SG Americas Securities LLC significantly increased its investment in Vericel Corporation, acquiring an additional 26,764 shares during the third quarter of 2023. This move raised SG Americas’ holdings by an impressive 290.3%, bringing its total to 35,983 shares valued at approximately $1,132,000, according to a recent filing with the Securities and Exchange Commission.
This acquisition reflects a broader trend among institutional investors, as several large firms have adjusted their positions in Vericel. For instance, Russell Investments Group Ltd. expanded its stake by 38.4% in the second quarter, now holding 118,856 shares valued at $5,057,000 after purchasing an additional 32,976 shares. Similarly, Frontier Capital Management Co. LLC increased its holdings by 74.3%, ending the period with 398,960 shares worth $16,976,000.
Voya Investment Management LLC also raised its stake by 68.7% during the first quarter, now owning 24,664 shares valued at $1,101,000. Furthermore, Congress Asset Management Co. increased its holdings by 18.0%, bringing its total to 1,742,324 shares worth $74,136,000.
Analyst Ratings and Market Performance
Vericel has attracted considerable attention from analysts recently. Wall Street Zen downgraded the company’s shares from a “buy” to a “hold” rating, while Zacks Research also shifted its rating to “hold” from “strong-buy” on November 12, 2023. Truist Financial adjusted its price target for Vericel, lowering it from $50.00 to $45.00 but maintained a “buy” rating.
Currently, four equity research analysts have assigned a “buy” rating to Vericel, while three have rated it as a “hold.” MarketBeat reports a consensus rating of “Moderate Buy” for the stock, with a price target set at $57.50.
As of the latest trading session, Vericel’s shares opened at $37.40, reflecting a decline of 3.0%. The stock’s fifty-day moving average stands at $38.09, while the two-hundred-day moving average is at $36.49. Vericel Corporation has a market capitalization of $1.89 billion, a price-to-earnings ratio of 155.84, and a beta of 1.17. The stock has fluctuated between a 52-week low of $29.24 and a high of $63.00.
Financial Performance and Future Outlook
Vericel Corporation reported its quarterly earnings on November 6, 2023, revealing an earnings per share (EPS) of $0.10 for the quarter. This figure surpassed the consensus estimate of a loss of ($0.02) by $0.12. The company generated $67.50 million in revenue, exceeding the expected $64.57 million and demonstrating a year-over-year revenue increase of 16.6%.
The firm reported a net margin of 5.06% and a return on equity of 4.30%. Analysts predict that Vericel will post an EPS of $0.14 for the current year.
Vericel Corporation focuses on developing, manufacturing, and commercializing cell-based therapies for severe diseases. Its expertise in regenerative medicine underpins the company’s efforts to harness autologous cell processing to create products aimed at restoring function and promoting healing in damaged tissues. Currently, Vericel markets two FDA-approved therapies, including MACI®, which is designed for repairing symptomatic cartilage defects in the knee for adult patients.
As investor interest in Vericel continues to grow, monitoring the company’s performance and analyst ratings will be crucial for stakeholders and potential investors alike.
