Myomo (NYSEAMERICAN:MYO) Issues Earnings Results, Beats Expectations By $0.04 EPS

Myomo (NYSEAMERICAN:MYO) announced its quarterly earnings data on Tuesday. The company reported ($0.03) EPS for the quarter, topping analysts’ consensus estimates of ($0.07) by $0.04, Zacks reports. The firm had revenue of $7.52 million during the quarter, compared to analyst estimates of $7.30 million. Myomo had a negative return on equity of 94.02% and a negative net margin of 47.77%.

Myomo Stock Down 11.9 %

Shares of Myomo stock traded down $0.50 on Wednesday, reaching $3.70. 523,885 shares of the company were exchanged, compared to its average volume of 401,227. Myomo has a one year low of $0.50 and a one year high of $5.64. The stock has a market cap of $106.63 million, a P/E ratio of -13.63 and a beta of 1.56.

Insider Transactions at Myomo

In related news, Director Thomas F. Kirk acquired 50,000 shares of the company’s stock in a transaction dated Wednesday, May 29th. The shares were bought at an average price of $3.50 per share, for a total transaction of $175,000.00. Following the purchase, the director now directly owns 236,499 shares in the company, valued at approximately $827,746.50. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Company insiders own 4.54% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the company. HC Wainwright restated a “buy” rating and set a $6.50 target price on shares of Myomo in a research report on Thursday, May 9th. Lake Street Capital boosted their target price on Myomo from $7.00 to $7.50 and gave the stock a “buy” rating in a research report on Tuesday, July 9th. Finally, Craig Hallum assumed coverage on Myomo in a research report on Wednesday, July 31st. They set a “buy” rating and a $7.00 target price for the company.

Myomo Company Profile

Myomo, Inc, a wearable medical robotics company, designs, develops, and produces myoelectric orthotics for people with neuromuscular disorders in the United States, China, Germany, and internationally. The company offers MyoPro, a myoelectric-controlled upper limb brace or orthosis product used for supporting a patient's weak or paralyzed arm to enable and improve functional activities of daily living.