PAVmed (NASDAQ:PAVM) Releases Quarterly Earnings Results, Beats Expectations By $999.69 EPS

PAVmed (NASDAQ:PAVM) announced its earnings results on Thursday. The company reported $999.00 EPS for the quarter, topping analysts’ consensus estimates of ($0.69) by $999.69, Zacks reports. PAVmed had a negative return on equity of 242.99% and a net margin of 564.79%.

PAVmed Stock Up 2.2%

NASDAQ:PAVM traded up $0.14 during midday trading on Thursday, hitting $6.45. The stock had a trading volume of 13,187 shares, compared to its average volume of 15,547. PAVmed has a one year low of $6.00 and a one year high of $28.44. The company has a market capitalization of $6.45 million, a price-to-earnings ratio of -0.28 and a beta of 0.64. The stock has a 50-day moving average of $9.22 and a 200 day moving average of $9.58.

Analyst Ratings Changes

PAVM has been the subject of several recent analyst reports. Wall Street Zen raised shares of PAVmed from a “sell” rating to a “hold” rating in a research note on Saturday, April 4th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of PAVmed in a research note on Tuesday, April 21st. Finally, Ascendiant Capital Markets reduced their price objective on shares of PAVmed from $510.00 to $65.00 and set a “buy” rating on the stock in a research report on Thursday, April 9th. One investment analyst has rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $65.00.

Institutional Investors Weigh In On PAVmed

A hedge fund recently raised its stake in PAVmed stock. Jane Street Group LLC increased its position in shares of PAVmed Inc. (NASDAQ:PAVM) by 392.9% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 52,676 shares of the company’s stock after buying an additional 41,990 shares during the period. Jane Street Group LLC owned about 0.31% of PAVmed worth $32,000 at the end of the most recent quarter. Institutional investors and hedge funds own 19.93% of the company’s stock.

PAVmed Company Profile

PAVmed Inc is a clinical-stage medical technology company focused on acquiring, developing and commercializing innovative medical devices aimed primarily at gastrointestinal endoscopy and related therapeutic areas. Its portfolio includes FDA-cleared products such as EsoFLIP® Distensibility System for the treatment of esophageal strictures and MUSE™ (Medigus Ultrasonic Surgical Endostapler) for endoscopic fundoplication in gastroesophageal reflux disease (GERD). In addition to its gastrointestinal franchise, PAVmed is advancing early-stage programs targeting indications in oncology, urology and dermatology.

Founded in 2012, PAVmed has built its pipeline through internal research and development as well as strategic collaborations and acquisitions.