Aesthetics Inc (ZLTQ) made into the market gainers list on Wednesdays trading session with the shares advancing 0.67% or 0.37 points. Due to strong positive momentum, the stock ended at $55.65, which is also near the day’s high of $55.73. The stock began the session at $55.32 and the volume stood at 18,84,269 shares. The 52-week high of the shares is $56.18 and the 52 week low is $20.11. The company has a current market capitalization of $2,238 M and it has 4,02,14,029 shares in outstanding.

Zeltiq Aesthetics Inc(ZLTQ) last announced its earnings results on Nov 9, 2016 for Fiscal Year 2016 and Q3.Company reported revenue of $95.16M. Analysts had an estimated revenue of $90.60M. Earnings per share were $0.12. The reported EPS was above estimates by $0.05 or 71.43%. Analysts had estimated an EPS of $0.07.

Several Insider Transactions has been reported to the SEC. On Jan 17, 2017, Mark J Foley (President and CEO) sold 10,000 shares at $41.72 per share price.Also, On Jan 5, 2017, Keith J Sullivan (CCO, President, North America) sold 8,000 shares at $44.76 per share price.On Dec 9, 2016, Carl Lamm (Vice President of Operations) sold 21,600 shares at $45.00 per share price, according to the Form-4 filing with the securities and exchange commission.

ZELTIQ Aesthetics Inc. is a medical technology company. The Company is focused on developing and commercializing products utilizing its controlled-cooling technology platform. Its commercial product the CoolSculpting System is designed to reduce stubborn fat bulges. The Company sells its CoolSculpting system to dermatologists plastic surgeons and aesthetic specialists and generates revenue from sales of its CoolSculpting system and from sales of consumables to its customers. Consumables are the CoolSculpting procedure packs that it sells which are needed to perform procedures using its CoolSculpting system. As of December 31 2014 it had an installed base of 3176 CoolSculpting systems installed across approximately 2688 practices across the world. As of December 31 2014 1.5 million CoolSculpting cycles had been shipped to its customers and distributors.

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