The following are some of the healthcare companies that reported their quarterly results yesterday.<\/p>\n
1. HealthStream Q2 EPS Tops Estimates, Revenue Lags<\/b><\/p>\n
HealthStream Inc.’s (HSTM) second-quarter earnings handily topped analysts’ estimates while revenue fell shy.<\/p>\n
The company is a provider of workforce and provider solutions for the healthcare industry.<\/p>\n
Net income was $3.1 million or $0.10 per share for the second quarter ended June 30, 2022, compared to $2.4 million or $0.08 per share in the second quarter of 2021. Revenues slightly improved to $65.6 million in the second quarter of 2022, up 1% from $64.8 million in the year-ago quarter.<\/p>\n
The consensus expectation of analysts polled by Thomson Reuters was $0.05 for earnings and $66.26 million for revenue. <\/p>\n
Looking ahead to full-year 2022, the company continues to expect revenue to be in the range of $267.5 million to $273.0 million while the analysts’ consensus estimate is $270.13 million. Revenue for full year 2021 was $256.7 million.<\/p>\n
The share repurchase program, which authorized the repurchase of up to an additional $10.0 million of the company’s outstanding shares of common stock is scheduled to terminate on the earlier of March 13, 2023 or when the maximum dollar amount has been expended.<\/p>\n
HSTM closed Monday’s trading at $23.62, up 0.25%.<\/p>\n
2. Medpace Trims Revenue Forecast<\/b><\/p>\n
Medpace Holdings Inc. (MEDP), which reported better-than-expected second-quarter results, has revised its full-year outlook due to an anticipated additional foreign exchange headwind.<\/p>\n
On a GAAP basis, net income for the second quarter of 2022 increased to $49.4 million or $1.46 per share on revenue of $351.2 million. This compares with a GAAP net income of $39.9 million or $1.06 per share and revenue of $278.3 million for the second quarter of 2021. <\/p>\n
Wall Street analysts were looking for earnings of $1.31 per share and revenue of $344.02 million for Q2, 2022.<\/p>\n
For full-year 2022, the company now expects revenue to be in the range of $1.405 billion to $1.435 billion, representing growth of 23.0% to 25.6% over 2021 revenue of $1.142 billion. Earlier, the company had forecast 2022 revenue to range between $1.400 billion and $1.460 billion.<\/p>\n
The GAAP net income for full year 2022 is now forecasted in the range of $205.0 million to $215.0 million, compared to the earlier forecast of $204.0 million to $216.0 million. The GAAP EPS has been forecasted in the range of $6.07 to $6.36 for the year. <\/p>\n
The GAAP net income was $181.8 million or $4.81 per share in 2021. <\/p>\n
The 2022 consensus estimate of analysts polled by Thomson Reuters is $5.82 per share for earnings and $1.4 billion for revenue.<\/p>\n
MEDP closed Monday’s trading at $167.03, up 3.49%.<\/p>\n
3. Otonomy To Report Tinnitus Trial Data In August<\/b><\/p>\n
Otonomy Inc. (OTIC) has a couple of clinical trial events to watch in the coming months.<\/p>\n
The company’s lead drug candidate is OTO-313, under a phase II trial in tinnitus, with topline results expected in August 2022.<\/p>\n
Next in the pipeline is OTO-413, which successfully completed a phase IIa trial in subjects with hearing loss in April of this year. The company intends to initiate a dose-ranging phase II efficacy trial in hearing loss patients in the first quarter of 2023.<\/p>\n
OTO-825, a gene therapy designed to treat congenital hearing loss, has demonstrated therapeutic potential in preclinical studies. The company expects to file an Investigational New Drug application for OTO-825 in the first half of 2023.<\/p>\n
The company ended June 30, 2022, with cash, cash equivalents, and short-term investments of $53.1 million.<\/p>\n
OTIC closed Monday’s trading at $1.95, down 3.94%.<\/p>\n
4. PetMed Express Posts Disappointing Q1 Results<\/b><\/p>\n
Shares of PetMed Express Inc. (PETS) were down nearly 11% after-hours Monday, following disappointing financial results for its first quarter ended June 30, 2022.<\/p>\n
Net income for the first quarter dropped to $2.8 million or $0.14 per share from $4.4 million or $0.22 per share in the year-ago period. Net sales for Q1, 2022 declined 11.5% to $70.2 million from $79.3 million for first quarter in the prior year.<\/p>\n
Analysts polled by Thomson Reuters were expecting earnings of $0.25 per share and revenue of $78.25 million for Q1, 2022.<\/p>\n
According to the company, colder temperatures, particularly in April, had a material impact on sales due to the delay in its seasonally sensitive flea and tick business<\/span>.<\/p>\n A quarterly dividend of $0.30 per share will be payable on August 19, 2022, to shareholders of record at the close of business on August 12, 2022, noted the company.<\/p>\n PETS closed Monday’s trading at $20.70, down 1.15%.<\/p>\n 5. Universal Health Q2 EPS, Revenue Miss Estimates<\/b><\/p>\n Universal Health Services Inc. (UHS) has reported lower-than-expected earnings and revenue for the second quarter ended June 30, 2022, as disruptions caused by the COVID-19 pandemic are expected to continue during the remainder of the year.<\/p>\n Adjusted net income attributable to the company in Q2, 2022 declined to $163.9 million or $2.20 per share from $322.3 million or $3.76 per share in the year-ago quarter. Net revenues increased by 3.9% to $3.323 billion in Q2, 2022 from $3.198 billion in Q2, 2021.<\/p>\n Wall Street analysts were expecting the company to earn $2.35 per share on revenue of $3.28 billion for Q2, 2022.<\/p>\n The company noted that developments related to the COVID-19 pandemic could continue to materially affect its financial performance during the remainder of 2022.<\/p>\n UHS closed Monday’s trading at $110.10, down 0.80%.<\/p>\n For more earnings news, earnings calendar, and earnings for stocks, visit rttnews.com <\/p>\n