HC Wainwright Has Bearish Forecast for Myomo FY2029 Earnings

Myomo, Inc. (NYSEAMERICAN:MYO) – Stock analysts at HC Wainwright decreased their FY2029 earnings per share (EPS) estimates for shares of Myomo in a note issued to investors on Tuesday, November 11th. HC Wainwright analyst S. Lee now anticipates that the company will post earnings of $0.30 per share for the year, down from their prior forecast of $0.35. HC Wainwright currently has a “Buy” rating and a $5.00 target price on the stock. The consensus estimate for Myomo’s current full-year earnings is ($0.18) per share.

Separately, Ascendiant Capital Markets cut their target price on Myomo from $11.50 to $10.50 and set a “buy” rating for the company in a research report on Monday, September 22nd. Four equities research analysts have rated the stock with a Buy rating, According to MarketBeat.com, Myomo currently has an average rating of “Buy” and an average price target of $7.83.

Myomo Price Performance

NYSEAMERICAN:MYO traded up $0.03 during trading hours on Wednesday, hitting $0.88. 74,421 shares of the stock traded hands, compared to its average volume of 937,903. The stock has a 50 day moving average price of $0.97 and a 200 day moving average price of $1.94. The company has a quick ratio of 2.03, a current ratio of 2.39 and a debt-to-equity ratio of 0.08. The company has a market cap of $33.30 million, a price-to-earnings ratio of -3.03 and a beta of 1.48. Myomo has a 1 year low of $0.79 and a 1 year high of $7.17.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of MYO. Summit Financial Strategies Inc. raised its holdings in shares of Myomo by 50.0% in the second quarter. Summit Financial Strategies Inc. now owns 15,000 shares of the company’s stock valued at $32,000 after acquiring an additional 5,000 shares in the last quarter. Engineers Gate Manager LP grew its stake in Myomo by 62.8% in the second quarter. Engineers Gate Manager LP now owns 30,097 shares of the company’s stock valued at $65,000 after purchasing an additional 11,614 shares during the last quarter. R Squared Ltd bought a new position in Myomo in the second quarter worth about $29,000. Dynamic Technology Lab Private Ltd bought a new position in Myomo in the first quarter worth about $75,000. Finally, Invesco Ltd. purchased a new stake in shares of Myomo during the second quarter valued at about $37,000. Institutional investors own 44.99% of the company’s stock.

Insiders Place Their Bets

In other news, CEO Paul R. Gudonis bought 50,000 shares of the stock in a transaction dated Friday, August 15th. The stock was purchased at an average price of $0.95 per share, for a total transaction of $47,500.00. Following the acquisition, the chief executive officer owned 1,259,013 shares of the company’s stock, valued at $1,196,062.35. The trade was a 4.14% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Thomas F. Kirk purchased 50,000 shares of the business’s stock in a transaction that occurred on Monday, August 25th. The shares were purchased at an average price of $1.15 per share, for a total transaction of $57,500.00. Following the completion of the acquisition, the director directly owned 474,420 shares in the company, valued at $545,583. The trade was a 11.78% increase in their position. The SEC filing for this purchase provides additional information. Over the last 90 days, insiders purchased 150,000 shares of company stock valued at $160,000. 4.54% of the stock is owned by corporate insiders.

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.