Oncology Institute (NASDAQ:TOI) Issues Earnings Results

Key Points

• Oncology Institute reported adjusted EPS of ($0.06) for the quarter, beating the consensus of ($0.08), and revenue of $141.96 million, above estimates of $139.78 million.
• Despite the beat, the company remains unprofitable with a negative net margin of 13.21% and a negative return on equity of 1,527.21%, while the stock trades around $2.62 with a market cap of about $257.8 million.
• A director sold 13,333 shares (reducing his holding by 1.91%); insiders own 8.50% of the stock, and analysts' consensus is a "Moderate Buy" with an average target of $6.50.

Oncology Institute (NASDAQ:TOI - Get Free Report) released its quarterly earnings data on Thursday. The company reported ($0.06) earnings per share for the quarter, beating the consensus estimate of ($0.08) by $0.02, FiscalAI reports. The company had revenue of $141.96 million for the quarter, compared to analyst estimates of $139.78 million. Oncology Institute had a negative return on equity of 1,527.21% and a negative net margin of 13.21%.

Oncology Institute Price Performance

Shares of TOI stock traded down $0.14 during trading hours on Thursday, hitting $2.62. 2,034,839 shares of the company's stock were exchanged, compared to its average volume of 1,829,805. Oncology Institute has a 52 week low of $0.63 and a 52 week high of $4.88. The stock has a market cap of $257.76 million, a price-to-earnings ratio of -4.09 and a beta of 0.14. The stock's 50-day moving average is $3.04 and its 200-day moving average is $3.40.

Insider Activity

In related news, Director Brad Hively sold 13,333 shares of the company's stock in a transaction dated Monday, December 15th. The shares were sold at an average price of $3.77, for a total transaction of $50,265.41. Following the transaction, the director owned 683,721 shares in the company, valued at $2,577,628.17. This represents a 1.91% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 8.50% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Oncology Institute

A number of institutional investors have recently modified their holdings of TOI. Kestra Advisory Services LLC bought a new stake in shares of Oncology Institute during the fourth quarter valued at approximately $31,000. Prelude Capital Management LLC acquired a new position in Oncology Institute during the 3rd quarter worth $41,000. BNP Paribas Financial Markets boosted its position in Oncology Institute by 141.0% in the 3rd quarter. BNP Paribas Financial Markets now owns 12,119 shares of the company's stock valued at $42,000 after buying an additional 7,091 shares during the last quarter. Caitong International Asset Management Co. Ltd increased its stake in shares of Oncology Institute by 344.0% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 14,545 shares of the company's stock valued at $52,000 after buying an additional 11,269 shares during the period. Finally, Sherbrooke Park Advisers LLC acquired a new stake in shares of Oncology Institute in the 3rd quarter valued at $51,000. 36.86% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of analysts have weighed in on the company. Weiss Ratings reiterated a "sell (d-)" rating on shares of Oncology Institute in a research report on Wednesday, January 21st. BTIG Research restated a "buy" rating and issued a $7.00 target price on shares of Oncology Institute in a research note on Monday. Finally, Needham & Company LLC reaffirmed a "buy" rating and issued a $5.00 target price on shares of Oncology Institute in a report on Monday. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Oncology Institute currently has an average rating of "Moderate Buy" and an average target price of $6.50.

Oncology Institute Company Profile

The Oncology Institute, Inc, an oncology company, provides various medical oncology services in the United States. The company operates through three segments: Dispensary, Patient Services, and Clinical Trials & Other. It offers physician services, in-house infusion and dispensary, clinical trial, radiation, outpatient blood product transfusion, and patient support services, as well as educational seminars, support groups, and counseling services. The company also provides managing clinical trials, palliative care programs, stem cell transplants services, and other care delivery models associated with non-community-based academic and tertiary care settings; and conducts clinical trials for a range of pharmaceutical and medical device companies.

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