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NEW YORK (TheStreet) -- Shares of Zeltiq Aesthetics (ZLTQ) were surging 13.64% to $38.50 on heavy trading volume midday Tuesday after the company posted higher-than-anticipated revenue for the 2016 second quarter.

After yesterday's closing bell, the Pleasanton, CA-based medical technology company reported revenue of $89.5 million, above analysts' estimates of $79.7 million.

Zeltiq said it had a net loss of 12 cents per share, while Wall Street was expecting a loss of 5 cents per share.

Additionally, the company raised its full-year revenue view to range between $340 million and $350 million compared to its prior outlook of $320 million to $325 million.

Analysts are projecting revenue of $323 million for 2016.

Brean Capital upped its price target to $39 from $35 and maintained its "buy" rating on the stock after the results, the Fly reports.

The firm cited Zeltiq's improved revenue momentum and its entry into the Chinese market, which should prompt stronger international revenue growth.

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About 4.41 million of the company's shares changed hands so far today compared to its average volume of 611,919 shares per day.

Separately, TheStreet Ratings Team has a "Hold" rating with a score of C on the stock.

The primary factors that have impacted the rating are mixed. The company's strengths can be seen in multiple areas, such as its robust revenue growth, largely solid financial position with reasonable debt levels by most measures and notable return on equity.

But the team also finds weaknesses including unimpressive growth in net income, weak operating cash flow and a generally disappointing performance in the stock itself.

Recently, TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this articles's author.

You can view the full analysis from the report here: ZLTQ

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