CVRX Expects Q2 Revenue To Increase 45%-61%, HSTM Delivers 26% Earnings Growth, UHS Q1 EPS Falls

The following are some of the healthcare companies that reported their quarterly financial results on Monday.

1. CVRx Inc. (CVRX), a commercial-stage medical device company, which delivered revenue growth of 43% in the first quarter, expects revenue for the second quarter to grow in the range of 45% to 61%.

For the first quarter ended March 31, 2022, net loss was $10.0 million or $0.49 per share compared to a net loss of $8.6 million, or $23.92 per share in the year-ago quarter.

Revenue for the first quarter of 2022 was $4.1 million compared to $2.86 million in the year-ago period.

Wall Street analysts, on average, were expecting the company to incur a loss of $0.49 per share on revenue of $3.78 million.

For the second quarter of 2022, the company expects to report revenue between $4.5 million and $5.0 million while the consensus analysts’ estimate is $4.78 million. Revenue was $3.1 million in the second quarter of 2021.

Looking ahead to full year 2022, the company continues to expect revenue between $20.0 million and $23.0 million up from $13.0 million, reported in 2021. The consensus revenue estimate for 2022 is $20.75 million.

CVRX closed Monday’s trading at $4.90, up 1.03%.

2. HealthStream Inc. (HSTM) has delivered 26% earnings growth and 3% revenue growth for the first quarter ended March 31, 2022.

Net income was $2.9 million or $0.09 per share in the first quarter of 2022, compared to $2.3 million or $0.07 per share in the first quarter of 2021. Revenue rose modestly to $65.4 million in the first quarter of 2022 from $63.5 million in the year-ago quarter.

Looking ahead to full-year 2022, the company continues to expect revenues to be in the range of $267.5 million to $273.0 million while the consensus revenue estimate is $270.42 million. Revenue reported in 2021 was $256.7 million.

HSTM closed Monday’s trading at $19.29, down 0.62%.

3. Medpace Holdings Inc. (MEDP), which reported strong earnings and revenue for the first quarter ended March 31, 2022, expects revenue growth of 22.6% to 27.8% in 2022.

On a GAAP basis, net income for the first quarter of 2022 was $61.3 million or $1.69 per share on revenue of $330.9 million. This compared with a GAAP net income of $43.3 million or $1.14 per share and revenue of $260.0 million in the year-ago quarter.

Wall Street analysts, on average, expected the company to report earnings per share of $1.26 and revenue of $327.09 million for the quarter.

For full year 2022, the company has forecast revenue in the range of $1.400 billion to $1.460 billion, representing growth of 22.6% to 27.8% over 2021 revenue of $1.142 billion.

GAAP net income for full year 2022 is projected in the range of $204.0 million to $216.0 million, well above the year-ago GAAP net income of $181.8 million.

MEDP closed Monday’s trading at $148, down 1.74%.

4. Universal Health Services Inc. (UHS), a provider of hospital and healthcare services, had a modest increase in its first quarter revenue while earnings declined.

The net income attributable to the company dropped to $153.9 million or $2.02 per share in the first quarter of 2022, from $209.1 million or $2.43 per share in the year-ago period.

On a non-GAAP basis, net income attributable to the company declined to $163.5 million or $2.15 per share in the first quarter of 2022, from $210.1 million or $2.44 per share in the first quarter of 2021.

Net revenues increased by 9.3% to $3.293 billion in the first quarter of 2022 from $3.013 billion in the comparable year-ago quarter.

Analysts polled by Thomson Reuters were expecting the company to earn $2.46 per share on revenue of $3.21 billion.

UHS closed Monday’s trading at $138.76, up 4.39%.

Source: Read Full Article