Strs Ohio Acquires 4,200 Shares of AVITA Medical, Inc. (NASDAQ:RCEL)

Strs Ohio boosted its position in shares of AVITA Medical, Inc. (NASDAQ:RCEL) by 11.4% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 41,100 shares of the company’s stock after purchasing an additional 4,200 shares during the quarter. Strs Ohio owned about 0.16% of AVITA Medical worth $563,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. increased its holdings in AVITA Medical by 0.8% during the 3rd quarter. Vanguard Group Inc. now owns 1,360,696 shares of the company’s stock worth $19,880,000 after purchasing an additional 11,062 shares during the period. EAM Investors LLC increased its holdings in AVITA Medical by 43.4% during the 3rd quarter. EAM Investors LLC now owns 249,192 shares of the company’s stock worth $3,641,000 after purchasing an additional 75,436 shares during the period. Bank of New York Mellon Corp increased its holdings in AVITA Medical by 10.0% during the 3rd quarter. Bank of New York Mellon Corp now owns 127,772 shares of the company’s stock worth $1,867,000 after purchasing an additional 11,571 shares during the period. HighMark Wealth Management LLC purchased a new position in shares of AVITA Medical in the 4th quarter valued at $27,000. Finally, Allspring Global Investments Holdings LLC purchased a new position in shares of AVITA Medical in the 3rd quarter valued at $98,000. 27.66% of the stock is currently owned by hedge funds and other institutional investors.

AVITA Medical Stock Up 2.7 %

Shares of RCEL stock opened at $8.52 on Friday. AVITA Medical, Inc. has a 1-year low of $8.01 and a 1-year high of $21.70. The stock’s fifty day moving average price is $14.71 and its 200 day moving average price is $13.61. The company has a debt-to-equity ratio of 0.81, a current ratio of 7.88 and a quick ratio of 7.46. The company has a market cap of $219.82 million, a price-to-earnings ratio of -6.09 and a beta of 1.33.

AVITA Medical (NASDAQ:RCEL) last announced its earnings results on Thursday, February 22nd. The company reported ($0.28) earnings per share for the quarter, topping the consensus estimate of ($0.34) by $0.06. AVITA Medical had a negative return on equity of 54.80% and a negative net margin of 70.56%. The firm had revenue of $14.20 million for the quarter, compared to the consensus estimate of $14.10 million. On average, research analysts expect that AVITA Medical, Inc. will post -1.18 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

RCEL has been the topic of a number of analyst reports. Cantor Fitzgerald lifted their price target on AVITA Medical from $22.00 to $25.00 and gave the company an “overweight” rating in a report on Friday, February 23rd. Piper Sandler reiterated an “overweight” rating and issued a $21.00 price target (up from $19.00) on shares of AVITA Medical in a report on Friday, February 23rd. Finally, BTIG Research downgraded AVITA Medical from a “buy” rating to a “neutral” rating in a report on Thursday, April 11th. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, AVITA Medical presently has a consensus rating of “Moderate Buy” and a consensus target price of $27.80.

AVITA Medical Profile

AVITA Medical, Inc, together with its subsidiaries, operates as a regenerative medicine company in the United States and internationally. The company's lead product is the RECELL System, a cell harvesting device used for the treatment of thermal burn wounds, full-thickness skin defects, and repigmentation of stable depigmented vitiligo lesions.