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David O’Toole, the Chief Financial Officer of AVITA Medical (TASE:BLWV), Inc. (NASDAQ:RCEL), recently purchased 1,000 shares of the company’s common stock. The shares were acquired at a price of $9.90 each, totaling $9,900. The purchase comes as the stock shows strong momentum, with a 16.4% return over the past week. According to InvestingPro analysis, AVITA Medical appears undervalued based on its Fair Value estimates. Following this transaction, O’Toole owns 25,734 shares directly. This move reflects an increased personal investment in the company by its financial leader. The company maintains a healthy financial position with a current ratio of 2.83 and has achieved 28.14% revenue growth in the last twelve months. InvestingPro subscribers can access 8 additional key insights and a comprehensive Pro Research Report about AVITA Medical, including detailed insider trading analysis and future growth projections.
In other recent news, Avita Medical Ltd . reported a commercial revenue of $18.4 million, marking a 29% year-over-year increase, though it fell short of Cantor Fitzgerald’s estimate of $23.9 million and the FactSet consensus of $23.0 million. Despite this, Avita maintains its fiscal year 2025 revenue forecast between $100 million and $106 million, aligning with Cantor Fitzgerald’s prediction and slightly below the FactSet consensus. The company recently received FDA approval for its RECELL GO Mini device, designed for smaller wounds, which is expected to expand its market reach and will be rolled out in trauma and burn centers in early 2025. Analysts from Cantor Fitzgerald and Lake Street Capital Markets expressed optimism about Avita’s growth prospects, with the former maintaining an Overweight rating and the latter a Buy rating, despite Lake Street lowering its price target from $20 to $14 due to a revenue shortfall. Additionally, D. Boral (OTC:BOALY) Capital initiated coverage with a Buy rating and a $25.00 price target, citing strong growth potential in the U.S. market. Avita’s strategic focus includes the introduction of RECELL GO and other products like PermeaDerm and Cohealyx, which are anticipated to drive future revenue growth. The company’s efforts in expanding its product portfolio and market penetration continue to attract investor attention.
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