In today’s briefing:
- Meta Just Bought into EssilorLuxottica.
- Figma Inc (FIG): Peeking at the Prospectus of the Next Software IPO
- Brightstar Lottery (fka IGT) Capital Return is Better Than Expected
- JAKK: 2H Signposts: Creating the New Normal; Reiterating Buy Rating, $40 PT
- LE: 2H Signposts: Moving Past the Gap to Growth; Reiterate Buy, $20 PT
- ETST: Initiating Coverage of a Strategic Holding Company Focused on the Healthcare Industry
- NRXBF: Test Results Show Spinal Injury Recovery
- REVB: Topline Results About to Be Released
- MDAI: DeepView De Novo Submission
- What Do Investors See in Sleepy Transcat?
Meta Just Bought into EssilorLuxottica.
We won’t be generation heads-down forever. Handsets are impractical as our primary device to interact with information technology.
When we use them, we lose touch to the real world. Headsets are the obvious next step to allow for a more integrated experience.
Meta has been betting on the handset-to-headset transition for more than a decade. And they have been doing so with courage and determination.
Figma Inc (FIG): Peeking at the Prospectus of the Next Software IPO
- Figma (FIG US) filed for an IPO on the NYSE on July 1st for a debut later this month.
- Their revenue was $749.0 million for the year ended December 31, 2024, representing 48% year-over-year growth.
- Adobe’s acquisition of Figma collapsed in December 2023 after regulatory hurdles paving the way for this IPO.
Brightstar Lottery (fka IGT) Capital Return is Better Than Expected
- Brightstar Lottery (fka IGT) announced a better than expected capital return program following the closing of the Apollo transaction.
- Brightstar will pay a $3 special dividend (7/14 ex date) and buy back $500MM of stock.
- Brightstar is in a quiet period, but I would expect it to aggressively buy back stock following its earnings report on July 29, 2025.
JAKK: 2H Signposts: Creating the New Normal; Reiterating Buy Rating, $40 PT
- We are reiterating our Buy rating, $40 price target and projections for JAKKS Pacific as we look at key trends for 2H2025 and beyond.
- With toy production, especially on the lower end, firmly established in China, and with limited near term options, JAKKS will, as they have done throughout their 30-year history, have to transform to maximize overall returns.
- We believe management has the financial firepower, relationships and product offerings to maintain their strong market position and once again quickly return to driving solid top and bottom line growth.
LE: 2H Signposts: Moving Past the Gap to Growth; Reiterate Buy, $20 PT
- We are reiterating our Buy rating, $20 price target and projections for Lands’ End as we look at key trends for 2HFY25 and beyond.
- We believe Lands’ End is poised to move into the next phase of the transformation of the company into a higher margin, higher return global brand, as the recently launched licensing initiatives begin expanding the overall category levels, as opposed to shifting prior owned categories into licensing relationships which, while driving higher return on assets, led to YoY revenue declines.
- Further, with continued international expansion (both owned and licensed) on tap, further key wins at Lands’ End Outfitters and the potential to continue to drive higher returns (and sales) in the core business as the company shifts the business model, we believe Lands’ End remains well situated to drive further top and bottom line upside, and we reiterate our Buy rating and $20 price target.
ETST: Initiating Coverage of a Strategic Holding Company Focused on the Healthcare Industry
- Earth Science Tech, Inc. (ETST) is a strategic holding company, with wholly-owned subsidiaries operating in the compounding pharmaceutical (RxCompoundStore.com, MisterMeds.com), telehealth (Peaks Curative, Las Villas Health Care, DOConsultations.com), real estate (Avenvi), and consumer products (Magnefuse) sectors.
- Senior executives remain focused on managing and optimizing company operations, as well as acquiring complementary assets.
- The firm was incorporated in 2010, with headquarters in Miami, Florida.
NRXBF: Test Results Show Spinal Injury Recovery
- NurExone (OTC-NRXBF) is a preclinical stage biotech company that is developing a breakthrough treatment for spinal cord injuries that has the potential to dramatically improve lives.
- The technology involved also has the potential to more efficiently get other treatments to the needed area.
- The company announced results from preclinical testing that showed higher doses of ExoPTEN resulted in subjects regaining mobility after a spinal cord injury.
REVB: Topline Results About to Be Released
- Revelation Biosciences is a life sciences company whose development of immunologic-based therapies is based on the well-established biology of phosphorylated hexaacyl disaccharide (PHAD) and its effect on the innate immune system.
- The company announced that enrollment in the Phase 1b study of Gemini in CKD patients will be completed this month and top line results will follow shortly.
- Investors should take a look at REVB before the positive results start coming in.
MDAI: DeepView De Novo Submission
- Spectral AI is developing an AI-guided predictive medical device that employs multispectral imaging (MSI) to estimate a wound’s capacity to heal.
- The company is pursuing indications in burn and diabetic foot ulcers (DFUs) with the former receiving support from BARDA & other government agencies.
- Spectral is distinguished by its combination of MSI and AI to improve diagnoses.
What Do Investors See in Sleepy Transcat?
- Transcat (NASDAQ: TRNS) is a roll-up of companies that serve the pharmaceutical, aerospace, utilities, oilfield, and other industries with measurement equipment, calibration services, and sales.
- TRNS sells and rents equipment and maintains a fleet of vans that it dispatches to client premises to adjust their measuring equipment.
- Listed since 1972, the company has never paid a dividend and has no plans to do so.
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