PAVmed (NASDAQ:PAVM) Releases Earnings Results

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

PAVmed Stock Performance

Shares of PAVM traded up $0.14 during midday trading on Thursday, hitting $6.45. 13,187 shares of the company traded hands, compared to its average volume of 15,547. The stock has a market cap of $6.45 million, a price-to-earnings ratio of -0.28 and a beta of 0.64. The firm has a 50 day moving average of $9.22 and a 200-day moving average of $9.58. PAVmed has a 52 week low of $6.00 and a 52 week high of $28.44.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on PAVM shares. Weiss Ratings reiterated a “sell (d)” rating on shares of PAVmed in a research note on Tuesday, April 21st. Ascendiant Capital Markets lowered their price objective on PAVmed from $510.00 to $65.00 and set a “buy” rating on the stock in a research report on Thursday, April 9th. Finally, Wall Street Zen raised PAVmed from a “sell” rating to a “hold” rating in a research note on Saturday, April 4th. One analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, PAVmed has a consensus rating of “Hold” and an average 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 grew its holdings in shares of PAVmed Inc. (NASDAQ:PAVM) by 392.9% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 52,676 shares of the company’s stock after buying an additional 41,990 shares during the quarter. Jane Street Group LLC owned 0.31% of PAVmed worth $32,000 at the end of the most recent reporting period. 19.93% of the stock is currently owned by hedge funds and other institutional investors.

About PAVmed

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.