FY2024 Earnings Forecast for Myomo Issued By HC Wainwright

Myomo, Inc. (NYSEAMERICAN:MYO) – Stock analysts at HC Wainwright cut their FY2024 earnings estimates for Myomo in a research note issued to investors on Wednesday, November 13th. HC Wainwright analyst S. Lee now forecasts that the company will post earnings of ($0.18) per share for the year, down from their prior forecast of ($0.16). HC Wainwright currently has a “Buy” rating and a $7.50 target price 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.

Several other research analysts have also recently weighed in on the stock. Craig Hallum began coverage on shares of Myomo in a report on Wednesday, July 31st. They issued a “buy” rating and a $7.00 price target on the stock. Ascendiant Capital Markets increased their target price on Myomo from $8.50 to $9.00 and gave the stock a “buy” rating in a research note on Tuesday.

Myomo Stock Performance

NYSEAMERICAN:MYO opened at $4.66 on Friday. Myomo has a 12-month low of $2.51 and a 12-month high of $5.64. The company has a market capitalization of $140.97 million, a price-to-earnings ratio of -20.17 and a beta of 1.56.

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

Hedge Funds Weigh In On Myomo

Several hedge funds and other institutional investors have recently modified their holdings of MYO. Barclays PLC bought a new position in Myomo in the 3rd quarter valued at approximately $36,000. Jane Street Group LLC bought a new position in shares of Myomo in the 3rd quarter valued at $65,000. Vontobel Holding Ltd. acquired a new stake in shares of Myomo during the 3rd quarter valued at $90,000. Bailard Inc. acquired a new stake in shares of Myomo during the 2nd quarter valued at $109,000. Finally, Accel Wealth Management grew its position in Myomo by 6.0% during the 2nd quarter. Accel Wealth Management now owns 43,882 shares of the company’s stock worth $141,000 after acquiring an additional 2,500 shares during the last quarter. Institutional investors own 44.99% of the company’s stock.

About Myomo

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.