Oncology Institute (NASDAQ:STLN) Releases Quarterly Earnings Results, Misses Expectations By $0.06 EPS

Key Points

• Oncology Institute reported a quarterly loss of $0.13 per share, missing the consensus estimate of a $0.07 loss by $0.06. Revenue was $169.77 million.
• Analysts’ average rating is “Moderate Buy”, with a consensus price target of $9.00; four analysts rate the stock Buy and one rates it Sell.
• A director sold 298,853 shares under a pre-arranged trading plan, while a major shareholder purchased 12,000 shares.

Oncology Institute (NASDAQ:STLN - Get Free Report) released its quarterly earnings data on Thursday. The company reported ($0.13) earnings per share for the quarter, missing the consensus estimate of ($0.07) by ($0.06), Zacks reports. The firm had revenue of $169.77 million during the quarter.

Oncology Institute Price Performance

Shares of STLN stock traded down $0.25 during trading hours on Thursday, reaching $6.69. 1,827,094 shares of the stock traded hands, compared to its average volume of 1,738,016. The firm has a market capitalization of $661.24 million, a price-to-earnings ratio of -22.30 and a beta of 0.44. Oncology Institute has a 1-year low of $2.32 and a 1-year high of $7.13. The firm has a fifty day moving average of $6.48.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the company. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Oncology Institute in a research report on Tuesday. Needham & Company LLC increased their price target on Oncology Institute from $7.00 to $9.00 and gave the company a "buy" rating in a research report on Wednesday, October 14th. Finally, BTIG Research increased their price target on Oncology Institute from $8.00 to $9.00 and gave the company a "buy" rating in a research report on Thursday, July 9th. Four research analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Oncology Institute has an average rating of "Moderate Buy" and a consensus target price of $9.00.

Insider Buying and Selling

In related news, Director Brad Hively sold 298,853 shares of the firm's stock in a transaction that occurred on Friday, August 21st. The shares were sold at an average price of $6.51, for a total value of $1,945,533.03. Following the completion of the transaction, the director owned 411,976 shares of the company's stock, valued at approximately $2,681,963.76. This trade represents a 42.04% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, major shareholder Jorey Chernett bought 12,000 shares of the business's stock in a transaction on Friday, August 14th. The shares were purchased at an average cost of $6.54 per share, for a total transaction of $78,480.00. Following the completion of the purchase, the insider owned 10,660,858 shares in the company, valued at approximately $69,722,011.32. This trade represents a 0.11% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Company insiders own 4.40% of the company's stock.

Oncology Institute Company Profile

The Oncology Institute is a value-based oncology care company focused on delivering comprehensive cancer treatment and related services through community-based care settings. Its model is designed to support patients throughout the cancer-care journey while coordinating treatment among oncologists, primary-care providers, specialists and other healthcare professionals.

The company provides medical oncology and hematology services, cancer screening and diagnosis, treatment planning, chemotherapy and other infusion therapies, supportive care, survivorship services and care-management programs.

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