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Sientra, Inc. (SIEN)

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6.96+0.11 (+1.53%)
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6.96 0.00 (0.00%)
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Previous Close6.86
Open6.92
Bid6.99 x 900
Ask7.15 x 800
Day's Range6.86 - 7.20
52 Week Range2.96 - 8.93
Volume740,373
Avg. Volume917,824
Market Cap400.344M
Beta (5Y Monthly)2.12
PE Ratio (TTM)N/A
EPS (TTM)-2.26
Earnings DateAug 09, 2021 - Aug 13, 2021
Forward Dividend & YieldN/A (N/A)
Ex-Dividend DateN/A
1y Target Est10.71
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  • Sientra to Participate in Upcoming Virtual Investor Conferences
    GlobeNewswire

    Sientra to Participate in Upcoming Virtual Investor Conferences

    SANTA BARBARA, Calif., May 18, 2021 (GLOBE NEWSWIRE) -- Sientra, Inc. (NASDAQ: SIEN) (“Sientra” or the “Company”), a medical aesthetics company uniquely focused on plastic surgeons, today announced that members of management are scheduled to participate in two upcoming virtual investor conferences. Event: William Blair 41st Annual Growth Stock ConferenceFormat: Fireside Chat and 1x1 MeetingsDate: Tuesday, June 1, 2021Time: 8:00 a.m. PT / 11:00 a.m. ET Event: 18th Annual Craig-Hallum Institutional Investor ConferenceFormat: 1x1 MeetingsDate: Wednesday, June 2, 2021 A live and archived webcast of the fireside chat will be available on the “Investors” section of the Sientra website at www.sientra.com. About SientraHeadquartered in Santa Barbara, California, Sientra is a medical aesthetics company uniquely focused on plastic surgeons. The Company mission is to offer proprietary innovations and unparalleled partnerships that radically advance how plastic surgeons think, work and care for their patients. Sientra has developed a broad portfolio of products with technologically differentiated characteristics, supported by independent laboratory testing and strong clinical trial outcomes. The Company’s Breast Products segment includes its Sientra round and shaped breast implants, the first fifth generation breast implants approved by the FDA for sale in the United States, its ground-breaking Allox2® breast tissue expander with patented dual-port and integral drain technology, and BIOCORNEUM®, the #1 performing, preferred and recommended scar gel of plastic surgeons(*). Sientra uses its investor relations website to publish important information about the Company, including information that may be deemed material to investors. Financial and other information about Sientra is routinely posted and is accessible on the Company’s investor relations website at www.sientra.com. (*) Data on file Investor Relations ContactLeigh Salvoir@sientra.com

  • MedTech Round Up: Update On Lucira Health, Second Sight Medical ClearPoint Neuro, Medtronic, Sientra
    Benzinga

    MedTech Round Up: Update On Lucira Health, Second Sight Medical ClearPoint Neuro, Medtronic, Sientra

    Lucira Health Inc (NASDAQ: LHDX) has announced that its Lucira Check IT COVID-19 test kit is now available on Amazon.com in the US. Each Lucira Check IT test kit provides a PCR quality test result at home in 30 minutes or less. The product costs $55. Price Action: LHDX shares are trading 14.3% higher at $5.82 during the market session on the last check Wednesday. Second Sight Medical Products Inc (NASDAQ: EYES) has announced two-year results of its Early Feasibility Study of the Orion Visual Cortical Prosthesis. Data showed that all five patients tested at the two-year mark could locate a white square on a dark computer screen significantly better with the Orion System on than with it off. 4/5 were able to identify better the direction of motion of a bar moving across a computer screen. Orion is an implanted cortical stimulation device intended to provide useful artificial vision to individuals who are blind due to a wide range of causes. Price Action: EYES shares are trading 43.6% higher at $7.18 during the market session on the last check Wednesday. View more earnings on CLPT ClearPoint Neuro Inc (NASDAQ: CLPT) announced FDA clearance for its SmartFrame Array, a navigation system designed for use in both the MRI suite and operating room. The company reported Q1 sales of $4.03 million, which beat the analyst consensus estimate of $3.27 million, and up 29% Y/Y. It sees sales in the range of $16-$17.5 million for the 2021 calendar year, better than the consensus of $15.83 million. Price Action: CLPT shares are trading 1.67% higher at $17.96 during the premarket session on the last check Wednesday. Medtronic Plc (NYSE: MDT) is recalling HeartWare HVAD System to provide updated Instructions due to safety issues with Carrying Cases, Driveline Cover Orientation, and Controller Power-Up Sequence. HVAD System helps the heart continue to pump blood to the rest of the body. The faulty devices may cause serious patient harm, including death. There have been one death and 64 injuries reported to the FDA for these issues. Price Action: MDT shares are trading 1.56% lower at $123.27 during the market session on the last check Wednesday. Sientra Inc (NASDAQ: SIEN) has agreed to sell its miraDry business to 1315 Capital, a healthcare growth equity firm. Deal terms were not disclosed. The miraDry system provides a non-invasive treatment that offers a lasting solution for underarm sweat. It reported Q1 2021 sales of $23.2 million, a 37% Y/Y increase and beating the consensus estimate of $18.8 million. Sientra sees full-year 2021 breast products sales in the range of $72 to $76 million, representing 31%-38% growth Y/Y, compared to previous guidance of $70 million to $74 million. Price Action: SIEN shares are trading 5.3% lower at $6.38 during the market session on the last check Wednesday. See more from BenzingaClick here for options trades from BenzingaMedTech Round Up: Update On Products By Conformis, Medtronic, Orthofix, Neovasc© 2021 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

  • Sientra Reports Record First Quarter 2021 Financial Results
    GlobeNewswire

    Sientra Reports Record First Quarter 2021 Financial Results

    SANTA BARBARA, Calif., May 11, 2021 (GLOBE NEWSWIRE) -- Sientra, Inc. (NASDAQ: SIEN) (“Sientra” or the “Company”), a medical aesthetics company uniquely focused on plastic surgeons, today announced its financial results for the first quarter ended March 31, 2021. First Quarter 2021 Financial Highlights Q1 2021 total net sales of $23.2 million, a 37% year-over-year increase Breast Products net sales of $18.3 million, a 47% year-over-year increase and the largest-ever quarterly Breast Products sales in Company historymiraDry net sales of $4.9 million, a 10% year-over-year increase Cash of $80.4 million as of March 31, 2021, which included the net proceeds from a public offering of common stock on February 11, 2021 of approximately $39.2 millionUpdated full year 2021 guidance for Breast Products net sales expected to be between $72 to $76 million, representing 31%-38% growth year over year Recent Business Highlights Signed definitive agreement to sell miraDry business to 1315 Capital PartnersEntered into a strategic partnership with Butterfly Network to improve diagnostic surveillance of breast implant patientsAlloX2® awarded an Innovative Technology contract from Vizient, Inc., signifying the benefits of its transformative technology and making the product now broadly available to all major hospitals in the U.S. performing reconstruction surgery Ron Menezes, Sientra’s President and Chief Executive Officer, said, “Our first quarter was marked by outstanding execution of our 2021 strategic priorities by the Sientra team. Importantly, we saw our U.S. breast business experience notable gains in market share and new accounts, while accelerating our efforts to a be a top two implant and expander company in two years. Sales in our reconstruction market saw renewed traction as access to more hospitals opened and states began easing pandemic restrictions. We anticipate further upside in this market with AlloX2, our leading tissue expander, which will now be broadly available to all major hospitals performing breast reconstruction surgery. In addition, we were delighted to announce the expected sale of our miraDry business to 1315 Capital Partners, enabling us to concentrate on plastic surgery and on our rapidly growing Breast Products business.” First Quarter 2020 Financial Review Total net sales for the first quarter 2021 were $23.2 million, an increase of 37% compared to total net sales of $16.9 million for the same period in 2020. Net sales for the Breast Products segment totaled $18.3 million in the first quarter 2021, a 47% increase compared to $12.5 million for the same period in 2020. Net sales for the miraDry segment totaled $4.9 million in the first quarter 2021, a 10% increase compared to $4.5 million for the same period in 2020. Gross profit for the first quarter 2021 was $12.3 million, or 52.9% of sales, compared to gross profit of $10.1 million, or 59.9% of sales, for the same period in 2020. Gross margins decreased mainly as a result of lower overhead absorption in the miraDry segment. Operating expenses for the first quarter 2021 were $22.1 million, a decrease of 40% compared to $37.1 million of operating expenses for the same period in 2020. Excluding a $6.4 million non-cash impairment of certain intangibles related to miraDry and restructuring charges totaling $1.7 million in the first quarter of 2020, operating expenses in the first quarter of 2021 decreased $6.9 million, or 24%, compared to the same period in 2020. Net loss for the first quarter 2021 was $54.7 million, or $1.01 per share, compared to a net loss of $28.6 million, or $0.57 per share, for the same period in 2020. Net loss was driven primarily by a $42.7 million non-cash charge from the change in fair value of the derivative liability associated with the Company’s convertible note. On a non-GAAP basis, net loss per share for the first quarter of 2021 was $5.3 million, or $0.10 per share, compared to $15.5 million, or $0.31 per share for the same period in 2020. Net cash and cash equivalents as of March 31, 2021 were $80.4 million, compared to $55.0 million as of December 31, 2020 and includes the net proceeds from the closing of the Company’s public offering of common stock on February 11, 2021 of approximately $39.2 million. Updated Financial Guidance For the full year 2021, the Company increased its guidance in Breast Products from net sales to $72 million to $76 million, representing growth of 31% to 38% over 2020. This compares to previous guidance of $70 million to $74 million. Conference Call Sientra will hold a conference call today, May 11, 2021 at 4:30 pm ET to discuss first quarter results. The dial-in numbers are 844-464-3933 for domestic callers and 765-507-2612 for international callers. The conference ID is 3594402. A live webcast of the conference call will be available on the Investor Relations section of the Company's website at www.sientra.com. The webcast will be archived on the website following the completion of the call. Use of Non-GAAP Financial Measures Sientra has supplemented its US GAAP net income (loss) with a non-GAAP measure of Adjusted EBITDA and non-GAAP earnings per share. Management believes that these non-GAAP financial measures provide useful supplemental information to management and investors regarding the performance of the Company, facilitates a more meaningful comparison of results for current periods with previous operating results, and assists management in analyzing future trends, making strategic and business decisions and establishing internal budgets and forecasts. A reconciliation of non-GAAP Adjusted EBITDA to GAAP net income (loss) and non-GAAP loss per share, the most directly comparable GAAP measures, is provided in the schedule below. There are limitations in using this non-GAAP financial measure because it is not prepared in accordance with GAAP and may be different from non-GAAP financial measures used by other companies. This non-GAAP financial measure should not be considered in isolation or as a substitute for GAAP financial measures. Investors and potential investors should consider non-GAAP financial measures only in conjunction with Sientra’s financial statements prepared in accordance with GAAP and the reconciliations of the non-GAAP financial measure provided in the schedule below. About Sientra Headquartered in Santa Barbara, California, Sientra is a medical aesthetics company uniquely focused on plastic surgeons. The Company mission is to offer proprietary innovations and unparalleled partnerships that radically advance how plastic surgeons think, work and care for their patients. Sientra has developed a broad portfolio of products with technologically differentiated characteristics, supported by independent laboratory testing and strong clinical trial outcomes. The Company’s Breast Products segment includes its Sientra round and shaped breast implants, the first fifth generation breast implants approved by the FDA for sale in the United States, its ground-breaking Allox2® breast tissue expander with patented dual-port and integral drain technology, and BIOCORNEUM®, the #1 performing, preferred and recommended scar gel of plastic surgeons(*). Sientra uses its investor relations website to publish important information about the Company, including information that may be deemed material to investors. Financial and other information about Sientra is routinely posted and is accessible on the Company’s investor relations website at www.sientra.com. (*) Data on file Forward-Looking Statements This press release contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, based on management’s current assumptions and expectations of future events and trends, which affect or may affect the Company’s business, strategy, operations or financial performance, and actual results may differ materially from those expressed or implied in such statements due to numerous risks and uncertainties. Forward-looking statements are made only as of the date of this release. The words ‘‘believe,’’ ‘‘may,’’ ‘‘might,’’ ‘‘could,’’ ‘‘will,’’ ‘‘aim,’’ ‘‘estimate,’’ ‘‘continue, ‘‘anticipate,’’ ‘‘intend,’’ ‘‘expect,’’ ‘‘plan,’’ ‘‘position,” or the negative of those terms, and similar expressions that convey uncertainty of future events or outcomes are intended to identify estimates, projections and other forward-looking statements. Forward-looking statements may include information concerning the impact of the COVID-19 pandemic on the Company and its operations, the Company’s possible or assumed future results of operations, including descriptions of the Company’s revenues, profitability, outlook and overall business strategy. Such statements are subject to risks and uncertainties, including the scope and duration of the COVID-19 pandemic, the Company’s ability to recapture delayed procedures resulting from the COVID-19 pandemic, the positive reaction from plastic surgeons and their patients to Sientra’s Breast Products, the ability to meet consumer demand, the acceptance and growth of its miraDry segment, and the Company’s ability to manage its operating expenses and cash balance. Additional factors that could cause actual results to differ materially from those contemplated in this press release can be found in the Risk Factors section of Sientra’s public filings with the Securities and Exchange Commission. All statements other than statements of historical fact are forward-looking statements. The words ‘‘believe,’’ ‘‘may,’’ ‘‘might,’’ ‘‘could,’’ ‘‘will,’’ ‘‘aim,’’ ‘‘estimate,’’ ‘‘continue, ‘‘anticipate,’’ ‘‘intend,’’ ‘‘expect,’’ ‘‘plan,’’ ‘‘position,” or the negative of those terms, and similar expressions that convey uncertainty of future events or outcomes are intended to identify estimates, projections and other forward-looking statements. You are cautioned not to place undue reliance on these forward-looking statements, and such estimates, projections and other forward-looking statements speak only as of the date they were made, and, except to the extent required by law, the Company undertakes no obligation to update or review any estimate, projection or forward-looking statement. Actual results may differ from those set forth in this press release due to the risks and uncertainties inherent in the Company’s business. Investor Relations Contact Leigh Salvo ir@sientra.com Sientra, Inc. Consolidated Statements of Operations (In thousands, except per share and share amounts) (Unaudited) Three Months Ended March 31, 2021 2020 Net sales $23,236 $16,932 Cost of goods sold 10,935 6,792 Gross profit 12,301 10,140 Operating expenses: Sales and marketing 12,375 16,763 Research and development 2,392 2,908 General and administrative 7,354 9,304 Restructuring — 1,739 Impairment — 6,432 Total operating expenses 22,121 37,146 Loss from operations (9,820) (27,006)Other income (expense), net: Interest income 2 180 Interest expense (2,004) (1,623)Change in fair value of derivative liability (42,740) (130)Other income (expense), net (128) (33)Total other income (expense), net (44,870) (1,606)Loss before income taxes (54,690) (28,612)Income tax — — Net loss $(54,690) $(28,612)Basic and diluted net loss per share attributable to common stockholders $(1.01) $(0.57)Weighted average outstanding common shares used for net loss per share attributable to common stockholders: Basic and diluted 54,321,146 49,916,412 Sientra, Inc. Condensed Consolidated Balance Sheets (In thousands) (Unaudited) March 31, December 31, 2021 2020 Assets Current assets: Cash and cash equivalents $80,372 $54,967 Accounts receivable, net 25,438 23,503 Inventories, net 50,556 48,648 Prepaid expenses and other current assets 2,803 2,154 Total current assets 159,169 129,272 Property and equipment, net 13,388 13,106 Goodwill 9,202 9,202 Other intangible assets, net 9,081 9,387 Other assets 7,573 8,011 Total assets $198,413 $168,978 Liabilities and Stockholders’ Equity Current liabilities: Current portion of long-term debt $5,820 $4,670 Accounts payable 3,845 6,504 Accrued and other current liabilities 26,935 32,389 Customer deposits 21,956 17,905 Sales return liability 11,020 9,192 Total current liabilities 69,576 70,660 Long-term debt, net of current portion 60,540 60,500 Derivative liability 69,310 26,570 Deferred and contingent consideration 2,467 2,350 Warranty reserve and other long-term liabilities 9,461 9,455 Total liabilities 211,354 169,535 Stockholders’ equity: Total stockholders’ equity (12,941) (557)Total liabilities and stockholders’ equity $198,413 $168,978 Sientra, Inc. Condensed Consolidated Statements of Cash Flows (In thousands) (Unaudited) Three Months Ended March 31, 2021 2020 Cash flows from operating activities: Net loss $(54,690) $(28,612)Adjustments to reconcile net loss to net cash used in operating activities: Impairment — 6,432 Depreciation and amortization 1,384 1,228 Provision for doubtful accounts (386) 357 Provision for warranties 332 236 Provision for inventory 26 1,081 Fair value adjustments to derivative liability 42,740 130 Fair value adjustments of other liabilities held at fair value 17 (39)Amortization of debt discount and issuance costs 848 290 Stock-based compensation expense 3,163 2,133 Other non-cash adjustments 213 107 Changes in assets and liabilities: Accounts receivable (1,544) 1,766 Inventories (1,933) (3,720)Prepaid expenses, other current assets and other assets (268) (587)Accounts payable, accrued, and other liabilities (8,443) (9,867)Customer deposits 4,051 1,284 Sales return liability 1,823 592 Net cash used in operating activities (12,667) (27,189)Cash flows from investing activities: Purchase of property and equipment (1,321) (1,206)Net cash used in investing activities (1,321) (1,206)Cash flows from financing activities: Proceeds from issuance of common stock for employee stock-based plans 1,132 534 Net proceeds from issuance of common stock 39,226 264 Tax payments related to shares withheld for vested restricted stock units (RSUs) (1,215) (1,201)Gross borrowings under the Term Loan 1,000 — Repayment of the Revolving Loan — (6,508)Net proceeds from issuance of the Convertible Note — 60,000 Deferred financing costs (750) (240)Net cash provided by financing activities 39,393 52,849 Net increase (decrease) in cash, cash equivalents and restricted cash 25,405 24,454 Cash, cash equivalents and restricted cash at: Beginning of period 55,310 87,951 End of period $80,715 $112,405 Reconciliation of cash, cash equivalents, and restricted cash to the consolidated balance sheets Cash and cash equivalents $80,372 $112,062 Restricted cash included in other assets 343 343 Total cash, cash equivalents and restricted cash $80,715 $112,405 Sientra, Inc. Reconciliation of Net Loss to Non-GAAP Adjusted EBITDA (Unaudited) Three Months Ended March 31, Dollars, in thousands 2021 2020 Net loss, as reported $(54,690) $(28,612)Adjustments to net loss: Interest (income) expense and other, net 2,130 1,476 Depreciation and amortization 1,384 1,228 Fair value adjustments to contingent consideration 17 — Fair value adjustments to derivative liability 42,740 130 Stock-based compensation 3,163 2,133 Restructuring — 1,739 Impairment — 6,432 Total adjustments to net loss 49,434 13,138 Adjusted EBITDA $(5,256) $(15,474)Basic and diluted adjusted EBITDA per share $(0.10) $(0.31) Three Months Ended March 31, As a Percentage of Revenue** 2021 2020 Net loss, as reported (235.4%) (169.0%)Adjustments to net loss: Interest (income) expense and other, net 9.2% 8.7%Depreciation and amortization 6.0% 7.3%Fair value adjustments to contingent consideration 0.1% 0.0%Fair value adjustments to derivative liability 183.9% 0.8%Stock-based compensation 13.6% 12.6%Restructuring 0.0% 10.3%Impairment 0.0% 38.0%Total adjustments to net loss 212.7% 77.6%Adjusted EBITDA (22.6%) (91.4%) ** Adjustments may not add to the total figure due to rounding