Sientra, Inc., a medical aesthetics company, develops and sells medical aesthetics products to plastic surgeons in the United States. The company offers silicone gel breast implants for use in breast augmentation and breast reconstruction procedures; and breast tissue expanders. It also provides body contouring and other implants, including gluteal, pectoral, and calf, facial and nasal implants.
Our View: SIEN has a contract production facility in Brazil and in October the company suspended distribution of its implant products from that facility due to technical compliance difficulties. Last week, third party testers found the company’s medical implants safe and without substantial risk to patients. If the FDA agrees with the third party testers, the company will have its devices back on the market again.
The latest financials for the company are for the quarter ended 9-30-15 and revenue had already slipped. We can only imagine that the fourth quarter, with product distribution suspended, was not an improvement.
Before the problem in Brazil, SIEN shares were trading around $25 per share. Since the problem in Brazil arose the share tumbled to $3 each and 53% of the public float is now held by Institutional & Mutual Fund Owners. SIEN is certainly in a growth industry as cosmetic procedures remain on the increase, particularly in the United States. Investors may want to bet on a forthcoming bounce in SIEN shares.
About Sientra
Headquartered in Santa Barbara, California, Sientra is a medical aesthetics company committed to making a difference in patients’ lives by enhancing their body image, growing their self-esteem and restoring their confidence. The Company was founded to provide greater choice to board-certified plastic surgeons and patients in need of medical aesthetics products. The Company has developed a broad portfolio of products with technologically differentiated characteristics, supported by independent laboratory testing and strong clinical trial outcomes. The Company sells its breast implants and breast tissue expanders exclusively to board-certified and board-admissible plastic surgeons and tailors its customer service offerings to their specific needs. The Company also offers a range of other aesthetic and specialty products.
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