PhotoMedex downgraded to Hold at Canaccord As reported previously, Canaccord downgraded PhotoMedex to Hold from Buy citing its lower than expected results and uncertainty as to when the environment for media purchasing will improve. The firm lowered its price target on the stock to $8 from $15.
PhotoMedex reports 'strong' sales of no!no! during recent events PhotoMedex announces two very successful live television home shopping sales events, one in the U.S. at the end of May and the other in the UK at mid-June. Consumers purchased approximately 17,400 units of no!no! Hair and retail sales of nearly $3.5M in a 24-hour period in the U.S. The company’s unit sales exceeded its pre-event expectations, and also exceeded a similar event on home shopping in May 2014 by approximately 4,000 units. In the UK, an event was held on a separate home shopping network exceeding the targeted expectations by completely selling out inventory purchased for the event.