Natus Medical Inc (NASDAQ:BABY) currently trades at $36.05 which is about -1.50% lower than the 52-week high of $44.39. The trading volume at ready counter moved to 1.28M shares as compared to 612,550.00 shares average traded volume. The stock failed to get pushed above the $36.30 barrier, the intraday high, after opening at $34.75. Analysts have a consensus target price of $48.33 in the 12-month period. Its market capitalization has now reached to $1.11B.
Natus Medical Inc (NASDAQ:BABY) was dropped to Underweight from Equal Weight at Barclays. It has earned a consensus Strong buy rating, according to Zacks Investment Research. No analyst has rated the stock with a sell rating, 0 have assigned a hold rating, 1 says it’s a buy and 3 have assigned a strong buy rating to the company.
Natus Medical Inc (BABY) on February 1, 2017 announced financial results for the three months and full year ended December 31, 2016.
For the fourth quarter ended December 31, 2016, the Company reported revenue of $107.7 million, an increase of 7.7% compared to $100.0 million reported for the fourth quarter 2015. Revenue from the Venezuela contract was $9.1 million during the quarter. GAAP Gross profit margin was 60.4% vs. 58.2% reported for the fourth quarter 2015. GAAP net income was $10.2 million, or $0.31 per diluted share, compared with GAAP net income of $8.5 million, or $0.26 per diluted share in the fourth quarter 2015, representing a 19% increase in GAAP earnings per diluted share.
Non-GAAP earnings per diluted share was $0.51 for the fourth quarter 2016, compared to $0.51 in the fourth quarter 2015. Non-GAAP net income was $16.8 million for the fourth quarter ended December 31, 2016 compared to the prior year’s non-GAAP net income of $17.0 million. Non-GAAP Gross profit margin was 61.3% vs. 63.9% reported for the fourth quarter of 2015.
For the twelve months ended December 31, 2016, the Company reported revenue of $381.9 million, an increase of 1.6% compared to $375.9 million reported for the prior year 2015. GAAP Gross profit margin was 61.5% vs. 60.5% reported for the prior year. GAAP net income was $42.6 million, or $1.29 per diluted share, compared with GAAP net income of $37.9 million, or $1.14 per diluted share for prior year.
Non-GAAP earnings per diluted share increased 5% to $1.62 for the full year 2016, compared to $1.55 for the prior year. The Company reported non-GAAP net income of $53.5 million for the full year 2016, compared to the prior year’s non-GAAP net income of $51.4 million.
Combined cash and investments increased by $141.1 million to $247.6 million during the quarter due to new borrowings in anticipation of the Otometrics acquisition. The Company repurchased $1.0 million of its stock during the fourth quarter of 2016.
“I am pleased with our 2016 accomplishments including the acquisition of Otometrics and RetCam as well as our record financial results considering the regulatory issues at our Seattle facility and the headwinds in some of our international markets. The acquisition of Otometrics will complement our current business and increase our growth potential. We believe Otometrics will achieve a revenue growth rate of 10 percent in 2017 and 2018 as they participate in growing markets for many of their products and services. In addition, we look forward to increasing the profitability of Otometrics from its current breakeven levels to our current operating margins over time. We look forward to an exciting year ahead and the opportunity for Natus to achieve over $500 million of revenue in 2017,” said Jim Hawkins, President and Chief Executive Officer of the Company.