Ceribell, Inc., the Healthcare sector company, was revisited by a Wall Street analyst yesterday. Analyst William Plovanic from Canaccord Genuity maintained a Buy rating on the stock and has a $29.00 price target.
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William Plovanic has given his Buy rating due to a combination of factors that highlight Ceribell, Inc.’s promising growth trajectory and strategic initiatives. The company recently reported strong third-quarter results with a 31% year-over-year revenue increase, surpassing expectations. This growth is attributed to the successful expansion of new accounts and increased adoption within existing ones, leading to a raised fiscal year 2025 revenue guidance of $87M-$89M.
Moreover, Ceribell has effectively mitigated risks associated with tariff threats by diversifying its manufacturing base from China to Vietnam, setting the stage for expected gross margins in the mid-80s by 2026. Additionally, the company is poised for further growth as new sales representatives, hired post-IPO, are anticipated to reach full productivity by 2026, with significant opportunities for expansion within existing and new accounts, including Veterans Affairs hospitals. These factors collectively underpin Plovanic’s optimistic outlook on Ceribell’s stock.
According to TipRanks, Plovanic is a 3-star analyst with an average return of 2.6% and a 44.58% success rate. Plovanic covers the Healthcare sector, focusing on stocks such as TransMedics Group, Boston Scientific, and Insulet.