HC Wainwright Has Negative Outlook of Myomo FY2024 Earnings

Myomo, Inc. (NYSEAMERICAN:MYO) – Investment analysts at HC Wainwright cut their FY2024 earnings per share (EPS) estimates for shares of Myomo in a research note issued on Wednesday, November 13th. HC Wainwright analyst S. Lee now forecasts that the company will post earnings per share of ($0.18) for the year, down from their previous forecast of ($0.16). HC Wainwright has a “Buy” rating and a $7.50 price objective on the stock. The consensus estimate for Myomo’s current full-year earnings is ($0.17) per share. HC Wainwright also issued estimates for Myomo’s Q4 2024 earnings at ($0.02) EPS, Q1 2025 earnings at ($0.11) EPS, Q2 2025 earnings at ($0.03) EPS, Q3 2025 earnings at ($0.02) EPS, Q4 2025 earnings at $0.03 EPS, FY2025 earnings at ($0.12) EPS, FY2026 earnings at $0.05 EPS and FY2027 earnings at $0.21 EPS.

Myomo (NYSEAMERICAN:MYO) last issued its quarterly earnings results on Wednesday, November 6th. The company reported ($0.03) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.04) by $0.01. Myomo had a negative return on equity of 86.30% and a negative net margin of 33.22%. The company had revenue of $9.21 million during the quarter, compared to the consensus estimate of $7.95 million.

MYO has been the topic of a number of other reports. Craig Hallum started coverage on shares of Myomo in a research note on Wednesday, July 31st. They issued a “buy” rating and a $7.00 target price on the stock. Ascendiant Capital Markets boosted their price target on Myomo from $8.50 to $9.00 and gave the company a “buy” rating in a report on Tuesday.

Myomo Stock Performance

Shares of NYSEAMERICAN MYO opened at $4.83 on Friday. Myomo has a fifty-two week low of $2.51 and a fifty-two week high of $5.64.

Hedge Funds Weigh In On Myomo

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in MYO. Vontobel Holding Ltd. purchased a new position in Myomo during the 3rd quarter worth approximately $90,000. Bailard Inc. purchased a new position in shares of Myomo during the second quarter worth $109,000. Accel Wealth Management lifted its position in Myomo by 6.0% during the second quarter. Accel Wealth Management now owns 43,882 shares of the company’s stock valued at $141,000 after purchasing an additional 2,500 shares during the period. AlphaCentric Advisors LLC purchased a new stake in Myomo in the third quarter valued at $200,000. Finally, Stonepine Capital Management LLC acquired a new stake in Myomo during the 3rd quarter worth about $401,000. Hedge funds and other institutional investors own 44.99% of the company’s stock.

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.