HealthStream EPS Tops Estimate, MEDP Revises Forecast, OTIC To Report Tinnitus Trial Data In August

(RTTNews) - The following are some of the healthcare companies that reported their quarterly results yesterday.

1. HealthStream Q2 EPS Tops Estimates, Revenue Lags

HealthStream Inc.'s (HSTM) second-quarter earnings handily topped analysts' estimates while revenue fell shy.

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

Net income was $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. Revenues slightly improved to $65.6 million in the second quarter of 2022, up 1% from $64.8 million in the year-ago quarter.

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

Looking ahead to full-year 2022, the company continues to expect revenue to be in the range of $267.5 million to $273.0 million while the analysts' consensus estimate is $270.13 million. Revenue for full 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 shares of common stock is scheduled to terminate on the earlier of March 13, 2023 or when the maximum dollar amount has been expended.

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

2. Medpace Trims Revenue Forecast

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

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. This compares with a 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 Q2, 2022.

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

The GAAP net income for full year 2022 is now forecasted in the range of $205.0 million to $215.0 million, compared to the earlier forecast of $204.0 million to $216.0 million. The GAAP EPS has been forecasted in the range of $6.07 to $6.36 for the year.

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

The 2022 consensus estimate of analysts polled by Thomson Reuters 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 To Report Tinnitus Trial Data In August

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

The company's lead drug candidate is OTO-313, under a phase II trial in tinnitus, with topline results expected in August 2022.

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

OTO-825, a gene therapy designed to treat congenital hearing loss, 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 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 Posts Disappointing Q1 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 dropped to $2.8 million or $0.14 per share from $4.4 million or $0.22 per share in the year-ago period. Net sales for Q1, 2022 declined 11.5% to $70.2 million from $79.3 million for first quarter in the prior year.

Analysts polled by Thomson Reuters were expecting earnings of $0.25 per share and revenue of $78.25 million for Q1, 2022.

According to the company, colder temperatures, particularly in April, had a material impact on sales due to the delay in its seasonally sensitive flea and tick business.

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, noted the company.

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

5. Universal Health Q2 EPS, Revenue Miss Estimates

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

Adjusted net income attributable to the company in Q2, 2022 declined to $163.9 million or $2.20 per share from $322.3 million or $3.76 per share in the year-ago quarter. Net revenues increased by 3.9% to $3.323 billion in Q2, 2022 from $3.198 billion in Q2, 2021.

Wall Street analysts were expecting the company to earn $2.35 per share on revenue of $3.28 billion for Q2, 2022.

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

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

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