$4.95 Million in Sales Expected for DermTech, Inc. (NASDAQ:DMTK) This Quarter

Equities analysts expect that DermTech, Inc. (NASDAQ:DMTKGet Rating) will announce $4.95 million in sales for the current fiscal quarter, Zacks reports. Two analysts have made estimates for DermTech’s earnings, with the highest sales estimate coming in at $5.00 million and the lowest estimate coming in at $4.90 million. DermTech reported sales of $3.12 million during the same quarter last year, which indicates a positive year over year growth rate of 58.7%. The firm is expected to report its next quarterly earnings report on Monday, January 1st.

According to Zacks, analysts expect that DermTech will report full-year sales of $24.17 million for the current fiscal year, with estimates ranging from $23.80 million to $24.70 million. For the next fiscal year, analysts expect that the firm will report sales of $49.07 million, with estimates ranging from $45.00 million to $54.30 million. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research analysts that that provide coverage for DermTech.

DermTech (NASDAQ:DMTKGet Rating) last released its quarterly earnings data on Tuesday, May 3rd. The company reported ($1.01) EPS for the quarter, missing the consensus estimate of ($0.85) by ($0.16). DermTech had a negative net margin of 716.51% and a negative return on equity of 37.83%. The company had revenue of $3.72 million during the quarter, compared to analysts’ expectations of $3.77 million. During the same period last year, the business earned ($0.49) earnings per share.

DMTK has been the topic of several research reports. Zacks Investment Research lowered DermTech from a “hold” rating to a “sell” rating in a research report on Thursday, April 21st. Lake Street Capital dropped their target price on DermTech from $79.00 to $34.00 in a research report on Wednesday, March 2nd. BTIG Research reaffirmed a “buy” rating and set a $38.00 target price (down from $48.00) on shares of DermTech in a research report on Thursday, April 14th. Craig Hallum dropped their target price on DermTech from $50.00 to $37.00 in a research report on Wednesday, March 2nd. Finally, Cowen dropped their target price on DermTech from $33.00 to $20.00 in a research report on Wednesday, May 4th.

NASDAQ:DMTK traded up $0.60 during mid-day trading on Wednesday, hitting $7.14. The company had a trading volume of 610,567 shares, compared to its average volume of 754,940. The business has a fifty day simple moving average of $10.40 and a 200-day simple moving average of $13.84. DermTech has a 1 year low of $5.68 and a 1 year high of $48.32. The firm has a market capitalization of $213.78 million, a price-to-earnings ratio of -2.26 and a beta of 1.13.

In related news, Director Herm Rosenman bought 20,000 shares of the firm’s stock in a transaction on Monday, May 9th. The stock was bought at an average cost of $6.86 per share, for a total transaction of $137,200.00. Following the completion of the purchase, the director now directly owns 72,832 shares in the company, valued at approximately $499,627.52. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO John Dobak sold 2,561 shares of DermTech stock in a transaction that occurred on Monday, March 7th. The shares were sold at an average price of $13.03, for a total value of $33,369.83. The disclosure for this sale can be found here. Over the last three months, insiders sold 7,037 shares of company stock valued at $95,384. 3.60% of the stock is owned by corporate insiders.

A number of hedge funds have recently modified their holdings of DMTK. US Bancorp DE boosted its stake in DermTech by 160.1% in the third quarter. US Bancorp DE now owns 1,009 shares of the company’s stock valued at $32,000 after acquiring an additional 621 shares during the period. Wolverine Asset Management LLC acquired a new position in DermTech in the fourth quarter valued at approximately $43,000. National Bank of Canada FI acquired a new position in DermTech in the fourth quarter valued at approximately $68,000. Ensign Peak Advisors Inc acquired a new position in shares of DermTech during the fourth quarter worth approximately $82,000. Finally, Salem Investment Counselors Inc. boosted its position in shares of DermTech by 52.2% during the fourth quarter. Salem Investment Counselors Inc. now owns 6,240 shares of the company’s stock worth $99,000 after buying an additional 2,140 shares during the period. Institutional investors own 75.12% of the company’s stock.

DermTech Company Profile (Get Rating)

DermTech, Inc, a molecular diagnostic company, develops and markets novel non-invasive genomics tests to diagnosis skin cancer, inflammatory diseases, and aging-related conditions in the United States. It offers DermTech Melanoma Test (DMT), a gene expression test that that enhances early detection of genomic atypia and helps rule out melanoma and the need for a surgical biopsy of atypical pigmented lesions.

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Earnings History and Estimates for DermTech (NASDAQ:DMTK)

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