Pavmed Inc Up 11.17% To $2.29 After Earnings Beat

PAVmed Inc (PAVM) surpassed earnings projections on 3/26/2024 for Q4 2023.

Pavmed Inc's earnings came in at an EPS loss of $1.33 per share, 30.00% higher than estimates for an EPS loss of $1.89 per share. The firm's loss per share narrowed by 41% since reporting a loss of $2.25 per share a year ago. Remember, earnings reported were on an adjusted basis, so they may not be comparable to prior reports and/or analyst estimates.

Consensus estimates for Pavmed Inc revenue averaged out to $1.1 million, with the business missing on those expectations with reported fourth-quarter revenue of $1 million. The $1,000.00 (0%) negative revenue surprise led to 837% growth year-over-year as the firm reported revenue of $112 thousand in its year-ago quarter. The lower earnings growth compared to revenue points to Pavmed Inc not being able to improve its profit margin.

The stock is up 11.17% to $2.29 after the report.

The firm's higher revenue growth to earnings signals that the firm has not been able to reduce costs and has seen its profit margin decrease.

Wall Street Analysts had an average rating of Buy on the stock prior to the report.

Trading in the five days leading up to the report earned Pavmed Inc a Bearish Sentiment Rank from InvestorsObserver.

Pavmed Inc has performed a little below average during the past few months. Before the report, Pavmed Inc received a Long-Term Technical Rank by InvestorsObserver of 29, putting it in the bottom half of stocks. The firm was recently trading at a 52-week low of $1.6 on February 8, 2024 and set a 52-week high on April 20, 2023 at $7.97.

PAVmed Inc is a medical device company engaged in advancing a pipeline of medical technologies from concept to commercialization using a business model focused on capital and time efficiency. Its product includes EsoCheck; CarpX; EsoGuard; PortIO; DisappEAR and others.