Zacks Investment Research upgraded shares of Semler Scientific (SMLR) from N/A to OUTPERFORM on January 05, 2015, with a target price of $6.00.
FloChec, SMLR's flagship device, looks to have several advantages over current standard testing methods for peripheral artery disease. PAD afflicts ~20% of those 65 years and older but ~75% go undiagnosed as current diagnostic methods, unlike FloChec, are not well suited for front line testing in the primary care setting. Highly experienced mgmt team has had early success with strategic marketing plan that leverages recent changes in healthcare reimbursement from pay for service to pay for performance. FloChec use benefits providers, patients and insurers which has catalyzed demand for the device and resulted in three-year revenue CAGR of 120%+. We think revenue continues to grow at a rapid clip as SMLR expands their customer base and increases per-customer order flow. We are initiating coverage of SMLR with an Outperform rating and $6/share price target.
Get all Zacks Research Reports and be alerted to fast-breaking buy and sell opportunities every trading day.
To get a free copy of the research report on Semler Scientific (SMLR),
click here.
For more information about research offerings from Zacks Investment Research, visit
Zacks.com .
Be the first to comment