HealthStream EPS exceeds estimate, MEDP revises forecast, CTO to release tinnitus trial data in August

(RTTNews) – Here are some of the healthcare companies that released their quarterly results yesterday.

1. HealthStream Q2 EPS beats estimates, revenue lags

HealthStream Inc.’s (HSTM) second-quarter earnings far exceeded analysts’ estimates, while revenue fell.

The company is a provider of workforce solutions and vendors for the healthcare industry.

Net earnings were $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. Revenue improved slightly to $65.6 million in the second quarter of 2022, up 1%. $64.8 million in the prior year quarter.

The consensus expectation of analysts polled by Thomson Reuters was $0.05 for profit and $66.26 million for revenue.

Looking ahead to 2022, the company continues to expect revenue to be between $267.5 million and $273.0 million, while analysts’ consensus estimate is $270.13 million. dollars. Revenue for the year 2021 was $256.7 million.

The share repurchase program, which authorized the repurchase of up to an additional $10.0 million of the Company’s outstanding common stock, is scheduled to end on March 13, 2023 or when the maximum dollar amount has been spent.

HSTM closed Monday’s trading at $23.62, up 0.25%.

2. Medpace cuts its revenue forecast

Medpace Holdings Inc. (MEDP), which reported better-than-expected second-quarter results, revised its full-year outlook due to an expected headwind on additional exchange rates.

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. That compares to GAAP net income of $39.9 million or $1.06 per share and revenue of $278.3 million for the second quarter of 2021.

Wall Street analysts were looking for earnings of $1.31 per share and revenue of $344.02 million for the second quarter of 2022.

For the full year 2022, the company now expects revenue to be between $1.405 billion and $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 be between $1.400 billion and $1.460 billion.

GAAP net income for the full year 2022 is now expected in the range of $205.0 million to $215.0 million, compared to the previous guidance of $204.0 million to 216, 0 million dollars. GAAP EPS was expected in the range of $6.07 to $6.36 for the year.

GAAP net income was $181.8 million or $4.81 per share in 2021.

The consensus estimate of analysts polled by Thomson Reuters for 2022 is $5.82 per share for earnings and $1.4 billion for revenue.

MEDP closed Monday’s trading at $167.03, up 3.49%.

3. Otonomy will release data from a tinnitus trial in August

Otonomy Inc. (OTIC) has a few clinical trial events to watch for in the coming months.

The Company’s lead drug candidate is OTO-313, in a Phase II trial in tinnitus, with top results expected in August 2022.

Next in the pipeline is OTO-413, which successfully completed a Phase IIa trial in hearing-impaired subjects in April this year. The company intends to initiate a phase II dose-finding efficacy trial in patients with hearing loss in the first quarter of 2023.

OTO-825, a gene therapy designed to treat congenital deafness, 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.

The company ended on June 30, 2022 with cash, cash equivalents and short-term investments of $53.1 million.

OTIC closed Monday’s trading at $1.95, down 3.94%.

4. PetMed Express reports disappointing first quarter results

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.

Net income for the first quarter fell to $2.8 million or $0.14 per share from $4.4 million or $0.22 per share a year ago. Net sales for the first quarter of 2022 decreased 11.5% to $70.2 million from $79.3 million in the first quarter a year earlier.

Analysts polled by Thomson Reuters had expected earnings of $0.25 a share and revenue of $78.25 million for the first quarter of 2022.

According to the company, colder temperatures, particularly in April, had a significant impact on sales due to the delay in its seasonal business susceptible to fleas and ticks.

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, the company said.

PETS closed Monday’s trading at $20.70, down 1.15%.

5. Universal Health Q2 EPS, Revenue Loss Estimates

Universal Health Services Inc. (UHS) reported earnings and revenue below expectations for the second quarter ended June 30, 2022, as disruptions caused by the COVID-19 pandemic are expected to continue for the remainder of the year.

Adjusted net income attributable to the company in the second quarter of 2022 decreased to $163.9 million or $2.20 per share from $322.3 million or $3.76 per share in the prior year quarter . Net revenue increased 3.9% to $3.323 billion in the second quarter of 2022 from $3.198 billion in the second quarter of 2021.

Wall Street analysts expected the company to earn $2.35 a share on revenue of $3.28 billion for the second quarter of 2022.

The company noted that developments related to the COVID-19 pandemic could continue to significantly affect its financial performance through the remainder of 2022.

UHS closed Monday’s trading at $110.10, down 0.80%.

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