The Oncology Institute, Inc. (NASDAQ:TOI) Receives Average Recommendation of "Moderate Buy" from Brokerages

Key Points

• Oncology Institute has a consensus analyst rating of “Moderate Buy”, with five of six analysts rating it a buy and an average 12-month price target of $8.20.
• Recent broker updates were mostly bullish, including price target increases from BTIG Research, Needham, and B. Riley, while Lake Street Capital started coverage with a $10 target; only Weiss Ratings maintained a sell view.
• The company recently beat quarterly expectations, reporting EPS of -$0.02 versus an expected -$0.07 and revenue of $147.44 million versus estimates of $142.10 million.

The Oncology Institute, Inc. (NASDAQ:TOI - Get Free Report) has been given a consensus rating of "Moderate Buy" by the six analysts that are presently covering the stock, Marketbeat Ratings reports. One analyst has rated the stock with a sell recommendation and five have assigned a buy recommendation to the company. The average 12-month price target among analysts that have issued ratings on the stock in the last year is $8.20.

A number of brokerages recently issued reports on TOI. BTIG Research lifted their target price on Oncology Institute from $7.00 to $8.00 and gave the stock a "buy" rating in a report on Monday, June 8th. Needham & Company LLC upped their target price on Oncology Institute from $5.00 to $7.00 and gave the company a "buy" rating in a report on Wednesday, June 17th. Weiss Ratings reiterated a "sell (d-)" rating on shares of Oncology Institute in a research report on Monday, April 20th. B. Riley Financial lifted their price target on Oncology Institute from $6.00 to $8.00 and gave the stock a "buy" rating in a research note on Friday, March 13th. Finally, Lake Street Capital began coverage on Oncology Institute in a report on Monday. They set a "buy" rating and a $10.00 price objective on the stock.

Oncology Institute Stock Performance

Shares of NASDAQ:TOI traded up $0.28 during trading hours on Monday, hitting $5.56. 122,714 shares of the company's stock traded hands, compared to its average volume of 1,888,124. Oncology Institute has a 52 week low of $2.32 and a 52 week high of $5.82. The company's fifty day simple moving average is $4.57 and its two-hundred day simple moving average is $3.66. The company has a market cap of $549.85 million, a price-to-earnings ratio of -14.89 and a beta of 0.36.

Oncology Institute (NASDAQ:TOI - Get Free Report) last announced its quarterly earnings data on Thursday, May 7th. The company reported ($0.02) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.07) by $0.05. The business had revenue of $147.44 million during the quarter, compared to analyst estimates of $142.10 million. On average, analysts anticipate that Oncology Institute will post -0.17 EPS for the current fiscal year.

Insider Transactions at Oncology Institute

In other news, insider Yale Podnos sold 23,451 shares of the business's stock in a transaction that occurred on Monday, June 8th. The shares were sold at an average price of $5.38, for a total transaction of $126,166.38. Following the sale, the insider owned 259,527 shares in the company, valued at $1,396,255.26. The trade was a 8.29% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, major shareholder Jorey Chernett acquired 33,500 shares of the firm's stock in a transaction that occurred on Wednesday, May 20th. The stock was purchased at an average cost of $4.07 per share, with a total value of $136,345.00. Following the purchase, the insider directly owned 10,567,858 shares in the company, valued at approximately $43,011,182.06. This trade represents a 0.32% increase in their position. The disclosure for this purchase is available in the SEC filing. Over the last ninety days, insiders have bought 118,500 shares of company stock valued at $488,655 and have sold 119,170 shares valued at $461,183. 4.40% of the stock is currently owned by insiders.

Institutional Trading of Oncology Institute

Several hedge funds and other institutional investors have recently modified their holdings of the business. Bank of America Corp DE grew its holdings in shares of Oncology Institute by 36.6% during the first quarter. Bank of America Corp DE now owns 63,439 shares of the company's stock valued at $195,000 after buying an additional 16,991 shares in the last quarter. ADAR1 Capital Management LLC purchased a new stake in Oncology Institute in the 1st quarter worth about $154,000. Royal Bank of Canada boosted its position in Oncology Institute by 335.9% during the 1st quarter. Royal Bank of Canada now owns 22,257 shares of the company's stock worth $68,000 after acquiring an additional 17,151 shares during the period. FourWorld Capital Management LLC boosted its position in Oncology Institute by 30.4% during the 1st quarter. FourWorld Capital Management LLC now owns 499,196 shares of the company's stock worth $1,533,000 after acquiring an additional 116,496 shares during the period. Finally, Renaissance Technologies LLC grew its stake in Oncology Institute by 25.1% during the 1st quarter. Renaissance Technologies LLC now owns 902,809 shares of the company's stock valued at $2,772,000 after acquiring an additional 180,909 shares in the last quarter. Institutional investors and hedge funds own 36.86% of the company's stock.

About Oncology Institute

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.